Envestnet Portfolio Solutions Inc. Has $2.59 Million Stock Holdings in Moody’s Corporation $MCO

Envestnet Portfolio Solutions Inc. lowered its stake in Moody’s Corporation (NYSE:MCO) by 20.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,442 shares of the business services provider’s stock after selling 1,394 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Moody’s were worth $2,593,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in MCO. Investment Management Corp VA ADV lifted its stake in Moody’s by 2.2% in the third quarter. Investment Management Corp VA ADV now owns 1,002 shares of the business services provider’s stock valued at $477,000 after buying an additional 22 shares during the period. Parkside Financial Bank & Trust increased its stake in Moody’s by 8.7% in the third quarter. Parkside Financial Bank & Trust now owns 562 shares of the business services provider’s stock valued at $268,000 after purchasing an additional 45 shares in the last quarter. Andina Capital Management LLC raised its holdings in Moody’s by 2.2% in the third quarter. Andina Capital Management LLC now owns 1,264 shares of the business services provider’s stock worth $602,000 after purchasing an additional 27 shares during the period. Avidian Wealth Enterprises LLC boosted its position in shares of Moody’s by 24.9% during the third quarter. Avidian Wealth Enterprises LLC now owns 1,229 shares of the business services provider’s stock worth $585,000 after purchasing an additional 245 shares in the last quarter. Finally, Rakuten Investment Management Inc. acquired a new position in shares of Moody’s in the 3rd quarter valued at $6,584,000. 92.11% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MCO has been the topic of several recent analyst reports. The Goldman Sachs Group upgraded Moody’s from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $524.00 to $570.00 in a report on Tuesday, December 16th. BMO Capital Markets dropped their price target on Moody’s from $534.00 to $507.00 and set a “market perform” rating on the stock in a research report on Thursday, October 23rd. Raymond James Financial upgraded Moody’s from an “underperform” rating to a “market perform” rating in a report on Friday, October 17th. Wall Street Zen upgraded Moody’s from a “hold” rating to a “buy” rating in a research report on Friday. Finally, JPMorgan Chase & Co. lowered their target price on Moody’s from $580.00 to $560.00 and set an “overweight” rating for the company in a research note on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $560.94.

Insiders Place Their Bets

In other Moody’s news, CEO Robert Fauber sold 1,167 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $478.95, for a total transaction of $558,934.65. Following the sale, the chief executive officer directly owned 61,082 shares of the company’s stock, valued at approximately $29,255,223.90. This represents a 1.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.14% of the company’s stock.

Moody’s Stock Up 0.2%

MCO stock opened at $525.31 on Tuesday. The company has a market cap of $93.72 billion, a price-to-earnings ratio of 42.23, a P/E/G ratio of 2.42 and a beta of 1.45. Moody’s Corporation has a twelve month low of $378.71 and a twelve month high of $546.88. The business has a 50 day moving average price of $506.30 and a two-hundred day moving average price of $499.95. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 1.70.

About Moody’s

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.