Trust Point Inc. Sells 6,282 Shares of Moelis & Company (NYSE:MC)

Trust Point Inc. lowered its stake in shares of Moelis & Company (NYSE:MC - Free Report) by 35.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,519 shares of the asset manager's stock after selling 6,282 shares during the period. Trust Point Inc.'s holdings in Moelis & Company were worth $672,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Moelis & Company by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 8,147,315 shares of the asset manager's stock worth $601,924,000 after purchasing an additional 99,766 shares during the last quarter. Madison Investment Advisors LLC bought a new stake in Moelis & Company in the fourth quarter worth $86,062,000. Charles Schwab Investment Management Inc. increased its position in Moelis & Company by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 935,552 shares of the asset manager's stock worth $69,119,000 after purchasing an additional 12,632 shares during the last quarter. Northern Trust Corp increased its position in Moelis & Company by 4.5% in the fourth quarter. Northern Trust Corp now owns 860,125 shares of the asset manager's stock worth $63,546,000 after purchasing an additional 36,736 shares during the last quarter. Finally, Balyasny Asset Management L.P. increased its position in Moelis & Company by 215.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 723,384 shares of the asset manager's stock worth $53,444,000 after purchasing an additional 494,123 shares during the last quarter. Institutional investors own 91.53% of the company's stock.

Moelis & Company Trading Up 1.1%

Shares of MC opened at $56.62 on Tuesday. The firm has a market capitalization of $4.45 billion, a P/E ratio of 32.17 and a beta of 1.64. Moelis & Company has a 12-month low of $47.00 and a 12-month high of $82.89. The firm has a fifty day moving average price of $55.60 and a 200-day moving average price of $65.18.

Moelis & Company (NYSE:MC - Get Free Report) last issued its 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 firm had revenue of $306.59 million during the quarter, compared to analyst estimates of $309.67 million. Moelis & Company had a net margin of 11.39% and a return on equity of 38.49%. The business's revenue was up 41.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.22 earnings per share. Analysts predict that Moelis & Company will post 2.97 earnings per share for the current year.

Moelis & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Monday, May 5th will be issued a $0.65 dividend. The ex-dividend date of this dividend is Monday, May 5th. This represents a $2.60 annualized dividend and a dividend yield of 4.59%. Moelis & Company's payout ratio is currently 119.27%.

Analysts Set New Price Targets

Several brokerages recently weighed in on MC. JPMorgan Chase & Co. reduced 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. Wall Street Zen lowered shares of Moelis & Company from a "buy" rating to a "hold" rating in a research note on Thursday, March 13th. The Goldman Sachs Group lifted their price objective on shares of Moelis & Company from $56.00 to $63.00 and gave the stock a "neutral" rating in a research note on Thursday, May 15th. JMP Securities reaffirmed a "market perform" rating on shares of Moelis & Company in a research note on Thursday, April 24th. Finally, Wells Fargo & Company dropped their price objective on shares of Moelis & Company from $55.00 to $50.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, Moelis & Company presently has a consensus rating of "Hold" and a consensus price target of $59.83.

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.

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