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.
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%.
COPYRIGHT VIOLATION WARNING: This news story was first posted by WKRB News and is the sole property of of WKRB News. If you are viewing this news story on another domain, it was illegally stolen and reposted in violation of US and international copyright and trademark legislation. The correct version of this news story can be accessed at https://www.wkrb13.com/2018/11/08/xact-kapitalforvaltning-ab-has-375000-position-in-moelis-co-mc.html.
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.
See Also: Why do companies engage in swaps?
Want to see what other hedge funds are holding MC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Moelis & Co (NYSE:MC).
Receive News & Ratings for Moelis & Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Moelis & Co and related companies with MarketBeat.com's FREE daily email newsletter.