Apollon Wealth Management LLC Trims Position in Moelis & Company (NYSE:MC)

Apollon Wealth Management LLC lessened its holdings in shares of Moelis & Company (NYSE:MC) by 2.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,424 shares of the asset manager’s stock after selling 216 shares during the quarter. Apollon Wealth Management LLC’s holdings in Moelis & Company were worth $622,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Moelis & Company during the 3rd quarter valued at about $3,433,000. Natixis Advisors LLC boosted its position in shares of Moelis & Company by 13.7% during the 3rd quarter. Natixis Advisors LLC now owns 804,860 shares of the asset manager’s stock valued at $55,141,000 after acquiring an additional 96,720 shares during the last quarter. Hodges Capital Management Inc. bought a new stake in Moelis & Company in the 4th quarter worth approximately $9,149,000. Cerity Partners LLC lifted its position in Moelis & Company by 129.8% in the 3rd quarter. Cerity Partners LLC now owns 13,845 shares of the asset manager’s stock worth $949,000 after buying an additional 7,819 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Moelis & Company by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 922,920 shares of the asset manager’s stock worth $63,229,000 after buying an additional 16,830 shares during the last quarter. Institutional investors own 91.53% of the company’s stock.

Moelis & Company Stock Performance

Shares of MC stock opened at $76.03 on Thursday. Moelis & Company has a fifty-two week low of $46.24 and a fifty-two week high of $82.89. The stock has a 50 day moving average price of $75.65 and a two-hundred day moving average price of $71.13. The company has a market capitalization of $5.70 billion, a P/E ratio of 43.20 and a beta of 1.40.

Moelis & Company (NYSE:MC) last announced its quarterly earnings data on Wednesday, February 5th. The asset manager reported $1.18 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.79. Moelis & Company had a return on equity of 38.49% and a net margin of 11.39%. As a group, equities analysts predict that Moelis & Company will post 2.57 earnings per share for the current year.

Moelis & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, February 18th will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This is a boost from Moelis & Company’s previous quarterly dividend of $0.60. This represents a $2.60 annualized dividend and a dividend yield of 3.42%. Moelis & Company’s payout ratio is 136.36%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. The Goldman Sachs Group boosted their target price on Moelis & Company from $79.00 to $87.00 and gave the stock a “neutral” rating in a research report on Thursday, February 6th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $92.00 target price (up previously from $86.00) on shares of Moelis & Company in a research report on Thursday, February 6th. JMP Securities restated a “market perform” rating on shares of Moelis & Company in a research report on Thursday, February 6th. Morgan Stanley boosted their target price on Moelis & Company from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Finally, Wells Fargo & Company boosted their target price on Moelis & Company from $77.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Moelis & Company has an average rating of “Hold” and a consensus price target of $78.83.

Moelis & Company Profile

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, as well as strategic, capital structure, and private funds advisory.