Everence Capital Management Inc. Decreases Stake in Moelis & Company (NYSE:MC)

Everence Capital Management Inc. cut its holdings in shares of Moelis & Company (NYSE:MC) by 28.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 6,780 shares of the asset manager’s stock after selling 2,660 shares during the quarter. Everence Capital Management Inc.’s holdings in Moelis & Company were worth $501,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. bought a new stake in shares of Moelis & Company during the 3rd quarter valued at $49,017,000. Pier Capital LLC bought a new position in shares of Moelis & Company in the third quarter valued at approximately $8,152,000. Jacobs Levy Equity Management Inc. bought a new position in shares of Moelis & Company in the third quarter valued at approximately $6,970,000. Natixis Advisors LLC grew its stake in Moelis & Company by 13.7% during the third quarter. Natixis Advisors LLC now owns 804,860 shares of the asset manager’s stock valued at $55,141,000 after acquiring an additional 96,720 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Moelis & Company by 322.4% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 98,000 shares of the asset manager’s stock worth $6,714,000 after purchasing an additional 74,800 shares in the last quarter. Institutional investors own 91.53% of the company’s stock.

Moelis & Company Price Performance

NYSE:MC opened at $74.86 on Monday. Moelis & Company has a 1-year low of $46.24 and a 1-year high of $81.60. The business has a 50 day moving average of $74.01 and a 200 day moving average of $67.77. The company has a market capitalization of $5.61 billion, a price-to-earnings ratio of 141.25 and a beta of 1.39.

Moelis & Company (NYSE:MC) last announced its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. The company 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%. The firm’s revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.15) EPS. As a group, sell-side analysts anticipate that Moelis & Company will post 0.96 EPS for the current year.

Moelis & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 4th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.21%. Moelis & Company’s dividend payout ratio (DPR) is currently 452.83%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Wells Fargo & Company boosted their price target on shares of Moelis & Company from $70.00 to $78.00 and gave the company an “equal weight” rating in a research report on Thursday, December 12th. Morgan Stanley raised Moelis & Company from an “underweight” rating to an “overweight” rating and raised their price target for the company from $66.00 to $92.00 in a report on Monday, December 9th. Keefe, Bruyette & Woods raised Moelis & Company from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $71.00 to $86.00 in a report on Friday, December 20th. Finally, UBS Group raised their target price on shares of Moelis & Company from $54.00 to $60.00 and gave the company a “sell” rating in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $70.83.

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.