Moelis & Company $MC Shares Sold by Citigroup Inc.

Citigroup Inc. lessened its holdings in Moelis & Company (NYSE:MC) by 15.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 107,810 shares of the asset manager’s stock after selling 19,034 shares during the quarter. Citigroup Inc. owned approximately 0.14% of Moelis & Company worth $7,689,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. Alps Advisors Inc. acquired a new stake in shares of Moelis & Company during the third quarter worth about $6,105,000. AE Wealth Management LLC purchased a new position in Moelis & Company during the 2nd quarter worth approximately $207,000. JPMorgan Chase & Co. increased its position in Moelis & Company by 1.8% during the third quarter. JPMorgan Chase & Co. now owns 962,778 shares of the asset manager’s stock worth $68,665,000 after buying an additional 17,220 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in Moelis & Company by 5.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 354,658 shares of the asset manager’s stock valued at $23,691,000 after buying an additional 17,740 shares during the last quarter. Finally, AlphaQuest LLC lifted its stake in Moelis & Company by 354.1% in the third quarter. AlphaQuest LLC now owns 42,789 shares of the asset manager’s stock valued at $3,052,000 after buying an additional 33,367 shares during the last quarter. 91.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Moelis & Company

In related news, General Counsel Osamu R. Watanabe sold 2,765 shares of the firm’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $62.23, for a total value of $172,065.95. Following the completion of the sale, the general counsel owned 4,981 shares in the company, valued at $309,967.63. This trade represents a 35.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.40% of the stock is owned by company insiders.

Moelis & Company Trading Down 7.2%

Shares of MC stock opened at $59.35 on Monday. The stock has a 50 day simple moving average of $70.60 and a 200-day simple moving average of $69.37. The company has a market cap of $4.65 billion, a price-to-earnings ratio of 20.19, a price-to-earnings-growth ratio of 0.64 and a beta of 1.90. Moelis & Company has a 12-month low of $47.00 and a 12-month high of $78.22.

Moelis & Company (NYSE:MC) last announced its quarterly earnings data on Wednesday, February 4th. The asset manager reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.37. The firm had revenue of $487.94 million for the quarter, compared to analyst estimates of $430.17 million. Moelis & Company had a return on equity of 41.67% and a net margin of 15.36%.Moelis & Company’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.18 earnings per share. On average, equities analysts forecast that Moelis & Company will post 2.97 earnings per share for the current fiscal year.

Moelis & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Tuesday, February 17th will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.4%. Moelis & Company’s dividend payout ratio is 88.44%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MC. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Moelis & Company in a report on Monday, December 29th. Keefe, Bruyette & Woods lowered shares of Moelis & Company from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $78.00 to $80.00 in a research note on Tuesday, December 16th. Bank of America began coverage on shares of Moelis & Company in a research note on Monday, January 26th. They set a “neutral” rating and a $81.00 target price for the company. JPMorgan Chase & Co. raised their price target on Moelis & Company from $80.00 to $81.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Finally, UBS Group upped their price objective on Moelis & Company from $70.00 to $74.00 and gave the company a “neutral” rating in a research note on Wednesday, January 7th. Two analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $76.33.

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. 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.