Robertson Stephens Wealth Management LLC Sells 1,784 Shares of Moody's Corporation (NYSE:MCO)

Robertson Stephens Wealth Management LLC cut its stake in shares of Moody's Corporation (NYSE:MCO - Free Report) by 50.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,729 shares of the business services provider's stock after selling 1,784 shares during the period. Robertson Stephens Wealth Management LLC's holdings in Moody's were worth $805,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in MCO. Norges Bank bought a new stake in shares of Moody's in the fourth quarter worth about $988,750,000. GAMMA Investing LLC boosted its position in Moody's by 55,808.8% during the first quarter. GAMMA Investing LLC now owns 802,850 shares of the business services provider's stock valued at $373,879,000 after purchasing an additional 801,414 shares during the last quarter. Proficio Capital Partners LLC boosted its position in Moody's by 92,060.2% during the fourth quarter. Proficio Capital Partners LLC now owns 612,865 shares of the business services provider's stock valued at $290,112,000 after purchasing an additional 612,200 shares during the last quarter. Amundi boosted its position in Moody's by 73.6% during the fourth quarter. Amundi now owns 1,131,656 shares of the business services provider's stock valued at $534,255,000 after purchasing an additional 479,599 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Moody's in the fourth quarter valued at approximately $150,376,000. 92.11% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Moody's

In other Moody's news, CEO Robert Fauber sold 415 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 62,690 shares of the company's stock, valued at approximately $27,445,682. This represents a 0.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.14% of the company's stock.

Moody's Stock Down 0.1%

Shares of Moody's stock opened at $470.64 on Thursday. Moody's Corporation has a one year low of $378.71 and a one year high of $531.93. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.57 and a quick ratio of 1.56. The stock's 50-day moving average is $464.28 and its 200 day moving average is $472.90. The firm has a market cap of $84.67 billion, a price-to-earnings ratio of 40.64, a PEG ratio of 2.70 and a beta of 1.39.

Moody's (NYSE:MCO - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The business services provider reported $3.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.58 by $0.25. The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.90 billion. Moody's had a return on equity of 60.37% and a net margin of 29.15%. Equities research analysts anticipate that Moody's Corporation will post 13.95 EPS for the current year.

Moody's Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 16th were paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 0.80%. The ex-dividend date was Friday, May 16th. Moody's's dividend payout ratio (DPR) is presently 32.47%.

Wall Street Analyst Weigh In

Several analysts have issued reports on MCO shares. BMO Capital Markets dropped their price objective on Moody's from $475.00 to $456.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 23rd. Stifel Nicolaus cut their target price on Moody's from $533.00 to $468.00 and set a "hold" rating for the company in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. lowered their price target on Moody's from $585.00 to $495.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Bank of America began coverage on Moody's in a report on Thursday, April 10th. They set a "buy" rating and a $530.00 price target for the company. Finally, Oppenheimer upped their target price on Moody's from $489.00 to $523.00 and gave the stock an "outperform" rating in a report on Thursday, June 5th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Moody's has a consensus rating of "Moderate Buy" and a consensus target price of $519.40.

About Moody's

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.

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