Royal Bank of Canada Cuts Moody's Holdings by 2,895 Shares in Q1

Royal Bank of Canada recently filed its 13F statement with the Securities and Exchange Commission, revealing changes to its Moody's Corporation holdings. In the first quarter, the bank sold 2,895 shares of MCO stock, reducing its stake by 0.4%.

The fund now owns 786,943 shares of Moody's, which is worth approximately $343,304,000 at the end of the most recent reporting period. This represents about 0.45% of the company's outstanding shares.

This reduction in holdings is not unique to Royal Bank of Canada. Several other large investors have also adjusted their stakes in Moody's during the fourth quarter. Qsemble Capital Management LP, for example, boosted its stake by 78.3%, buying an additional 2,505 shares worth $2,913,000.

Moody's stock has performed well recently, with a price-to-earnings ratio of 30.64 and a beta of 1.34. The company reported earnings per share of $4.68 in its latest quarter, beating analyst estimates by $0.42.