Nuveen Asset Management LLC Has $13.11 Million Position in Moelis & Company (NYSE:MC)

Nuveen Asset Management LLC lessened its holdings in shares of Moelis & Company (NYSE:MC) by 0.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 177,507 shares of the asset manager’s stock after selling 1,107 shares during the period. Nuveen Asset Management LLC owned 0.24% of Moelis & Company worth $13,114,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Dakota Wealth Management acquired a new position in Moelis & Company during the 4th quarter worth about $256,000. Blue Trust Inc. raised its stake in shares of Moelis & Company by 47.7% in the fourth quarter. Blue Trust Inc. now owns 1,597 shares of the asset manager’s stock worth $109,000 after acquiring an additional 516 shares during the last quarter. KBC Group NV raised its stake in shares of Moelis & Company by 46.8% in the fourth quarter. KBC Group NV now owns 3,035 shares of the asset manager’s stock worth $224,000 after acquiring an additional 967 shares during the last quarter. R Squared Ltd acquired a new position in shares of Moelis & Company during the fourth quarter worth approximately $47,000. Finally, New England Research & Management Inc. acquired a new position in shares of Moelis & Company during the fourth quarter worth approximately $1,125,000. 91.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MC has been the subject of a number of research reports. The Goldman Sachs Group raised their price target on shares of Moelis & Company from $56.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, May 15th. Wells Fargo & Company lowered their target price on Moelis & Company from $55.00 to $50.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. Morgan Stanley cut their price target on Moelis & Company from $70.00 to $42.00 and set an “underweight” rating on the stock in a research note on Monday, April 7th. JPMorgan Chase & Co. decreased their price target on Moelis & Company from $55.00 to $52.00 and set a “neutral” rating on the stock in a report on Thursday, April 24th. Finally, Wall Street Zen lowered Moelis & Company from a “buy” rating to a “hold” rating in a research report on Thursday, March 13th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $59.83.

Moelis & Company Trading Down 0.1%

NYSE:MC opened at $56.51 on Tuesday. Moelis & Company has a 1-year low of $47.00 and a 1-year high of $82.89. The firm has a market capitalization of $4.44 billion, a price-to-earnings ratio of 32.11 and a beta of 1.66. The business’s 50-day moving average price is $55.42 and its two-hundred day moving average price is $67.08.

Moelis & Company (NYSE:MC) last announced its quarterly earnings results on Wednesday, April 23rd. The asset manager reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.07. Moelis & Company had a return on equity of 38.49% and a net margin of 11.39%. The company had revenue of $306.59 million during the quarter, compared to analysts’ expectations of $309.67 million. During the same period in the prior year, the business posted $0.22 EPS. Moelis & Company’s revenue was up 41.0% on a year-over-year basis. Sell-side analysts predict that Moelis & Company will post 2.97 earnings per share for the current year.

Moelis & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Monday, May 5th will be issued a $0.65 dividend. The ex-dividend date is Monday, May 5th. This represents a $2.60 annualized dividend and a yield of 4.60%. Moelis & Company’s dividend payout ratio (DPR) is presently 119.27%.

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.