Legal & General Group Plc lessened its stake in shares of Moelis & Co (NYSE:MC) by 6.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 28,640 shares of the asset manager’s stock after selling 2,024 shares during the quarter. Legal & General Group Plc’s holdings in Moelis & Co were worth $805,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of MC. Acadian Asset Management LLC bought a new stake in shares of Moelis & Co during the fourth quarter worth $46,000. Rockefeller Capital Management L.P. bought a new stake in shares of Moelis & Co in the first quarter worth $50,000. Simon Quick Advisors LLC grew its stake in shares of Moelis & Co by 121.3% in the first quarter. Simon Quick Advisors LLC now owns 2,742 shares of the asset manager’s stock worth $77,000 after purchasing an additional 1,503 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Moelis & Co by 16.1% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,850 shares of the asset manager’s stock worth $123,000 after purchasing an additional 535 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of Moelis & Co by 1,129.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,266 shares of the asset manager’s stock worth $136,000 after purchasing an additional 3,919 shares during the last quarter. 82.11% of the stock is currently owned by hedge funds and other institutional investors.
Shares of MC opened at $30.79 on Wednesday. The company has a current ratio of 5.21, a quick ratio of 5.21 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $1.92 billion, a P/E ratio of 14.73 and a beta of 1.53. The firm’s fifty day simple moving average is $32.80 and its two-hundred day simple moving average is $32.10. Moelis & Co has a 12 month low of $22.11 and a 12 month high of $41.27.
Moelis & Co (NYSE:MC) last announced its quarterly earnings data on Wednesday, April 22nd. The asset manager reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.11. Moelis & Co had a net margin of 15.30% and a return on equity of 41.37%. The firm had revenue of $153.71 million for the quarter, compared to analyst estimates of $150.29 million. During the same quarter in the prior year, the business earned $0.27 earnings per share. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. As a group, research analysts predict that Moelis & Co will post 1.03 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, May 4th were issued a dividend of $0.255 per share. The ex-dividend date of this dividend was Friday, May 1st. This represents a $1.02 annualized dividend and a dividend yield of 3.31%. Moelis & Co’s dividend payout ratio is currently 52.04%.
In related news, insider Jeffrey Raich sold 1,500 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $30.76, for a total value of $46,140.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel Osamu R. Watanabe sold 8,472 shares of the company’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $30.12, for a total transaction of $255,176.64. Following the completion of the sale, the general counsel now owns 131 shares in the company, valued at approximately $3,945.72. The disclosure for this sale can be found here. Insiders have sold 113,750 shares of company stock worth $3,686,442 in the last quarter. Company insiders own 17.99% of the company’s stock.
Several analysts recently weighed in on MC shares. UBS Group cut shares of Moelis & Co from a “neutral” rating to a “sell” rating and set a $22.00 price objective on the stock. in a research note on Tuesday, April 14th. Morgan Stanley reduced their price objective on shares of Moelis & Co from $37.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 9th. JPMorgan Chase & Co. cut shares of Moelis & Co from an “overweight” rating to a “neutral” rating and set a $20.00 price objective on the stock. in a research note on Monday, March 23rd. JMP Securities cut their price target on shares of Moelis & Co from $45.00 to $39.00 and set a “market outperform” rating on the stock in a research report on Thursday, April 9th. Finally, TheStreet raised shares of Moelis & Co from a “c+” rating to a “b-” rating in a research report on Thursday, June 18th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. Moelis & Co presently has an average rating of “Hold” and a consensus price target of $32.43.
Moelis & Co Profile
Moelis & Company, an investment bank, provides strategic and financial advisory services in the United States and internationally. It advises clients in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets advisory, and other corporate finance matters. The company offers its services to public multinational corporations, governments, financial sponsors, middle market private companies, and individual entrepreneurs.
Featured Story: Momentum Investing
Want to see what other hedge funds are holding MC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Moelis & Co (NYSE:MC).
Receive News & Ratings for Moelis & Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Moelis & Co and related companies with MarketBeat.com's FREE daily email newsletter.