PNC Financial Services Group Inc. Has $448,000 Stock Holdings in Moelis & Company (NYSE:MC)

Key Points

• PNC Financial Services Group Inc. reduced its holdings in Moelis & Company by 46.1% in the first quarter, resulting in ownership of 7,673 shares valued at approximately $448,000.
• Moelis & Company recently announced a quarterly dividend of $0.65 per share, with a payout ratio currently at 102.36%.
• Analysts have varied opinions on Moelis & Company, with target prices ranging from $52.00 to $89.00 and a consensus rating of "Hold."

PNC Financial Services Group Inc. lessened its holdings in shares of Moelis & Company (NYSE:MC - Free Report) by 46.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 7,673 shares of the asset manager's stock after selling 6,571 shares during the period. PNC Financial Services Group Inc.'s holdings in Moelis & Company were worth $448,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. US Bancorp DE grew its holdings in Moelis & Company by 3.9% during the 1st quarter. US Bancorp DE now owns 10,847 shares of the asset manager's stock worth $633,000 after acquiring an additional 410 shares during the period. Natixis Advisors LLC grew its holdings in shares of Moelis & Company by 3.5% in the 1st quarter. Natixis Advisors LLC now owns 615,169 shares of the asset manager's stock valued at $35,901,000 after buying an additional 20,702 shares during the period. Bayforest Capital Ltd grew its holdings in shares of Moelis & Company by 3,395.4% in the 1st quarter. Bayforest Capital Ltd now owns 29,851 shares of the asset manager's stock valued at $1,742,000 after buying an additional 28,997 shares during the period. Vestcor Inc acquired a new position in shares of Moelis & Company in the 1st quarter valued at $292,000. Finally, XTX Topco Ltd lifted its position in Moelis & Company by 241.1% in the 1st quarter. XTX Topco Ltd now owns 13,078 shares of the asset manager's stock valued at $763,000 after acquiring an additional 9,244 shares in the last quarter. Institutional investors and hedge funds own 91.53% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on MC shares. JMP Securities reaffirmed a "market perform" rating on shares of Moelis & Company in a research report on Thursday, April 24th. JPMorgan Chase & Co. cut their price target on shares of Moelis & Company from $55.00 to $52.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. The Goldman Sachs Group upped their target price on shares of Moelis & Company from $56.00 to $63.00 and gave the company a "neutral" rating in a report on Thursday, May 15th. Morgan Stanley upgraded shares of Moelis & Company from an "underweight" rating to an "overweight" rating and upped their price target for the company from $42.00 to $68.00 in a research note on Monday, June 23rd. Finally, Keefe, Bruyette & Woods increased their target price on shares of Moelis & Company from $69.00 to $89.00 and gave the stock an "outperform" rating in a research report on Monday, July 14th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $66.00.

Insider Activity

In other news, General Counsel Osamu R. Watanabe sold 6,340 shares of the stock in a transaction on Friday, July 25th. The shares were sold at an average price of $72.64, for a total transaction of $460,537.60. Following the completion of the sale, the general counsel directly owned 131 shares in the company, valued at $9,515.84. This represents a 97.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 6.40% of the company's stock.

Moelis & Company Trading Down 0.8%

Shares of Moelis & Company stock opened at $74.45 on Friday. The company has a 50 day moving average of $66.08 and a 200-day moving average of $63.09. Moelis & Company has a 1-year low of $47.00 and a 1-year high of $82.89. The company has a market cap of $5.84 billion, a PE ratio of 29.31 and a beta of 1.70.

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

Moelis & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Monday, August 4th will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, August 4th. This represents a $2.60 annualized dividend and a dividend yield of 3.5%. Moelis & Company's dividend payout ratio (DPR) is presently 102.36%.

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.

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