Northern Trust Corp Purchases 36,736 Shares of Moelis & Company (NYSE:MC)

Northern Trust Corp lifted its position in shares of Moelis & Company (NYSE:MC - Free Report) by 4.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 860,125 shares of the asset manager's stock after buying an additional 36,736 shares during the quarter. Northern Trust Corp owned approximately 1.15% of Moelis & Company worth $63,546,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. CIBC Private Wealth Group LLC grew its stake in 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 acquiring an additional 137 shares during the period. Arizona State Retirement System lifted its position in Moelis & Company by 0.8% in the fourth quarter. Arizona State Retirement System now owns 20,420 shares of the asset manager's stock valued at $1,509,000 after acquiring an additional 163 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Moelis & Company by 18.1% in the 4th quarter. GAMMA Investing LLC now owns 1,175 shares of the asset manager's stock valued at $87,000 after acquiring an additional 180 shares during the period. Choreo LLC raised its stake in Moelis & Company by 4.0% during the 4th quarter. Choreo LLC now owns 4,831 shares of the asset manager's stock valued at $358,000 after acquiring an additional 187 shares during the last quarter. Finally, Heritage Family Offices LLP boosted its holdings in shares of Moelis & Company by 5.0% in the fourth quarter. Heritage Family Offices LLP now owns 4,464 shares of the asset manager's stock valued at $330,000 after acquiring an additional 213 shares in the last quarter. Institutional investors own 91.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. JMP Securities restated a "market perform" rating on shares of Moelis & Company in a research report on Thursday, April 24th. Morgan Stanley dropped their price target on shares of Moelis & Company from $70.00 to $42.00 and set an "underweight" rating for the company in a research note on Monday, April 7th. JPMorgan Chase & Co. lowered their target price on shares of Moelis & Company from $55.00 to $52.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Wells Fargo & Company cut their price target on Moelis & Company from $55.00 to $50.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. Finally, Keefe, Bruyette & Woods restated an "outperform" rating and issued a $92.00 price target (up previously from $86.00) on shares of Moelis & Company in a research note on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $61.83.

Insider Buying and Selling

In related news, CEO Kenneth Moelis sold 9,712 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $74.00, for a total transaction of $718,688.00. Following the completion of the transaction, the chief executive officer now owns 209,235 shares in the company, valued at approximately $15,483,390. This represents a 4.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Christopher Callesano sold 1,282 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $74.00, for a total transaction of $94,868.00. Following the transaction, the insider now owns 1,227 shares of the company's stock, valued at approximately $90,798. This represents a 51.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,721 shares of company stock worth $1,677,017 over the last three months. 6.40% of the stock is currently owned by company insiders.

Moelis & Company Price Performance

Shares of MC stock traded up $4.15 on Monday, hitting $59.11. The company's stock had a trading volume of 328,018 shares, compared to its average volume of 750,975. Moelis & Company has a fifty-two week low of $47.00 and a fifty-two week high of $82.89. The firm's fifty day moving average price is $55.68 and its 200-day moving average price is $67.89. The stock has a market capitalization of $4.64 billion, a price-to-earnings ratio of 33.34 and a beta of 1.66.

Moelis & Company (NYSE:MC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The asset manager reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.07. The company had revenue of $306.59 million for 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 quarterly revenue was up 41.0% on a year-over-year basis. During the same period last year, the business posted $0.22 EPS. Analysts predict that Moelis & Company will post 2.97 EPS for the current fiscal year.

Moelis & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Monday, May 5th will be given a $0.65 dividend. The ex-dividend date is Monday, May 5th. This represents a $2.60 dividend on an annualized basis and a yield of 4.40%. Moelis & Company's 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.