Legal & General Group Plc Buys 22,283 Shares of Moelis & Company $MC

Legal & General Group Plc boosted its position in Moelis & Company (NYSE:MC) by 11.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 214,303 shares of the asset manager’s stock after purchasing an additional 22,283 shares during the quarter. Legal & General Group Plc owned approximately 0.27% of Moelis & Company worth $13,355,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of MC. Canton Hathaway LLC acquired a new position in shares of Moelis & Company in the 2nd quarter valued at about $51,000. eCIO Inc. purchased a new stake in Moelis & Company during the 1st quarter worth approximately $50,000. Neo Ivy Capital Management purchased a new position in Moelis & Company in the 2nd quarter valued at $75,000. New Age Alpha Advisors LLC acquired a new position in Moelis & Company during the first quarter worth $107,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Moelis & Company in the 1st quarter valued at approximately $124,000. 91.53% of the stock is owned by hedge funds and other institutional investors.

Moelis & Company Trading Down 0.1%

Shares of MC stock opened at $64.17 on Friday. The company has a market capitalization of $5.03 billion, a PE ratio of 21.46 and a beta of 1.80. The firm has a fifty day simple moving average of $66.57 and a 200-day simple moving average of $66.54. Moelis & Company has a twelve month low of $47.00 and a twelve month high of $82.89.

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

Moelis & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Monday, November 10th will be given 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 yield of 4.1%. Moelis & Company’s payout ratio is presently 86.96%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on MC shares. Seaport Res Ptn upgraded Moelis & Company from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 30th. Keefe, Bruyette & Woods decreased their price target on Moelis & Company from $80.00 to $78.00 and set an “outperform” rating for the company in a report on Thursday, October 30th. Zacks Research lowered Moelis & Company from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 8th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Moelis & Company in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft started coverage on Moelis & Company in a research note on Thursday, October 9th. They set a “buy” rating and a $80.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Moelis & Company has an average rating of “Hold” and a consensus target price of $71.57.

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.