Miracle Mile Advisors LLC Has $1.34 Million Position in Moody’s Co. (NYSE:MCO)

Miracle Mile Advisors LLC boosted its position in shares of Moody’s Co. (NYSE:MCO) by 20.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,398 shares of the business services provider’s stock after purchasing an additional 588 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Moody’s were worth $1,336,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Federated Hermes Inc. boosted its holdings in shares of Moody’s by 150.6% in the third quarter. Federated Hermes Inc. now owns 1,767 shares of the business services provider’s stock valued at $559,000 after buying an additional 1,062 shares during the period. Synovus Financial Corp boosted its holdings in Moody’s by 21.8% during the third quarter. Synovus Financial Corp now owns 1,056 shares of the business services provider’s stock worth $334,000 after purchasing an additional 189 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its holdings in Moody’s by 3.2% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 47,126 shares of the business services provider’s stock worth $14,900,000 after purchasing an additional 1,445 shares during the last quarter. Truist Financial Corp boosted its holdings in Moody’s by 64.4% during the third quarter. Truist Financial Corp now owns 40,941 shares of the business services provider’s stock worth $12,944,000 after purchasing an additional 16,040 shares during the last quarter. Finally, Glenmede Trust Co. NA raised its position in Moody’s by 9.9% during the third quarter. Glenmede Trust Co. NA now owns 16,417 shares of the business services provider’s stock worth $5,191,000 after acquiring an additional 1,473 shares in the last quarter. Institutional investors and hedge funds own 92.11% of the company’s stock.

Analyst Ratings Changes

MCO has been the topic of several analyst reports. Stifel Nicolaus upped their price target on shares of Moody’s from $350.00 to $374.00 and gave the stock a “hold” rating in a research report on Tuesday, May 7th. Oppenheimer increased their price objective on shares of Moody’s from $424.00 to $454.00 and gave the company an “outperform” rating in a research report on Monday. Barclays raised shares of Moody’s from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $375.00 to $450.00 in a research report on Tuesday, April 2nd. Robert W. Baird raised their price target on shares of Moody’s from $405.00 to $414.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Finally, StockNews.com raised shares of Moody’s from a “hold” rating to a “buy” rating in a research report on Tuesday, April 16th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $403.00.

Moody’s Trading Up 0.1 %

NYSE MCO traded up $0.56 during trading hours on Monday, reaching $421.49. The company’s stock had a trading volume of 588,412 shares, compared to its average volume of 718,670. The firm has a fifty day simple moving average of $402.52 and a 200-day simple moving average of $391.66. The stock has a market cap of $76.96 billion, a P/E ratio of 46.01, a P/E/G ratio of 3.27 and a beta of 1.28. Moody’s Co. has a 52 week low of $298.86 and a 52 week high of $428.79. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.42 and a quick ratio of 1.42.

Moody’s (NYSE:MCO) last released its quarterly earnings results on Thursday, May 2nd. The business services provider reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.06 by $0.31. Moody’s had a net margin of 27.01% and a return on equity of 54.50%. The firm had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same quarter last year, the business earned $2.99 EPS. The company’s revenue was up 21.5% compared to the same quarter last year. Equities analysts forecast that Moody’s Co. will post 10.69 earnings per share for the current fiscal year.

Moody’s Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 17th were issued a dividend of $0.85 per share. The ex-dividend date was Thursday, May 16th. This represents a $3.40 annualized dividend and a yield of 0.81%. Moody’s’s payout ratio is 37.12%.

About Moody’s

Moody's Corporation operates as an integrated risk assessment firm worldwide. It operates in two segments, Moody's Analytics and Moody's Investors Services. The Moody's Analytics segment develops a range of products and services that support the risk management activities of institutional participants in financial markets.