Old Mutual Global Investors UK Ltd. lifted its position in shares of Moelis & Co (NYSE:MC) by 48.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,484 shares of the asset manager’s stock after acquiring an additional 10,948 shares during the quarter. Old Mutual Global Investors UK Ltd. owned 0.06% of Moelis & Co worth $1,623,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the company. Harbor Advisors LLC boosted its stake in shares of Moelis & Co by 93.4% during the 4th quarter. Harbor Advisors LLC now owns 11,800 shares of the asset manager’s stock worth $572,000 after acquiring an additional 5,700 shares in the last quarter. California Public Employees Retirement System boosted its stake in shares of Moelis & Co by 17.4% during the 4th quarter. California Public Employees Retirement System now owns 19,388 shares of the asset manager’s stock worth $940,000 after acquiring an additional 2,868 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of Moelis & Co during the 4th quarter worth approximately $553,000. American Century Companies Inc. lifted its stake in Moelis & Co by 17.5% in the 4th quarter. American Century Companies Inc. now owns 662,870 shares of the asset manager’s stock valued at $32,149,000 after buying an additional 98,571 shares in the last quarter. Finally, Meeder Asset Management Inc. lifted its stake in Moelis & Co by 54.4% in the 4th quarter. Meeder Asset Management Inc. now owns 7,982 shares of the asset manager’s stock valued at $387,000 after buying an additional 2,813 shares in the last quarter. 56.12% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms recently issued reports on MC. Bank of America upped their target price on Moelis & Co from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, February 8th. ValuEngine raised Moelis & Co from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Zacks Investment Research raised Moelis & Co from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research note on Tuesday. Morgan Stanley upped their target price on Moelis & Co from $49.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. Finally, UBS Group upped their target price on Moelis & Co from $42.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, October 26th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Moelis & Co presently has an average rating of “Buy” and a consensus target price of $50.67.
Moelis & Co (NYSE:MC) last posted its earnings results on Wednesday, February 7th. The asset manager reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.10. Moelis & Co had a return on equity of 48.98% and a net margin of 4.29%. The firm had revenue of $169.17 million for the quarter, compared to analyst estimates of $160.22 million. During the same quarter in the prior year, the company earned $0.66 EPS. Moelis & Co’s revenue was down 17.3% on a year-over-year basis. analysts predict that Moelis & Co will post 2.73 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 7th. Shareholders of record on Tuesday, February 20th will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date of this dividend is Friday, February 16th. This is a positive change from Moelis & Co’s previous quarterly dividend of $0.37. Moelis & Co’s dividend payout ratio is currently 187.34%.
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Moelis & Co Profile
Moelis & Company is an investment banking advisory company. The Company provides strategic and financial advice to a client base, including corporations, governments and financial sponsors. The Company offers financial advisory services across various industry sectors. It advices its clients on decisions, including mergers and acquisitions (M&A), recapitalizations and restructurings, and other corporate finance matters.
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