PNC Financial Services Group Inc. lowered its position in Moelis & Company (NYSE:MC – Free Report) by 21.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 14,244 shares of the asset manager’s stock after selling 3,978 shares during the period. PNC Financial Services Group Inc.’s holdings in Moelis & Company were worth $1,052,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Moelis & Company in the third quarter valued at about $3,433,000. Edgestream Partners L.P. purchased a new stake in shares of Moelis & Company in the fourth quarter valued at about $2,784,000. Natixis Advisors LLC raised its holdings in shares of Moelis & Company by 13.7% in the third quarter. Natixis Advisors LLC now owns 804,860 shares of the asset manager’s stock valued at $55,141,000 after purchasing an additional 96,720 shares during the last quarter. Hodges Capital Management Inc. purchased a new stake in shares of Moelis & Company in the fourth quarter valued at about $9,149,000. Finally, Cerity Partners LLC increased its holdings in Moelis & Company by 129.8% during the third quarter. Cerity Partners LLC now owns 13,845 shares of the asset manager’s stock worth $949,000 after buying an additional 7,819 shares during the last quarter. Hedge funds and other institutional investors own 91.53% of the company’s stock.
Moelis & Company Stock Up 1.8 %
MC opened at $59.61 on Monday. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of 33.87 and a beta of 1.43. The firm has a 50-day moving average price of $72.87 and a 200-day moving average price of $71.78. Moelis & Company has a twelve month low of $46.24 and a twelve month high of $82.89.
Moelis & Company (NYSE:MC – Get Free Report) last posted its earnings results on Wednesday, February 5th. The asset manager reported $1.18 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.79. Moelis & Company had a net margin of 11.39% and a return on equity of 38.49%. On average, sell-side analysts expect that Moelis & Company will post 2.97 earnings per share for the current fiscal year.
Moelis & Company Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, February 18th will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $2.60 annualized dividend and a yield of 4.36%. This is a boost from Moelis & Company’s previous quarterly dividend of $0.60. Moelis & Company’s payout ratio is currently 147.73%.
Insider Activity at Moelis & Company
In related news, CEO Kenneth Moelis sold 9,712 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $74.00, for a total transaction of $718,688.00. Following the completion of the transaction, the chief executive officer now owns 209,235 shares of the company’s stock, valued at approximately $15,483,390. The trade was a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kenneth Shropshire sold 2,551 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $72.30, for a total transaction of $184,437.30. Following the transaction, the director now directly owns 6,940 shares of the company’s stock, valued at approximately $501,762. This represents a 26.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,721 shares of company stock valued at $1,677,017. Corporate insiders own 6.40% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on the stock. JMP Securities restated a “market perform” rating on shares of Moelis & Company in a report on Thursday, February 6th. Wells Fargo & Company raised their price objective on shares of Moelis & Company from $77.00 to $83.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $92.00 price objective (up previously from $86.00) on shares of Moelis & Company in a report on Thursday, February 6th. StockNews.com downgraded shares of Moelis & Company from a “buy” rating to a “hold” rating in a report on Thursday. Finally, The Goldman Sachs Group decreased their price objective on shares of Moelis & Company from $86.00 to $75.00 and set a “neutral” rating for the company in a report on Friday. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Moelis & Company has a consensus rating of “Hold” and an average price target of $71.83.
Check Out Our Latest Analysis on MC
Moelis & Company Profile
(Free Report)
Moelis & Co operates as a holding company. It engages in the provision of financial advisory, capital raising and asset management services to a client base including corporations, governments, sovereign wealth funds and financial sponsors. The firm focuses on clients including large public multinational corporations, middle market private companies, financial sponsors, entrepreneurs and governments.
See Also
Want to see what other hedge funds are holding MC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Moelis & Company (NYSE:MC – Free Report).
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