Legacy Wealth Asset Management LLC Makes New $560,000 Investment in Moody’s Corporation $MCO

Legacy Wealth Asset Management LLC acquired a new stake in shares of Moody’s Corporation (NYSE:MCO) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,176 shares of the business services provider’s stock, valued at approximately $560,000.

A number of other hedge funds have also recently modified their holdings of the stock. Rexford Capital Inc. purchased a new position in Moody’s during the second quarter valued at approximately $25,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Moody’s during the 2nd quarter worth approximately $25,000. Johnson Financial Group Inc. acquired a new stake in shares of Moody’s during the 2nd quarter worth approximately $28,000. Saudi Central Bank purchased a new position in shares of Moody’s during the 1st quarter valued at approximately $30,000. Finally, Heartwood Wealth Advisors LLC acquired a new position in shares of Moody’s in the 3rd quarter valued at $31,000. Hedge funds and other institutional investors own 92.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. cut their price objective on shares of Moody’s from $580.00 to $560.00 and set an “overweight” rating for the company in a report on Thursday, October 23rd. Seaport Res Ptn upgraded Moody’s to a “strong-buy” rating in a research report on Wednesday, October 1st. BMO Capital Markets reduced their price target on Moody’s from $534.00 to $507.00 and set a “market perform” rating for the company in a report on Thursday, October 23rd. Stifel Nicolaus lowered their price target on Moody’s from $526.00 to $471.00 and set a “hold” rating on the stock in a research report on Thursday, October 23rd. Finally, Wall Street Zen cut Moody’s from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Moody’s has an average rating of “Moderate Buy” and an average price target of $543.40.

Moody’s Trading Up 1.3%

Shares of Moody’s stock opened at $509.55 on Tuesday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 1.70. Moody’s Corporation has a twelve month low of $378.71 and a twelve month high of $531.93. The firm has a market capitalization of $90.90 billion, a PE ratio of 40.96, a P/E/G ratio of 2.84 and a beta of 1.45. The firm’s 50-day moving average price is $485.00 and its 200 day moving average price is $493.43.

Moody’s (NYSE:MCO) last announced its earnings results on Wednesday, October 22nd. The business services provider reported $3.92 EPS for the quarter, beating analysts’ consensus estimates of $3.70 by $0.22. The business had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.92 billion. Moody’s had a return on equity of 63.58% and a net margin of 29.92%.The business’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.21 earnings per share. Moody’s has set its FY 2025 guidance at 14.500-14.750 EPS. On average, sell-side analysts predict that Moody’s Corporation will post 13.95 EPS for the current fiscal year.

Moody’s Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 21st were paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Friday, November 21st. Moody’s’s payout ratio is 30.23%.

Insider Activity

In other 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 completion of the sale, the chief executive officer owned 61,082 shares of the company’s stock, valued at $29,255,223.90. This represents 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 through this hyperlink. Insiders have sold a total of 2,154 shares of company stock worth $1,041,098 over the last ninety days. 0.14% of the stock is owned by corporate insiders.

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.