Truist Financial Corp Trims Stake in Moody’s Corporation $MCO

Truist Financial Corp lessened its stake in Moody’s Corporation (NYSE:MCO) by 17.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,018 shares of the business services provider’s stock after selling 4,360 shares during the period. Truist Financial Corp’s holdings in Moody’s were worth $10,015,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. BAM Wealth Management LLC acquired a new stake in Moody’s in the 3rd quarter valued at about $871,000. Asset Management One Co. Ltd. raised its stake in Moody’s by 3.1% during 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 purchasing an additional 2,202 shares during the period. Fiera Capital Corp raised its stake in Moody’s by 1.4% during 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 period. Corient Private Wealth LLC boosted its holdings in Moody’s by 87.2% in the 2nd quarter. Corient Private Wealth LLC now owns 200,190 shares of the business services provider’s stock valued at $100,414,000 after purchasing an additional 93,244 shares during the last quarter. Finally, Nordea Investment Management AB grew its position in Moody’s by 19.6% in the second quarter. Nordea Investment Management AB now owns 604,010 shares of the business services provider’s stock worth $298,502,000 after acquiring an additional 98,951 shares during the period. 92.11% of the stock is owned by hedge funds and other institutional investors.

Moody’s Stock Down 0.0%

MCO stock opened at $515.39 on Monday. The company’s 50 day moving average price is $509.66 and its 200 day moving average price is $500.42. The firm has a market capitalization of $91.95 billion, a price-to-earnings ratio of 41.43, a PEG ratio of 2.38 and a beta of 1.44. Moody’s Corporation has a fifty-two week low of $378.71 and a fifty-two 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.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on MCO shares. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $550.00 target price on shares of Moody’s in a research note on Thursday, October 9th. The Goldman Sachs Group upgraded shares of Moody’s from a “neutral” rating to a “buy” rating and lifted their target price for the company from $524.00 to $570.00 in a report on Tuesday, December 16th. Weiss Ratings restated a “buy (b)” rating on shares of Moody’s in a research note on Friday, October 31st. Stifel Nicolaus set a $574.00 price objective on Moody’s and gave the company a “buy” rating in a report on Monday, January 5th. Finally, Wall Street Zen lowered Moody’s from a “buy” rating to a “hold” rating in a research note on Saturday. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Moody’s presently has an average rating of “Moderate Buy” and an average 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.