JPMorgan Chase & Co. Boosts Stake in Moelis & Company (NYSE:MC)

JPMorgan Chase & Co. lifted its holdings in Moelis & Company (NYSE:MCGet Rating) by 6.9% in the 2nd quarter, Holdings Channel reports. The firm owned 2,518,106 shares of the asset manager’s stock after acquiring an additional 163,205 shares during the period. JPMorgan Chase & Co.’s holdings in Moelis & Company were worth $99,089,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of MC. IndexIQ Advisors LLC grew its holdings in shares of Moelis & Company by 3.0% in the first quarter. IndexIQ Advisors LLC now owns 8,500 shares of the asset manager’s stock worth $399,000 after acquiring an additional 248 shares during the period. Captrust Financial Advisors grew its holdings in shares of Moelis & Company by 3.0% in the first quarter. Captrust Financial Advisors now owns 8,723 shares of the asset manager’s stock worth $410,000 after acquiring an additional 254 shares during the period. Arizona State Retirement System grew its holdings in shares of Moelis & Company by 2.7% in the second quarter. Arizona State Retirement System now owns 16,925 shares of the asset manager’s stock worth $666,000 after acquiring an additional 445 shares during the period. Mercer Global Advisors Inc. ADV grew its holdings in shares of Moelis & Company by 11.2% in the first quarter. Mercer Global Advisors Inc. ADV now owns 5,158 shares of the asset manager’s stock worth $242,000 after acquiring an additional 519 shares during the period. Finally, BTC Capital Management Inc. grew its holdings in shares of Moelis & Company by 9.5% in the first quarter. BTC Capital Management Inc. now owns 6,709 shares of the asset manager’s stock worth $315,000 after acquiring an additional 582 shares during the period. Hedge funds and other institutional investors own 90.87% of the company’s stock.

Moelis & Company Stock Up 0.7 %

NYSE MC opened at $42.43 on Wednesday. The firm has a market cap of $2.91 billion, a price-to-earnings ratio of 12.94 and a beta of 1.40. The business has a 50-day moving average price of $39.25 and a 200-day moving average price of $41.55. Moelis & Company has a twelve month low of $33.12 and a twelve month high of $67.32.

Moelis & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Monday, November 14th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.66%. The ex-dividend date of this dividend is Thursday, November 10th. Moelis & Company’s dividend payout ratio (DPR) is 73.17%.

Wall Street Analyst Weigh In

Several brokerages recently commented on MC. StockNews.com began coverage on Moelis & Company in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Keefe, Bruyette & Woods lowered Moelis & Company from a “market perform” rating to an “underperform” rating and cut their price target for the company from $40.00 to $37.00 in a report on Thursday, November 3rd. UBS Group lowered Moelis & Company from a “neutral” rating to a “sell” rating and cut their price target for the company from $43.00 to $35.00 in a report on Friday, September 23rd. The Goldman Sachs Group cut their price target on Moelis & Company from $43.00 to $38.00 and set a “neutral” rating for the company in a report on Friday, October 7th. Finally, JPMorgan Chase & Co. cut their price target on Moelis & Company from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Thursday, November 3rd. Four analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $39.00.

Insider Transactions at Moelis & Company

In other news, CFO Joseph Simon sold 12,370 shares of the company’s stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $45.98, for a total value of $568,772.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Kenneth Moelis sold 82,921 shares of the business’s stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $46.01, for a total value of $3,815,195.21. Following the sale, the chief executive officer now directly owns 49,827 shares in the company, valued at $2,292,540.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Joseph Simon sold 12,370 shares of the business’s stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $45.98, for a total value of $568,772.60. The disclosure for this sale can be found here. Insiders sold a total of 105,544 shares of company stock valued at $4,850,992 over the last 90 days. Company insiders own 7.97% of the company’s stock.

About Moelis & Company

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Moelis & Company operates as an investment banking advisory firm. It offers advisory services in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets transactions, and other corporate finance matters. The company offers its services to public multinational corporations, middle market private companies, financial sponsors, entrepreneurs, governments, and sovereign wealth funds.

Further Reading

Want to see what other hedge funds are holding MC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Moelis & Company (NYSE:MCGet Rating).

Institutional Ownership by Quarter for Moelis & Company (NYSE:MC)

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