Moelis & Company (NYSE:MC) Stock Holdings Increased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company raised its holdings in shares of Moelis & Company (NYSE:MC) by 12.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 54,462 shares of the asset manager’s stock after buying an additional 5,954 shares during the period. The Manufacturers Life Insurance Company owned about 0.07% of Moelis & Company worth $3,097,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. UMB Bank n.a. raised its holdings in Moelis & Company by 63.5% during the 2nd quarter. UMB Bank n.a. now owns 497 shares of the asset manager’s stock worth $28,000 after buying an additional 193 shares during the period. Hexagon Capital Partners LLC raised its holdings in shares of Moelis & Company by 147.9% during the first quarter. Hexagon Capital Partners LLC now owns 657 shares of the asset manager’s stock valued at $37,000 after acquiring an additional 392 shares during the period. Benjamin F. Edwards & Company Inc. lifted its position in shares of Moelis & Company by 510.2% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 836 shares of the asset manager’s stock valued at $47,000 after acquiring an additional 699 shares in the last quarter. Headlands Technologies LLC acquired a new position in Moelis & Company in the 2nd quarter worth approximately $113,000. Finally, nVerses Capital LLC grew its position in Moelis & Company by 100.0% during the 2nd quarter. nVerses Capital LLC now owns 3,000 shares of the asset manager’s stock worth $171,000 after purchasing an additional 1,500 shares in the last quarter. Institutional investors and hedge funds own 91.53% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their target price on Moelis & Company from $50.00 to $51.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Wells Fargo & Company began coverage on Moelis & Company in a research report on Thursday, September 12th. They set an “equal weight” rating and a $70.00 price objective for the company. Morgan Stanley upped their target price on Moelis & Company from $61.00 to $67.00 and gave the company an “underweight” rating in a report on Monday, September 23rd. Keefe, Bruyette & Woods restated a “market perform” rating and set a $60.00 price target (up from $54.00) on shares of Moelis & Company in a report on Thursday, July 25th. Finally, UBS Group upped their price objective on shares of Moelis & Company from $54.00 to $60.00 and gave the company a “sell” rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $61.00.

Moelis & Company Stock Up 0.9 %

NYSE MC opened at $67.21 on Wednesday. The stock has a market capitalization of $5.03 billion, a PE ratio of -353.74 and a beta of 1.33. Moelis & Company has a 12-month low of $38.58 and a 12-month high of $71.34. The company has a 50 day moving average price of $65.72 and a two-hundred day moving average price of $59.56.

Moelis & Company (NYSE:MC) last released its quarterly earnings data on Wednesday, July 24th. The asset manager reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.07. The business had revenue of $264.59 million during the quarter, compared to analyst estimates of $227.90 million. Moelis & Company had a net margin of 1.38% and a return on equity of 4.38%. Moelis & Company’s quarterly revenue was up 47.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.04) EPS. As a group, equities analysts anticipate that Moelis & Company will post 1.08 EPS for the current year.

Moelis & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, August 5th were given a $0.60 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.57%. Moelis & Company’s dividend payout ratio is currently -1,263.16%.

Insider Transactions at Moelis & Company

In related news, Director Kenneth Shropshire sold 495 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $69.29, for a total value of $34,298.55. Following the transaction, the director now directly owns 9,372 shares of the company’s stock, valued at approximately $649,385.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Kenneth Shropshire sold 495 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $69.29, for a total value of $34,298.55. Following the transaction, the director now directly owns 9,372 shares in the company, valued at approximately $649,385.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Joseph Simon sold 6,723 shares of Moelis & Company stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $64.00, for a total transaction of $430,272.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,526 shares of company stock worth $830,133. 6.40% of the stock is owned by corporate insiders.

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.