Thrivent Financial for Lutherans Sells 3,149 Shares of Moelis & Company (NYSE:MC)

Thrivent Financial for Lutherans cut its stake in Moelis & Company (NYSE:MC) by 5.4% during the third quarter, HoldingsChannel reports. The firm owned 55,256 shares of the asset manager’s stock after selling 3,149 shares during the period. Thrivent Financial for Lutherans’ holdings in Moelis & Company were worth $3,786,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Natixis Advisors LLC boosted its holdings in shares of Moelis & Company by 13.7% in the 3rd quarter. Natixis Advisors LLC now owns 804,860 shares of the asset manager’s stock valued at $55,141,000 after buying an additional 96,720 shares in the last quarter. Empowered Funds LLC grew its holdings in Moelis & Company by 5.9% in the third quarter. Empowered Funds LLC now owns 30,514 shares of the asset manager’s stock worth $2,091,000 after purchasing an additional 1,706 shares during the last quarter. OneDigital Investment Advisors LLC increased its position in shares of Moelis & Company by 1.3% during the third quarter. OneDigital Investment Advisors LLC now owns 13,812 shares of the asset manager’s stock worth $946,000 after purchasing an additional 172 shares in the last quarter. KBC Group NV lifted its holdings in shares of Moelis & Company by 24.4% during the 3rd quarter. KBC Group NV now owns 2,068 shares of the asset manager’s stock valued at $142,000 after purchasing an additional 405 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in Moelis & Company by 72.2% during the 3rd quarter. Victory Capital Management Inc. now owns 85,202 shares of the asset manager’s stock worth $5,837,000 after buying an additional 35,713 shares during the last quarter. 91.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on MC shares. UBS Group increased their price target on Moelis & Company from $54.00 to $60.00 and gave the company a “sell” rating in a research note on Tuesday, October 8th. Morgan Stanley dropped their target price on 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 assumed coverage on Moelis & Company in a research note on Thursday, September 12th. They set an “equal weight” rating and a $70.00 price objective for the company. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat.com, Moelis & Company presently has an average rating of “Hold” and an average price target of $60.83.

Moelis & Company Stock Performance

Shares of MC opened at $75.05 on Monday. Moelis & Company has a 1 year low of $44.53 and a 1 year high of $81.60. The stock has a 50-day simple moving average of $70.46 and a 200-day simple moving average of $63.65. The stock has a market capitalization of $5.62 billion, a PE ratio of 141.60 and a beta of 1.33.

Moelis & Company (NYSE:MC) last announced 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 firm had revenue of $273.76 million during the quarter, compared to analysts’ expectations of $273.58 million. Moelis & Company had a net margin of 4.22% and a return on equity of 12.15%. Moelis & Company’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.15) earnings per share. Analysts predict that Moelis & Company will post 0.96 EPS for the current year.

Moelis & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 4th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.20%. The ex-dividend date is Monday, November 4th. Moelis & Company’s payout ratio is 452.83%.

Moelis & Company 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.