Moelis & Company (NYSE:MC) Plans Quarterly Dividend of $0.65

Key Points

• Moelis & Company declared a quarterly dividend of $0.65 per share, payable December 17 to shareholders of record November 16. That equals $2.60 annually and a 4.4% yield.
• The dividend is currently covered by earnings, though the payout ratio is 92.5%; analysts’ forecast earnings imply it could fall to 64.0% next year.
• Quarterly earnings were $0.75 per share, beating estimates of $0.72, while revenue of $425.58 million missed expectations despite rising 19.2% year over year.

Moelis & Company (NYSE:MC - Get Free Report) announced a quarterly dividend on Wednesday, November 4th. Investors of record on Monday, November 16th will be paid a dividend of $0.65 per share by the asset manager on Thursday, December 17th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend is Monday, November 16th.

Moelis & Company has decreased its dividend payment by an average of 0.1% per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Moelis & Company has a dividend payout ratio of 92.5% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings fall. Research analysts expect Moelis & Company to earn $4.06 per share next year, which means the company should continue to be able to cover its $2.60 annual dividend with an expected future payout ratio of 64.0%.

Moelis & Company Trading Down 4.8%

Shares of MC stock opened at $58.43 on Friday. The stock has a market capitalization of $4.57 billion, a P/E ratio of 20.87, a PEG ratio of 2.58 and a beta of 1.87. The firm's 50 day moving average is $59.59 and its 200 day moving average is $63.77. Moelis & Company has a 12 month low of $51.06 and a 12 month high of $78.22.

Moelis & Company (NYSE:MC - Get Free Report) last released its quarterly earnings data on Thursday, November 5th. The asset manager reported $0.75 EPS for the quarter, topping the consensus estimate of $0.72 by $0.03. Moelis & Company had a net margin of 14.50% and a return on equity of 39.59%. The company had revenue of $425.58 million during the quarter, compared to the consensus estimate of $434.17 million. During the same period last year, the firm earned $0.68 EPS. Moelis & Company's revenue for the quarter was up 19.2% on a year-over-year basis. On average, equities analysts predict that Moelis & Company will post 3.01 EPS for the current year.

Insiders Place Their Bets

In other Moelis & Company news, Director Kenneth Shropshire sold 1,881 shares of the stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $69.06, for a total value of $129,901.86. Following the sale, the director directly owned 7,633 shares in the company, valued at $527,134.98. This represents a 19.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 6.29% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MC. Maryland State Retirement & Pension System boosted its stake in shares of Moelis & Company by 53.1% in the 3rd quarter. Maryland State Retirement & Pension System now owns 16,566 shares of the asset manager's stock valued at $953,000 after purchasing an additional 5,749 shares in the last quarter. Illinois Municipal Retirement Fund grew its holdings in Moelis & Company by 1.1% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 39,701 shares of the asset manager's stock worth $2,284,000 after acquiring an additional 437 shares during the last quarter. Keybank National Association OH grew its stake in shares of Moelis & Company by 10.9% in the third quarter. Keybank National Association OH now owns 7,155 shares of the asset manager's stock worth $412,000 after purchasing an additional 705 shares during the last quarter. Gen Wealth Partners Inc purchased a new stake in Moelis & Company in the 3rd quarter worth approximately $31,000. Finally, StoneX Group Inc. bought a new stake in shares of Moelis & Company in the 3rd quarter worth approximately $226,000. Institutional investors own 91.53% of the company's stock.

Moelis & Company Company Profile

Moelis & Company NYSE: MC is an independent global investment bank that provides strategic and financial advisory services to corporations, financial sponsors, governments and other institutions. Its advisory platform focuses on mergers and acquisitions, recapitalizations, restructurings, capital raising and other complex corporate finance matters.

The firm advises clients across a range of industries, including technology, media and telecommunications; financial services; consumer and retail; energy and infrastructure; healthcare; and industrials.

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