Everence Capital Management Inc. Sells 2,660 Shares of Moelis & Company (NYSE:MC)

Everence Capital Management Inc. reduced its stake in Moelis & Company (NYSE:MC) by 28.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,780 shares of the asset manager’s stock after selling 2,660 shares during the period. Everence Capital Management Inc.’s holdings in Moelis & Company were worth $501,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MC. Reston Wealth Management LLC bought a new position in shares of Moelis & Company in the 3rd quarter worth $26,000. GAMMA Investing LLC raised its holdings in Moelis & Company by 115.8% during the third quarter. GAMMA Investing LLC now owns 995 shares of the asset manager’s stock worth $68,000 after buying an additional 534 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Moelis & Company by 193.0% in the third quarter. Blue Trust Inc. now owns 1,081 shares of the asset manager’s stock valued at $74,000 after buying an additional 712 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Moelis & Company during the third quarter valued at about $75,000. Finally, Benjamin F. Edwards & Company Inc. increased its position in shares of Moelis & Company by 75.2% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,465 shares of the asset manager’s stock worth $83,000 after acquiring an additional 629 shares in the last quarter. Institutional investors and hedge funds own 91.53% of the company’s stock.

Wall Street Analysts Forecast Growth

MC has been the topic of several recent research reports. Morgan Stanley raised shares of Moelis & Company from an “underweight” rating to an “overweight” rating and raised their price target for the company from $66.00 to $92.00 in a research report on Monday, December 9th. UBS Group raised their target price on Moelis & Company from $54.00 to $60.00 and gave the company a “sell” rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods upgraded Moelis & Company from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $71.00 to $86.00 in a report on Friday, December 20th. Finally, Wells Fargo & Company raised their price objective on Moelis & Company from $70.00 to $78.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $70.83.

Moelis & Company Trading Up 0.9 %

MC stock opened at $74.86 on Monday. The stock has a market cap of $5.61 billion, a P/E ratio of 141.25 and a beta of 1.39. The stock’s fifty day simple moving average is $74.01 and its two-hundred day simple moving average is $67.77. Moelis & Company has a 1-year low of $46.24 and a 1-year high of $81.60.

Moelis & Company (NYSE:MC) last issued its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. The company had revenue of $273.76 million for the quarter, compared to the consensus estimate of $273.58 million. Moelis & Company had a net margin of 4.22% and a return on equity of 12.15%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.15) EPS. As a group, analysts forecast that Moelis & Company will post 0.96 earnings per share for the current fiscal year.

Moelis & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 4th were issued a $0.60 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.21%. Moelis & Company’s dividend payout ratio (DPR) is presently 452.83%.

Moelis & Company Profile

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.