Truist Financial Corp Trims Position in Moelis & Company (NYSE:MC)

Truist Financial Corp decreased its position in Moelis & Company (NYSE:MC) by 3.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,760 shares of the asset manager’s stock after selling 200 shares during the quarter. Truist Financial Corp’s holdings in Moelis & Company were worth $328,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Peak Financial Advisors LLC raised its holdings in Moelis & Company by 2.9% in the 1st quarter. Peak Financial Advisors LLC now owns 8,715 shares of the asset manager’s stock worth $495,000 after purchasing an additional 245 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Moelis & Company during the 1st quarter valued at about $5,062,000. Blue Zone Wealth Advisors LLC bought a new position in shares of Moelis & Company during the 1st quarter valued at approximately $3,213,000. O ROURKE & COMPANY Inc increased its holdings in Moelis & Company by 9.5% in the 1st quarter. O ROURKE & COMPANY Inc now owns 6,181 shares of the asset manager’s stock worth $351,000 after acquiring an additional 537 shares in the last quarter. Finally, Hexagon Capital Partners LLC raised its stake in Moelis & Company by 147.9% during the 1st quarter. Hexagon Capital Partners LLC now owns 657 shares of the asset manager’s stock worth $37,000 after acquiring an additional 392 shares during the period. 91.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MC has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Moelis & Company from $50.00 to $51.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. UBS Group increased their price target on Moelis & Company from $54.00 to $60.00 and gave the stock a “sell” rating in a research note on Tuesday, October 8th. Wells Fargo & Company started coverage on Moelis & Company in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $70.00 price objective on the stock. Morgan Stanley increased their target price on Moelis & Company from $61.00 to $67.00 and gave the stock an “underweight” rating in a research report on Monday, September 23rd. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $60.00 price target (up from $54.00) on shares of Moelis & Company in a report on Thursday, July 25th. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $61.00.

Moelis & Company Stock Down 0.8 %

Shares of Moelis & Company stock opened at $71.32 on Friday. Moelis & Company has a 52 week low of $38.58 and a 52 week high of $72.80. The company has a market capitalization of $5.33 billion, a PE ratio of -375.37 and a beta of 1.33. The stock’s fifty day moving average is $66.97 and its two-hundred day moving average is $60.26.

Moelis & Company (NYSE:MC) last announced its quarterly earnings data on Wednesday, July 24th. The asset manager reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.07. The company 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%. The firm’s revenue for the quarter was up 47.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.04) EPS. As a group, research analysts anticipate that Moelis & Company will post 1.08 earnings per share for the current year.

Moelis & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, August 5th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date of this dividend was Monday, August 5th. Moelis & Company’s dividend payout ratio (DPR) is presently -1,263.16%.

Insiders Place Their Bets

In other Moelis & Company news, CFO Joseph Simon sold 6,723 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $64.00, for a total transaction of $430,272.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Kenneth Shropshire sold 495 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now owns 9,372 shares in the company, valued at $649,385.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Joseph Simon sold 6,723 shares of Moelis & Company stock in a transaction that occurred on Thursday, July 25th. The shares were 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 ninety days, insiders sold 12,526 shares of company stock worth $830,133. 6.40% of the stock is currently owned by company 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.