Royal Bank of Canada Has $32.65 Million Position in Moelis & Company (NYSE:MC)

Royal Bank of Canada reduced its stake in shares of Moelis & Company (NYSE:MC) by 32.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 441,970 shares of the asset manager’s stock after selling 214,457 shares during the quarter. Royal Bank of Canada’s holdings in Moelis & Company were worth $32,652,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MC. CIBC Private Wealth Group LLC increased its stake in shares of Moelis & Company by 52.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 398 shares of the asset manager’s stock valued at $30,000 after buying an additional 137 shares in the last quarter. Headlands Technologies LLC bought a new position in Moelis & Company during the fourth quarter worth about $31,000. R Squared Ltd bought a new position in Moelis & Company during the fourth quarter worth about $47,000. Jones Financial Companies Lllp raised its position in shares of Moelis & Company by 148.3% during the fourth quarter. Jones Financial Companies Lllp now owns 822 shares of the asset manager’s stock worth $61,000 after purchasing an additional 491 shares during the period. Finally, AlphaQuest LLC acquired a new stake in shares of Moelis & Company during the fourth quarter worth about $61,000. 91.53% of the stock is currently owned by institutional investors and hedge funds.

Moelis & Company Stock Performance

NYSE:MC opened at $56.53 on Friday. The stock has a fifty day moving average price of $55.55 and a 200-day moving average price of $67.46. The company has a market cap of $4.44 billion, a price-to-earnings ratio of 32.12 and a beta of 1.66. Moelis & Company has a fifty-two week low of $47.00 and a fifty-two week high of $82.89.

Moelis & Company (NYSE:MC) last posted its quarterly earnings results on Wednesday, April 23rd. The asset manager reported $0.64 EPS for the quarter, topping 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 quarter in the previous year, the firm earned $0.22 EPS. Moelis & Company’s revenue was up 41.0% on a year-over-year basis. Research analysts predict that Moelis & Company will post 2.97 EPS for the current fiscal year.

Moelis & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Monday, May 5th will be given a dividend of $0.65 per share. The ex-dividend date is Monday, May 5th. This represents a $2.60 annualized dividend and a dividend yield of 4.60%. Moelis & Company’s dividend payout ratio is currently 119.27%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MC. JMP Securities reaffirmed a “market perform” rating on shares of Moelis & Company in a research report on Thursday, April 24th. Wells Fargo & Company lowered their price target on Moelis & Company from $55.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. JPMorgan Chase & Co. reduced their target price on Moelis & Company from $55.00 to $52.00 and set a “neutral” rating for the company in a research note on Thursday, April 24th. Morgan Stanley reduced their target price on Moelis & Company from $70.00 to $42.00 and set an “underweight” rating for the company in a research note on Monday, April 7th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $92.00 price target (up from $86.00) on shares of Moelis & Company in a research note on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Moelis & Company presently has a consensus rating of “Hold” and a consensus price target of $59.83.

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.