State of New Jersey Common Pension Fund D Sells 4,102 Shares of Moelis & Company (NYSE:MC)

State of New Jersey Common Pension Fund D lowered its position in Moelis & Company (NYSE:MC) by 12.3% during the 3rd quarter, Holdings Channel reports. The firm owned 29,349 shares of the asset manager’s stock after selling 4,102 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Moelis & Company were worth $2,011,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Reston Wealth Management LLC bought a new position in shares of Moelis & Company during the 3rd quarter worth $26,000. UMB Bank n.a. grew its holdings in Moelis & Company by 63.5% during the 2nd quarter. UMB Bank n.a. now owns 497 shares of the asset manager’s stock worth $28,000 after acquiring an additional 193 shares in the last quarter. GAMMA Investing LLC increased its position in Moelis & Company by 115.8% during the 3rd 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. raised its holdings in shares of Moelis & Company by 193.0% in 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. purchased a new stake in shares of Moelis & Company in the 3rd quarter worth approximately $75,000. 91.53% of the stock is currently owned by hedge funds and other institutional investors.

Moelis & Company Stock Performance

Moelis & Company stock opened at $74.69 on Friday. The stock has a market cap of $5.60 billion, a PE ratio of 140.92 and a beta of 1.33. The stock has a 50-day moving average of $69.49 and a two-hundred day moving average of $62.86. Moelis & Company has a one year low of $44.06 and a one year high of $81.60.

Moelis & Company (NYSE:MC) last announced its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $0.22 EPS for the quarter, beating the consensus estimate of $0.20 by $0.02. The firm had revenue of $273.76 million during the quarter, compared to analyst estimates of $273.58 million. Moelis & Company had a net margin of 4.22% and a return on equity of 12.15%. Moelis & Company’s revenue was up .6% on a year-over-year basis. During the same period last year, the firm posted ($0.15) EPS. As a group, sell-side analysts predict that Moelis & Company will post 0.96 EPS for the current fiscal year.

Moelis & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders 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 dividend yield of 3.21%. Moelis & Company’s payout ratio is currently 452.83%.

Analysts Set New Price Targets

Several brokerages recently issued reports on MC. UBS Group lifted their price objective on shares of Moelis & Company from $54.00 to $60.00 and gave the company a “sell” rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $60.00 price target (up from $54.00) on shares of Moelis & Company in a research report on Thursday, July 25th. Morgan Stanley dropped their price objective on Moelis & Company from $67.00 to $66.00 and set an “underweight” rating on the stock in a research report on Thursday, October 24th. JPMorgan Chase & Co. boosted their target price on shares of Moelis & Company from $50.00 to $51.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Finally, Wells Fargo & Company initiated coverage on shares of Moelis & Company in a research report on Thursday, September 12th. They set an “equal weight” rating and a $70.00 price target for the company. Two equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average 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.