Moelis & Company (NYSE:MC) Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lifted its holdings in shares of Moelis & Company (NYSE:MC) by 4.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,222 shares of the asset manager’s stock after acquiring an additional 730 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Moelis & Company were worth $1,248,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in MC. Reston Wealth Management LLC purchased a new position in Moelis & Company in the 3rd quarter worth approximately $26,000. UMB Bank n.a. lifted its position in shares of Moelis & Company by 63.5% during the second quarter. UMB Bank n.a. now owns 497 shares of the asset manager’s stock worth $28,000 after purchasing an additional 193 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Moelis & Company by 115.8% in the third quarter. GAMMA Investing LLC now owns 995 shares of the asset manager’s stock valued at $68,000 after purchasing an additional 534 shares during the period. Blue Trust Inc. grew its holdings in Moelis & Company by 193.0% during the 3rd quarter. Blue Trust Inc. now owns 1,081 shares of the asset manager’s stock valued at $74,000 after purchasing an additional 712 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in Moelis & Company during the 3rd quarter valued at $75,000. Institutional investors and hedge funds own 91.53% of the company’s stock.

Moelis & Company Stock Performance

Shares of MC stock opened at $75.85 on Thursday. The stock has a market capitalization of $5.68 billion, a price-to-earnings ratio of 145.06 and a beta of 1.33. Moelis & Company has a one year low of $45.45 and a one year high of $81.60. The company’s 50-day simple moving average is $70.80 and its 200-day simple moving average is $64.05.

Moelis & Company (NYSE:MC) last released its earnings results on Wednesday, October 23rd. The asset manager reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. Moelis & Company had a return on equity of 12.15% and a net margin of 4.22%. The company had revenue of $273.76 million for the quarter, compared to the consensus estimate of $273.58 million. During the same quarter last year, the business posted ($0.15) EPS. Moelis & Company’s quarterly revenue was up .6% compared to the same quarter last year. As a group, research analysts forecast that Moelis & Company will post 0.96 EPS for the current year.

Moelis & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 4th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $2.40 annualized dividend and a yield of 3.16%. Moelis & Company’s payout ratio is 452.83%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Morgan Stanley cut their price objective on shares of Moelis & Company from $67.00 to $66.00 and set an “underweight” rating on the stock in a report on Thursday, October 24th. UBS Group boosted their price target on Moelis & Company from $54.00 to $60.00 and gave the stock a “sell” rating in a research note on Tuesday, October 8th. Finally, Wells Fargo & Company assumed coverage on Moelis & Company in a research note on Thursday, September 12th. They set an “equal weight” rating and a $70.00 price objective for the company. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $60.83.

Moelis & Company Company Profile

Moelis & Company operates as an investment banking advisory firm. It offers advisory services in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets transactions, and other corporate finance matters, as well as strategic, capital structure, and private funds advisory.