KBC Group NV Has $142,000 Position in Moelis & Company (NYSE:MC)

KBC Group NV raised its position in Moelis & Company (NYSE:MC) by 24.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,068 shares of the asset manager’s stock after acquiring an additional 405 shares during the quarter. KBC Group NV’s holdings in Moelis & Company were worth $142,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. UniSuper Management Pty Ltd acquired a new position in shares of Moelis & Company during the 1st quarter worth approximately $801,000. Wealth Enhancement Advisory Services LLC lifted its stake in Moelis & Company by 51.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 135,399 shares of the asset manager’s stock valued at $7,699,000 after buying an additional 46,226 shares during the period. Sei Investments Co. grew its position in shares of Moelis & Company by 18.2% during the 2nd quarter. Sei Investments Co. now owns 305,871 shares of the asset manager’s stock worth $17,392,000 after buying an additional 47,176 shares during the period. XTX Topco Ltd grew its holdings in Moelis & Company by 274.4% in the second quarter. XTX Topco Ltd now owns 16,524 shares of the asset manager’s stock worth $940,000 after purchasing an additional 12,110 shares during the period. Finally, Legacy Capital Wealth Partners LLC bought a new stake in Moelis & Company in the third quarter valued at $465,000. Institutional investors own 91.53% of the company’s stock.

Moelis & Company Trading Up 1.8 %

Moelis & Company stock opened at $74.70 on Friday. Moelis & Company has a 1-year low of $44.32 and a 1-year high of $81.60. The firm has a market capitalization of $5.60 billion, a PE ratio of 141.11 and a beta of 1.33. The firm’s 50 day simple moving average is $70.10 and its 200 day simple moving average is $63.33.

Moelis & Company (NYSE:MC) last released its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. The business had revenue of $273.76 million for the quarter, compared to the consensus estimate of $273.58 million. Moelis & Company had a return on equity of 12.15% and a net margin of 4.22%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the business posted ($0.15) earnings per share. Research analysts forecast that Moelis & Company will post 0.96 earnings per share for the current year.

Moelis & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 4th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend is Monday, November 4th. Moelis & Company’s payout ratio is presently 452.83%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on MC shares. JPMorgan Chase & Co. upped their price objective on shares of Moelis & Company from $50.00 to $51.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. UBS Group boosted their price target on shares of Moelis & Company from $54.00 to $60.00 and gave the stock a “sell” rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $60.00 price objective (up previously from $54.00) on shares of Moelis & Company in a research note on Thursday, July 25th. Morgan Stanley lowered their price objective on shares of Moelis & Company from $67.00 to $66.00 and set an “underweight” rating on the stock in a research report on Thursday, October 24th. Finally, Wells Fargo & Company began coverage on Moelis & Company in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $70.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $60.83.

About Moelis & Company

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.