Bank of New York Mellon Corp Trims Position in Moelis & Company $MC

Bank of New York Mellon Corp trimmed its holdings in Moelis & Company (NYSE:MC) by 18.7% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,004,824 shares of the asset manager’s stock after selling 231,174 shares during the period. Bank of New York Mellon Corp’s holdings in Moelis & Company were worth $69,072,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in MC. Integrated Wealth Concepts LLC raised its holdings in shares of Moelis & Company by 9.9% in the first quarter. Integrated Wealth Concepts LLC now owns 4,799 shares of the asset manager’s stock valued at $280,000 after buying an additional 432 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Moelis & Company by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,080 shares of the asset manager’s stock worth $2,456,000 after acquiring an additional 1,839 shares during the period. United Services Automobile Association acquired a new position in shares of Moelis & Company during the first quarter worth about $264,000. Empowered Funds LLC increased its stake in shares of Moelis & Company by 37.6% during the first quarter. Empowered Funds LLC now owns 42,828 shares of the asset manager’s stock worth $2,499,000 after acquiring an additional 11,692 shares during the period. Finally, Creative Planning increased its stake in shares of Moelis & Company by 14.2% during the second quarter. Creative Planning now owns 6,639 shares of the asset manager’s stock worth $414,000 after acquiring an additional 827 shares during the period. 91.53% of the stock is owned by hedge funds and other institutional investors.

Moelis & Company Trading Up 3.1%

Shares of MC opened at $70.86 on Wednesday. The firm’s 50-day moving average is $64.80 and its two-hundred day moving average is $65.76. Moelis & Company has a twelve month low of $51.06 and a twelve month high of $78.22. The firm has a market capitalization of $5.57 billion, a P/E ratio of 25.49, a PEG ratio of 0.82 and a beta of 1.85.

Moelis & Company (NYSE:MC) last issued its earnings results on Wednesday, April 29th. The asset manager reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.09). Moelis & Company had a return on equity of 38.94% and a net margin of 14.46%.The company had revenue of $319.78 million for the quarter, compared to analyst estimates of $321.51 million. During the same quarter in the previous year, the company posted $0.64 earnings per share. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. Analysts predict that Moelis & Company will post 3.17 EPS for the current year.

Moelis & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Monday, May 11th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 3.7%. The ex-dividend date is Monday, May 11th. Moelis & Company’s dividend payout ratio is presently 93.53%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on MC shares. Morgan Stanley dropped their price target on shares of Moelis & Company from $90.00 to $83.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Wall Street Zen lowered shares of Moelis & Company from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Keefe, Bruyette & Woods dropped their price target on shares of Moelis & Company from $80.00 to $64.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 8th. Weiss Ratings lowered shares of Moelis & Company from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 26th. Finally, Zacks Research lowered shares of Moelis & Company from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 5th. Two research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $71.89.

Moelis & 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. The company was founded by Kenneth David Moelis, Navid Mahmoodzadegan, Jeffrey Raich and Elizabeth Ann Crain in July 2007 and is headquartered in New York, NY.