Pitcairn Co. Has $716,000 Holdings in Moelis & Company (NYSE:MC)

Pitcairn Co. grew its holdings in Moelis & Company (NYSE:MC) by 2.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,687 shares of the asset manager’s stock after purchasing an additional 257 shares during the period. Pitcairn Co.’s holdings in Moelis & Company were worth $716,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Madison Investment Advisors LLC acquired a new stake in shares of Moelis & Company during the 4th quarter valued at $86,062,000. Norges Bank purchased a new stake in shares of Moelis & Company during the fourth quarter worth $52,610,000. Raymond James Financial Inc. acquired a new stake in Moelis & Company during the fourth quarter valued at $27,855,000. Fisher Asset Management LLC grew its stake in Moelis & Company by 252.8% in the fourth quarter. Fisher Asset Management LLC now owns 220,770 shares of the asset manager’s stock valued at $16,310,000 after purchasing an additional 158,200 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in Moelis & Company in the fourth quarter valued at about $10,158,000. 91.53% of the stock is owned by hedge funds and other institutional investors.

Moelis & Company Stock Down 4.7 %

NYSE:MC opened at $50.46 on Friday. The company’s 50 day moving average is $67.95 and its 200-day moving average is $71.05. Moelis & Company has a 12 month low of $46.24 and a 12 month high of $82.89. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of 28.67 and a beta of 1.43.

Moelis & Company (NYSE:MC) last announced its earnings results on Wednesday, February 5th. The asset manager reported $1.18 EPS for the quarter, topping the consensus estimate of $0.39 by $0.79. Moelis & Company had a net margin of 11.39% and a return on equity of 38.49%. Research analysts predict that Moelis & Company will post 2.97 EPS for the current fiscal year.

Moelis & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, February 18th were given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 5.15%. The ex-dividend date of this dividend was Tuesday, February 18th. This is a boost from Moelis & Company’s previous quarterly dividend of $0.60. Moelis & Company’s payout ratio is currently 147.73%.

Insider Activity at Moelis & Company

In related news, CEO Kenneth Moelis sold 9,712 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $74.00, for a total value of $718,688.00. Following the completion of the sale, the chief executive officer now owns 209,235 shares in the company, valued at approximately $15,483,390. This trade represents a 4.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Ciafone Katherine Pilcher sold 3,515 shares of Moelis & Company stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $74.00, for a total value of $260,110.00. Following the sale, the chief operating officer now directly owns 3,934 shares in the company, valued at approximately $291,116. This trade represents a 47.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,721 shares of company stock worth $1,677,017 in the last 90 days. 6.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company raised their price target on Moelis & Company from $77.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $92.00 target price (up from $86.00) on shares of Moelis & Company in a research note on Thursday, February 6th. Morgan Stanley restated an “underweight” rating and set a $70.00 price target (down previously from $100.00) on shares of Moelis & Company in a research note on Thursday, March 13th. JMP Securities reaffirmed a “market perform” rating on shares of Moelis & Company in a research note on Thursday, February 6th. Finally, StockNews.com cut shares of Moelis & Company from a “buy” rating to a “hold” rating in a report on Thursday, March 13th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $71.83.

Moelis & Company Company Profile

Moelis & Co operates as a holding company. It engages in the provision of financial advisory, capital raising and asset management services to a client base including corporations, governments, sovereign wealth funds and financial sponsors. The firm focuses on clients including large public multinational corporations, middle market private companies, financial sponsors, entrepreneurs and governments.