PNC Financial Services Group Inc. Sells 3,554 Shares of Moelis & Company (NYSE:MC)

PNC Financial Services Group Inc. trimmed its position in shares of Moelis & Company (NYSE:MC) by 11.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,321 shares of the asset manager’s stock after selling 3,554 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Moelis & Company were worth $1,590,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Gabelli Funds LLC boosted its position in shares of Moelis & Company by 3.7% during the fourth quarter. Gabelli Funds LLC now owns 26,550 shares of the asset manager’s stock worth $1,490,000 after purchasing an additional 950 shares in the last quarter. Evoke Wealth LLC bought a new position in shares of Moelis & Company during the fourth quarter worth $3,079,000. Natixis Advisors L.P. boosted its position in shares of Moelis & Company by 19.0% during the fourth quarter. Natixis Advisors L.P. now owns 146,449 shares of the asset manager’s stock worth $8,219,000 after purchasing an additional 23,426 shares in the last quarter. Mutual of America Capital Management LLC boosted its position in shares of Moelis & Company by 26.8% during the fourth quarter. Mutual of America Capital Management LLC now owns 96,568 shares of the asset manager’s stock worth $5,420,000 after purchasing an additional 20,413 shares in the last quarter. Finally, Heritage Wealth Management LLC bought a new position in shares of Moelis & Company during the fourth quarter worth $276,000. 91.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on MC shares. The Goldman Sachs Group raised shares of Moelis & Company from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $53.00 to $58.00 in a research report on Wednesday, March 13th. UBS Group boosted their price objective on shares of Moelis & Company from $45.00 to $47.00 and gave the company a “sell” rating in a research report on Thursday, April 25th. JMP Securities reaffirmed a “market perform” rating on shares of Moelis & Company in a research report on Tuesday, April 9th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $54.00 price objective (down from $58.00) on shares of Moelis & Company in a research report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat, Moelis & Company currently has a consensus rating of “Hold” and a consensus price target of $50.80.

Insider Buying and Selling at Moelis & Company

In other Moelis & Company news, CEO Kenneth Moelis sold 40,000 shares of Moelis & Company stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $53.98, for a total value of $2,159,200.00. Following the sale, the chief executive officer now directly owns 42,441 shares in the company, valued at approximately $2,290,965.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Kenneth Moelis sold 40,000 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $53.98, for a total transaction of $2,159,200.00. Following the transaction, the chief executive officer now directly owns 42,441 shares in the company, valued at approximately $2,290,965.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Navid Mahmoodzadegan sold 44,980 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $54.92, for a total transaction of $2,470,301.60. The disclosure for this sale can be found here. Company insiders own 6.40% of the company’s stock.

Moelis & Company Trading Down 2.0 %

MC opened at $52.66 on Friday. Moelis & Company has a 12 month low of $38.58 and a 12 month high of $58.67. The firm’s fifty day simple moving average is $53.83 and its 200 day simple moving average is $54.52. The stock has a market capitalization of $3.94 billion, a P/E ratio of -277.16 and a beta of 1.35.

Moelis & Company (NYSE:MC) last issued its quarterly earnings results on Wednesday, April 24th. The asset manager reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.11. Moelis & Company had a negative net margin of 1.33% and a negative return on equity of 0.12%. The firm had revenue of $217.49 million for the quarter, compared to analyst estimates of $219.30 million. During the same period in the previous year, the business earned $0.05 EPS. The company’s revenue was up 17.4% compared to the same quarter last year. On average, equities research analysts predict that Moelis & Company will post 1.3 EPS for the current fiscal year.

Moelis & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Monday, May 6th were paid a $0.60 dividend. The ex-dividend date was Friday, May 3rd. This represents a $2.40 annualized dividend and a yield of 4.56%. Moelis & Company’s payout ratio is currently -1,263.16%.

About Moelis & Company

Moelis & Company operates as an investment banking advisory firm. It offers advisory services in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets transactions, and other corporate finance matters, as well as strategic, capital structure, and private funds advisory.