PNC Financial Services Group Inc. Lowers Stock Position in Moody’s Corporation $MCO

PNC Financial Services Group Inc. cut its position in shares of Moody’s Corporation (NYSE:MCO) by 2.0% during the 3rd quarter, Holdings Channel reports. The firm owned 141,921 shares of the business services provider’s stock after selling 2,854 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Moody’s were worth $67,623,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. BAM Wealth Management LLC purchased a new stake in Moody’s during the 3rd quarter worth about $871,000. Principal Financial Group Inc. increased its position in shares of Moody’s by 0.3% during the third quarter. Principal Financial Group Inc. now owns 647,711 shares of the business services provider’s stock valued at $308,649,000 after buying an additional 1,942 shares during the period. Asset Management One Co. Ltd. lifted its holdings in shares of Moody’s by 3.1% in the third quarter. Asset Management One Co. Ltd. now owns 73,793 shares of the business services provider’s stock worth $35,161,000 after buying an additional 2,202 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Moody’s by 135.7% in the third quarter. Thrivent Financial for Lutherans now owns 45,829 shares of the business services provider’s stock valued at $21,837,000 after acquiring an additional 26,388 shares during the period. Finally, Fiera Capital Corp boosted its position in shares of 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 valued at $1,291,568,000 after acquiring an additional 35,123 shares during the period. 92.11% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on MCO shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Moody’s in a research note on Friday, October 31st. Wells Fargo & Company upped their price target on shares of Moody’s from $620.00 to $660.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. JPMorgan Chase & Co. reduced their target price on Moody’s from $580.00 to $560.00 and set an “overweight” rating for the company in a research report on Thursday, October 23rd. Evercore raised their price target on Moody’s from $540.00 to $620.00 and gave the company an “outperform” rating in a report on Thursday, January 8th. Finally, BMO Capital Markets dropped their price target on Moody’s from $534.00 to $507.00 and set a “market perform” rating for the company in a research report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $558.56.

Insider Buying and Selling at Moody’s

In related news, CEO Robert Fauber sold 592 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $516.15, for a total value of $305,560.80. Following the completion of the sale, the chief executive officer owned 61,082 shares in the company, valued at $31,527,474.30. The trade was a 0.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.14% of the company’s stock.

Moody’s Trading Up 2.8%

NYSE MCO opened at $426.82 on Tuesday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 1.70. The stock’s 50-day simple moving average is $500.43 and its two-hundred day simple moving average is $495.66. Moody’s Corporation has a twelve month low of $378.71 and a twelve month high of $546.88. The company has a market capitalization of $76.14 billion, a price-to-earnings ratio of 34.31, a PEG ratio of 1.97 and a beta of 1.44.

Moody’s Company 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.