Diversify Wealth Management LLC Grows Holdings in Moelis & Company (NYSE:MC)

Diversify Wealth Management LLC lifted its position in Moelis & Company (NYSE:MC - Free Report) by 29.4% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 76,298 shares of the asset manager's stock after purchasing an additional 17,322 shares during the period. Diversify Wealth Management LLC owned about 0.10% of Moelis & Company worth $4,067,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. CIBC Private Wealth Group LLC boosted its holdings in shares of Moelis & Company by 52.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 398 shares of the asset manager's stock valued at $30,000 after buying an additional 137 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Moelis & Company during the 4th quarter valued at $31,000. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Moelis & Company by 1,551.3% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 644 shares of the asset manager's stock valued at $38,000 after buying an additional 605 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of Moelis & Company by 1,460.8% during the 1st quarter. Versant Capital Management Inc now owns 796 shares of the asset manager's stock valued at $46,000 after buying an additional 745 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its holdings in shares of Moelis & Company by 148.3% during the 4th quarter. Jones Financial Companies Lllp now owns 822 shares of the asset manager's stock valued at $61,000 after buying an additional 491 shares in the last quarter. Institutional investors own 91.53% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on MC. JMP Securities reaffirmed a "market perform" rating on shares of Moelis & Company in a research report on Thursday, April 24th. JPMorgan Chase & Co. lowered their price target on Moelis & Company from $55.00 to $52.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. The Goldman Sachs Group lifted their price target on Moelis & Company from $56.00 to $63.00 and gave the stock a "neutral" rating in a research report on Thursday, May 15th. Morgan Stanley raised Moelis & Company from an "underweight" rating to an "overweight" rating and lifted their price target for the stock from $42.00 to $68.00 in a research report on Monday, June 23rd. Finally, Wells Fargo & Company boosted their target price on Moelis & Company from $50.00 to $64.00 and gave the stock an "equal weight" rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $66.50.

Moelis & Company Trading Down 1.3%

NYSE:MC traded down $0.95 during mid-day trading on Friday, reaching $69.42. The company's stock had a trading volume of 715,082 shares, compared to its average volume of 809,803. The firm's fifty day moving average price is $59.67 and its two-hundred day moving average price is $63.81. The stock has a market cap of $5.45 billion, a P/E ratio of 31.84 and a beta of 1.64. Moelis & Company has a 12-month low of $47.00 and a 12-month high of $82.89.

Moelis & Company (NYSE:MC - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The asset manager reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.07. The business had revenue of $306.59 million during the quarter, compared to the consensus estimate of $309.67 million. Moelis & Company had a return on equity of 40.89% and a net margin of 13.22%. The business's quarterly revenue was up 41.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.22 EPS. Analysts predict that Moelis & Company will post 2.97 earnings per share for the current fiscal year.

Moelis & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Monday, May 5th were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend was Monday, May 5th. Moelis & Company's dividend payout ratio is 119.27%.

Moelis & Company 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.