JPMorgan Chase & Co. Acquires 17,220 Shares of Moelis & Company $MC

JPMorgan Chase & Co. grew its holdings in shares of Moelis & Company (NYSE:MC) by 1.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 962,778 shares of the asset manager’s stock after buying an additional 17,220 shares during the period. JPMorgan Chase & Co. owned approximately 1.23% of Moelis & Company worth $68,665,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of MC. Charles Schwab Investment Management Inc. lifted its position in shares of Moelis & Company by 4.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,080,123 shares of the asset manager’s stock valued at $191,953,000 after acquiring an additional 137,824 shares during the period. State Street Corp raised its holdings in shares of Moelis & Company by 3.2% during the second quarter. State Street Corp now owns 2,862,337 shares of the asset manager’s stock valued at $178,381,000 after purchasing an additional 89,143 shares during the period. Wasatch Advisors LP boosted its position in shares of Moelis & Company by 4.1% during the 2nd quarter. Wasatch Advisors LP now owns 2,845,605 shares of the asset manager’s stock worth $177,338,000 after purchasing an additional 112,281 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Moelis & Company by 6.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,396,230 shares of the asset manager’s stock valued at $149,333,000 after buying an additional 135,885 shares during the period. Finally, Geode Capital Management LLC increased its position in Moelis & Company by 26.0% in the 2nd quarter. Geode Capital Management LLC now owns 2,052,862 shares of the asset manager’s stock valued at $127,947,000 after buying an additional 424,138 shares in the last quarter. Institutional investors own 91.53% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MC. Morgan Stanley increased their price target on Moelis & Company from $89.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th. Keefe, Bruyette & Woods lowered Moelis & Company from an “outperform” rating to a “market perform” rating and upped their target price for the stock from $78.00 to $80.00 in a research report on Tuesday, December 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of Moelis & Company in a report on Monday, December 29th. Bank of America assumed coverage on shares of Moelis & Company in a research note on Monday, January 26th. They set a “neutral” rating and a $81.00 price target for the company. Finally, UBS Group raised their price objective on shares of Moelis & Company from $70.00 to $74.00 and gave the company a “neutral” rating in a research note on Wednesday, January 7th. Two investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $76.33.

Insider Transactions at Moelis & Company

In other Moelis & Company news, General Counsel Osamu R. Watanabe sold 2,765 shares of the 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 approximately $309,967.63. This trade represents a 35.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 6.40% of the company’s stock.

Moelis & Company Trading Up 2.7%

Shares of Moelis & Company stock opened at $62.40 on Wednesday. The company has a market capitalization of $4.89 billion, a P/E ratio of 21.22, a price-to-earnings-growth ratio of 0.66 and a beta of 1.87. The stock has a fifty day simple moving average of $71.06 and a 200 day simple moving average of $69.60. Moelis & Company has a 12-month low of $47.00 and a 12-month high of $78.22.

Moelis & Company (NYSE:MC) last issued its quarterly earnings data on Wednesday, February 4th. The asset manager reported $1.13 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.37. Moelis & Company had a return on equity of 43.19% and a net margin of 15.36%.The business had revenue of $487.94 million for the quarter, compared to analysts’ expectations of $430.17 million. During the same period last year, the business earned $1.18 EPS. The business’s revenue was up 11.2% on a year-over-year basis. On average, analysts predict that Moelis & Company will post 2.97 EPS for the current year.

Moelis & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Tuesday, February 17th will be issued a dividend of $0.65 per share. The ex-dividend date is Tuesday, February 17th. This represents a $2.60 annualized dividend and a yield of 4.2%. Moelis & Company’s payout ratio is 88.44%.

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.