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

Moelis & Company (NYSE:MC - Get Free Report) announced a quarterly dividend on Thursday, July 24th, RTT News reports. Shareholders of record on Monday, August 4th will be given a dividend of 0.65 per share by the asset manager on Thursday, September 18th. This represents a $2.60 dividend on an annualized basis and a yield of 3.65%.

Moelis & Company has a 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 tumble. Equities research analysts expect Moelis & Company to earn $3.72 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 69.9%.

Moelis & Company Stock Up 0.3%

Moelis & Company stock traded up $0.23 during midday trading on Thursday, hitting $71.21. 1,422,073 shares of the stock were exchanged, compared to its average volume of 956,508. Moelis & Company has a 52-week low of $47.00 and a 52-week high of $82.89. The stock has a market capitalization of $5.59 billion, a price-to-earnings ratio of 32.67 and a beta of 1.64. The business's 50-day moving average price is $61.93 and its 200-day moving average price is $63.59.

Moelis & Company (NYSE:MC - Get Free Report) last released its earnings results on Thursday, July 24th. The asset manager reported $0.53 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.27. Moelis & Company had a net margin of 13.22% and a return on equity of 40.89%. On average, sell-side analysts predict that Moelis & Company will post 2.97 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MC. Empowered Funds LLC boosted its holdings in shares of Moelis & Company by 37.6% during the 1st quarter. Empowered Funds LLC now owns 42,828 shares of the asset manager's stock valued at $2,499,000 after acquiring an additional 11,692 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Moelis & Company by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,080 shares of the asset manager's stock worth $2,456,000 after buying an additional 1,839 shares during the last quarter. Integrated Wealth Concepts LLC boosted its holdings in shares of Moelis & Company by 9.9% in the first quarter. Integrated Wealth Concepts LLC now owns 4,799 shares of the asset manager's stock worth $280,000 after buying an additional 432 shares during the last quarter. Finally, United Services Automobile Association purchased a new position in shares of Moelis & Company in the first quarter worth approximately $264,000. 91.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wells Fargo & Company upped their target price on shares of Moelis & Company from $50.00 to $64.00 and gave the stock an "equal weight" rating in a report on Friday, July 11th. Keefe, Bruyette & Woods increased their price target on shares of Moelis & Company from $69.00 to $89.00 and gave the stock an "outperform" rating in a report on Monday, July 14th. JPMorgan Chase & Co. decreased their price target on shares of Moelis & Company from $55.00 to $52.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Morgan Stanley raised shares of Moelis & Company from an "underweight" rating to an "overweight" rating and upped their price objective for the company from $42.00 to $68.00 in a research note on Monday, June 23rd. Finally, JMP Securities reissued a "market perform" rating on shares of Moelis & Company in a research report on Thursday, April 24th. One research 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, Moelis & Company has a consensus rating of "Hold" and an average price target of $66.00.

About Moelis & Company

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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