Xact Kapitalforvaltning AB Has $375,000 Position in Moelis & Co (MC)

Xact Kapitalforvaltning AB boosted its holdings in Moelis & Co (NYSE:MC) by 25.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,851 shares of the asset manager’s stock after acquiring an additional 1,400 shares during the quarter. Xact Kapitalforvaltning AB’s holdings in Moelis & Co were worth $375,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. California Public Employees Retirement System raised its stake in Moelis & Co by 11.9% in the 1st quarter. California Public Employees Retirement System now owns 21,700 shares of the asset manager’s stock valued at $1,103,000 after purchasing an additional 2,312 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Moelis & Co in the 1st quarter worth $463,000. Legal & General Group Plc increased its stake in shares of Moelis & Co by 61.3% in the 1st quarter. Legal & General Group Plc now owns 12,707 shares of the asset manager’s stock worth $647,000 after acquiring an additional 4,830 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Moelis & Co by 4.2% in the 1st quarter. Royal Bank of Canada now owns 123,614 shares of the asset manager’s stock worth $6,285,000 after acquiring an additional 4,944 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its stake in shares of Moelis & Co by 11.3% in the 1st quarter. Allianz Asset Management GmbH now owns 37,092 shares of the asset manager’s stock worth $1,886,000 after acquiring an additional 3,752 shares during the last quarter. Hedge funds and other institutional investors own 68.97% of the company’s stock.

In related news, Director Kenneth Shropshire sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $57.85, for a total transaction of $86,775.00. Following the completion of the sale, the director now directly owns 4,968 shares of the company’s stock, valued at approximately $287,398.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 29.91% of the stock is currently owned by company insiders.

A number of brokerages have issued reports on MC. ValuEngine downgraded Moelis & Co from a “hold” rating to a “sell” rating in a research note on Tuesday, October 23rd. Zacks Investment Research raised Moelis & Co from a “sell” rating to a “hold” rating in a research note on Thursday, July 19th. Bank of America raised their target price on Moelis & Co from $65.00 to $68.00 and gave the stock a “buy” rating in a research note on Tuesday, July 24th. UBS Group cut their target price on Moelis & Co from $59.00 to $54.00 and set a “neutral” rating for the company in a research note on Tuesday, October 23rd. Finally, Goldman Sachs Group began coverage on Moelis & Co in a research note on Tuesday. They issued a “buy” rating and a $53.00 target price for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. Moelis & Co has an average rating of “Hold” and a consensus target price of $60.14.

Shares of MC opened at $43.19 on Thursday. Moelis & Co has a 52-week low of $39.23 and a 52-week high of $67.65. The firm has a market capitalization of $2.44 billion, a price-to-earnings ratio of 18.86, a P/E/G ratio of 1.11 and a beta of 1.92.

Moelis & Co (NYSE:MC) last issued its earnings results on Monday, October 22nd. The asset manager reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.01). Moelis & Co had a return on equity of 53.14% and a net margin of 9.39%. The company had revenue of $207.70 million during the quarter, compared to analyst estimates of $215.19 million. During the same period last year, the business earned $0.57 earnings per share. The firm’s revenue was up 22.2% compared to the same quarter last year. Sell-side analysts anticipate that Moelis & Co will post 2.83 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 14th. Investors of record on Thursday, November 1st will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date of this dividend is Wednesday, October 31st. Moelis & Co’s payout ratio is 82.10%.

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About Moelis & Co

Moelis & Company is a global investment bank. The firm provides services relating to mergers & acquisitions, recapitalization & restructuring, capital markets and financial institution advisory; private funds; shareholder defense and strategic alliances. The firm's expertise is into global energy; IPO advisory; technology, media, telecommunication sectors.

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Institutional Ownership by Quarter for Moelis & Co (NYSE:MC)

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