Keybank National Association OH Raises Position in Moody’s Corporation $MCO

Keybank National Association OH lifted its stake in shares of Moody’s Corporation (NYSE:MCO) by 13.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,276 shares of the business services provider’s stock after buying an additional 1,426 shares during the period. Keybank National Association OH’s holdings in Moody’s were worth $5,849,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of MCO. Vanguard Group Inc. boosted its holdings in Moody’s by 1.3% during the second quarter. Vanguard Group Inc. now owns 15,006,997 shares of the business services provider’s stock worth $7,527,360,000 after purchasing an additional 191,368 shares during the last quarter. TCI Fund Management Ltd. grew its holdings in shares of Moody’s by 0.6% in the second quarter. TCI Fund Management Ltd. now owns 13,246,979 shares of the business services provider’s stock valued at $6,644,552,000 after acquiring an additional 83,872 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Moody’s by 1.8% during the second quarter. Geode Capital Management LLC now owns 3,888,788 shares of the business services provider’s stock valued at $1,943,418,000 after acquiring an additional 69,455 shares during the last quarter. Fiera Capital Corp boosted its position in Moody’s by 1.4% in the second quarter. Fiera Capital Corp now owns 2,574,948 shares of the business services provider’s stock worth $1,291,568,000 after purchasing an additional 35,123 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Moody’s in the 2nd quarter worth about $987,524,000. 92.11% of the stock is owned by hedge funds and other institutional investors.

Moody’s Stock Performance

Moody’s stock opened at $515.39 on Monday. Moody’s Corporation has a fifty-two week low of $378.71 and a fifty-two week high of $546.88. The firm’s fifty day moving average price is $509.66 and its 200-day moving average price is $500.42. The stock has a market cap of $91.95 billion, a P/E ratio of 41.43, a price-to-earnings-growth ratio of 2.38 and a beta of 1.44. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.84 and a current ratio of 1.84.

Analysts Set New Price Targets

MCO has been the topic of several research reports. The Goldman Sachs Group raised shares of Moody’s from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $524.00 to $570.00 in a research report on Tuesday, December 16th. Wells Fargo & Company increased their price objective on Moody’s from $620.00 to $660.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. Daiwa Capital Markets raised Moody’s from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $500.00 to $590.00 in a report on Tuesday, January 13th. JPMorgan Chase & Co. lowered their price objective on Moody’s from $580.00 to $560.00 and set an “overweight” rating on the stock in a research note on Thursday, October 23rd. Finally, Mizuho increased their target price on shares of Moody’s from $539.00 to $550.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 28th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Moody’s has a consensus rating of “Moderate Buy” and a consensus price target of $560.94.

Moody’s Profile

Moody’s Corporation is a global provider of credit ratings, research, data and analytics that support financial decision-making and transparency in capital markets. The company traces its origins to the early 20th century when financial analyst John Moody began publishing credit information; today Moody’s is headquartered in New York and serves a broad set of market participants including investors, issuers, financial institutions, corporations, governments and regulators.

Moody’s operates primarily through two complementary businesses.