Allianz Asset Management GmbH Sells 4,999 Shares of Moelis & Company (NYSE:MC)

Allianz Asset Management GmbH lessened its stake in shares of Moelis & Company (NYSE:MC - Free Report) by 12.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 34,349 shares of the asset manager's stock after selling 4,999 shares during the period. Allianz Asset Management GmbH's holdings in Moelis & Company were worth $2,005,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of MC. CIBC Private Wealth Group LLC grew its stake in shares of Moelis & Company by 52.5% in 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 in the 4th quarter valued at approximately $31,000. MassMutual Private Wealth & Trust FSB grew its stake in shares of Moelis & Company by 1,551.3% in 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 grew its stake in shares of Moelis & Company by 1,460.8% in 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, NBC Securities Inc. bought a new stake in shares of Moelis & Company in the 1st quarter valued at approximately $59,000. Institutional investors and hedge funds own 91.53% of the company's stock.

Moelis & Company Price Performance

Shares of NYSE MC traded down $1.67 during trading hours on Friday, reaching $68.47. The stock had a trading volume of 1,087,355 shares, compared to its average volume of 873,789. The business's fifty day moving average is $63.52 and its two-hundred day moving average is $63.45. The company has a market cap of $5.38 billion, a price-to-earnings ratio of 26.96 and a beta of 1.64. Moelis & Company has a twelve month low of $47.00 and a twelve month high of $82.89.

Moelis & Company (NYSE:MC - Get Free Report) last issued its earnings results on Thursday, July 24th. The asset manager reported $0.53 EPS for the quarter, beating analysts' consensus estimates of $0.32 by $0.21. Moelis & Company had a return on equity of 42.72% and a net margin of 14.31%. The business had revenue of $365.38 million during the quarter, compared to analyst estimates of $269.57 million. During the same period in the prior year, the company posted $0.18 earnings per share. Moelis & Company's revenue was up 38.1% on a year-over-year basis. Sell-side analysts forecast that Moelis & Company will post 2.97 earnings per share for the current fiscal year.

Moelis & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Monday, August 4th will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Monday, August 4th. Moelis & Company's dividend payout ratio is presently 102.36%.

Analyst Ratings Changes

MC has been the subject of a number of recent analyst reports. Wells Fargo & Company upped 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, July 11th. Morgan Stanley raised Moelis & Company from an "underweight" rating to an "overweight" rating and upped their target price for the stock from $42.00 to $68.00 in a research report on Monday, June 23rd. JPMorgan Chase & Co. decreased their target price 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. JMP Securities reaffirmed a "market perform" rating on shares of Moelis & Company in a research report on Thursday, April 24th. Finally, The Goldman Sachs Group upped their price target on Moelis & Company from $56.00 to $63.00 and gave the stock a "neutral" rating in a report on Thursday, May 15th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $66.00.

Insider Activity at Moelis & Company

In other news, General Counsel Osamu R. Watanabe sold 6,340 shares of the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $72.64, for a total transaction of $460,537.60. Following the sale, the general counsel owned 131 shares in the company, valued at approximately $9,515.84. This represents a 97.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 6.40% of the company's stock.

Moelis & 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.