Cresset Asset Management LLC Sells 13,187 Shares of Moody's Co. (NYSE:MCO)

Cresset Asset Management LLC lessened its stake in shares of Moody's Co. (NYSE:MCO - Free Report) by 71.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,273 shares of the business services provider's stock after selling 13,187 shares during the period. Cresset Asset Management LLC's holdings in Moody's were worth $2,496,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Asset Planning Inc bought a new position in shares of Moody's during the 4th quarter worth approximately $42,000. OFI Invest Asset Management bought a new position in shares of Moody's in the fourth quarter valued at about $41,000. Albion Financial Group UT acquired a new stake in shares of Moody's during the 4th quarter worth about $45,000. Activest Wealth Management bought a new stake in shares of Moody's during the 4th quarter worth about $47,000. Finally, Larson Financial Group LLC raised its holdings in Moody's by 80.6% in the 4th quarter. Larson Financial Group LLC now owns 121 shares of the business services provider's stock valued at $57,000 after acquiring an additional 54 shares during the period. 92.11% of the stock is currently owned by institutional investors.

Moody's Trading Down 0.4%

MCO stock traded down $2.03 during midday trading on Tuesday, hitting $485.03. The stock had a trading volume of 477,070 shares, compared to its average volume of 773,974. The firm has a market cap of $87.26 billion, a P/E ratio of 43.04, a price-to-earnings-growth ratio of 2.87 and a beta of 1.40. The company has a current ratio of 1.47, a quick ratio of 1.67 and a debt-to-equity ratio of 1.81. The business has a fifty day moving average price of $446.77 and a two-hundred day moving average price of $471.81. Moody's Co. has a 1-year low of $378.71 and a 1-year high of $531.93.

Moody's (NYSE:MCO - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The business services provider reported $3.83 earnings per share for the quarter, beating the consensus estimate of $3.58 by $0.25. The firm had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.90 billion. Moody's had a net margin of 29.03% and a return on equity of 58.94%. On average, sell-side analysts predict that Moody's Co. will post 13.95 earnings per share for the current fiscal year.

Moody's Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $3.76 annualized dividend and a dividend yield of 0.78%. Moody's's dividend payout ratio is 32.47%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. William Blair reiterated an "outperform" rating on shares of Moody's in a research note on Friday, February 14th. Stifel Nicolaus reduced their price target on Moody's from $533.00 to $468.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd. Wells Fargo & Company reduced their price target on shares of Moody's from $610.00 to $572.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. StockNews.com downgraded shares of Moody's from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. Finally, UBS Group raised their target price on Moody's from $510.00 to $540.00 and gave the company a "neutral" rating in a report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $515.87.

Insider Transactions at Moody's

In related news, CEO Robert Fauber sold 415 shares of Moody's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $437.80, for a total transaction of $181,687.00. Following the transaction, the chief executive officer now owns 62,690 shares of the company's stock, valued at $27,445,682. The trade was a 0.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 1,111 shares of company stock valued at $520,603 over the last ninety days. 0.14% of the stock is owned by company insiders.

Moody's Profile

Moody's Corporation operates as an integrated risk assessment firm worldwide. It operates in two segments, Moody's Analytics and Moody's Investors Services. The Moody's Analytics segment develops a range of products and services that support the risk management activities of institutional participants in financial markets.