Bank of New York Mellon Corp Buys 11,759 Shares of Moelis & Company $MC

Bank of New York Mellon Corp grew its position in Moelis & Company (NYSE:MC) by 1.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 651,332 shares of the asset manager’s stock after purchasing an additional 11,759 shares during the quarter. Bank of New York Mellon Corp owned about 0.83% of Moelis & Company worth $40,591,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its stake in Moelis & Company by 214.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,942,299 shares of the asset manager’s stock valued at $171,713,000 after acquiring an additional 2,006,747 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Moelis & Company by 32.6% during the first quarter. Goldman Sachs Group Inc. now owns 2,356,893 shares of the asset manager’s stock valued at $137,548,000 after acquiring an additional 579,529 shares during the last quarter. Jennison Associates LLC lifted its holdings in Moelis & Company by 457.0% during the 1st quarter. Jennison Associates LLC now owns 485,238 shares of the asset manager’s stock worth $28,318,000 after buying an additional 398,129 shares during the period. Millennium Management LLC lifted its stake in shares of Moelis & Company by 311.4% in the first quarter. Millennium Management LLC now owns 465,677 shares of the asset manager’s stock worth $27,177,000 after acquiring an additional 352,490 shares during the period. Finally, Nuveen LLC acquired a new position in shares of Moelis & Company in the 1st quarter worth approximately $19,561,000. 91.53% of the stock is owned by institutional investors.

Moelis & Company Stock Up 2.1%

MC stock opened at $65.28 on Thursday. Moelis & Company has a twelve month low of $47.00 and a twelve month high of $82.89. The firm has a market cap of $5.11 billion, a price-to-earnings ratio of 21.83 and a beta of 1.80. The business’s fifty day simple moving average is $69.31 and its two-hundred day simple moving average is $65.89.

Moelis & Company (NYSE:MC) last released its quarterly earnings data on Wednesday, October 29th. The asset manager reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.11. The firm had revenue of $356.89 million during the quarter, compared to the consensus estimate of $336.14 million. Moelis & Company had a return on equity of 47.11% and a net margin of 15.98%.The firm’s quarterly revenue was up 30.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.22 earnings per share. Research analysts expect that Moelis & Company will post 2.97 EPS for the current year.

Moelis & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Monday, November 10th will be issued a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, November 10th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.0%. Moelis & Company’s payout ratio is 86.96%.

Insider Buying and Selling

In other Moelis & Company news, Director Kenneth Shropshire sold 2,615 shares of Moelis & Company stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $72.52, for a total transaction of $189,639.80. Following the completion of the sale, the director directly owned 7,109 shares in the company, valued at approximately $515,544.68. The trade was a 26.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 6.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

MC has been the subject of several research reports. Zacks Research downgraded Moelis & Company from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 8th. BMO Capital Markets started coverage on shares of Moelis & Company in a report on Friday, October 3rd. They issued a “market perform” rating and a $74.00 target price for the company. Morgan Stanley increased their price target on Moelis & Company from $74.00 to $90.00 and gave the company an “overweight” rating in a research report on Monday, September 8th. Deutsche Bank Aktiengesellschaft began coverage on Moelis & Company in a research note on Thursday, October 9th. They set a “buy” rating and a $80.00 target price on the stock. Finally, Seaport Res Ptn upgraded shares of Moelis & Company from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $71.57.

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.