Bank of New York Mellon Corp Sells 221,164 Shares of Moody’s Corporation $MCO

Bank of New York Mellon Corp cut its holdings in Moody’s Corporation (NYSE:MCO) by 8.5% in the third quarter, HoldingsChannel reports. The firm owned 2,391,864 shares of the business services provider’s stock after selling 221,164 shares during the period. Bank of New York Mellon Corp’s holdings in Moody’s were worth $1,139,676,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in Moody’s in the 2nd quarter worth approximately $987,524,000. Generation Investment Management LLP bought a new stake in Moody’s during the 2nd quarter valued at approximately $135,968,000. Vanguard Group Inc. lifted its holdings in shares of 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 buying an additional 191,368 shares during the last quarter. Marshall Wace LLP increased its position in Moody’s by 223.8% during the second quarter. Marshall Wace LLP now owns 102,126 shares of the business services provider’s stock worth $51,225,000 after acquiring an additional 184,598 shares during the period. Finally, Sei Investments Co. increased its position in Moody’s by 91.0% during the second quarter. Sei Investments Co. now owns 235,237 shares of the business services provider’s stock worth $117,987,000 after acquiring an additional 112,105 shares during the period. 92.11% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on MCO shares. Stifel Nicolaus set a $574.00 price target on shares of Moody’s and gave the company a “buy” rating in a report on Monday, January 5th. Morgan Stanley increased their target price on shares of Moody’s from $520.00 to $526.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 13th. Raymond James Financial raised Moody’s from an “underperform” rating to a “market perform” rating in a research report on Friday, October 17th. Wall Street Zen raised Moody’s from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Finally, Seaport Research Partners raised Moody’s to a “strong-buy” rating in a report on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $560.94.

Moody’s Stock Down 1.3%

Shares of NYSE MCO opened at $518.60 on Wednesday. The stock has a market cap of $92.52 billion, a PE ratio of 41.69, a PEG ratio of 2.42 and a beta of 1.45. The business has a fifty day moving average of $507.26 and a two-hundred day moving average of $500.08. Moody’s Corporation has a 52-week low of $378.71 and a 52-week high of $546.88. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.84 and a current ratio of 1.84.

Insider Transactions at Moody’s

In other Moody’s news, CEO Robert Fauber sold 1,167 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $478.95, for a total value of $558,934.65. Following the transaction, the chief executive officer directly owned 61,082 shares in the company, valued at $29,255,223.90. The trade was a 1.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.14% of the stock is owned by corporate insiders.

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.