AGF Investments Inc. Has $25.42 Million Holdings in Moelis & Co (MC)
AGF Investments Inc. decreased its stake in Moelis & Co (NYSE:MC) by 20.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 524,067 shares of the asset manager’s stock after selling 138,136 shares during the quarter. AGF Investments Inc.’s holdings in Moelis & Co were worth $25,417,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. American Century Companies Inc. grew its position in shares of Moelis & Co by 636.3% during the third quarter. American Century Companies Inc. now owns 564,299 shares of the asset manager’s stock worth $24,293,000 after purchasing an additional 487,660 shares in the last quarter. Pier Capital LLC purchased a new stake in shares of Moelis & Co during the third quarter worth about $7,145,000. BlackRock Inc. grew its position in shares of Moelis & Co by 6.4% during the second quarter. BlackRock Inc. now owns 2,379,872 shares of the asset manager’s stock worth $92,458,000 after purchasing an additional 142,321 shares in the last quarter. APG Asset Management N.V. purchased a new stake in shares of Moelis & Co during the fourth quarter worth about $5,618,000. Finally, Citadel Advisors LLC grew its position in shares of Moelis & Co by 334.8% during the third quarter. Citadel Advisors LLC now owns 168,525 shares of the asset manager’s stock worth $7,256,000 after purchasing an additional 129,764 shares in the last quarter. Institutional investors and hedge funds own 56.12% of the company’s stock.
Several analysts recently issued reports on the company. Bank of America increased their target price on Moelis & Co from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, February 8th. JMP Securities increased their target price on Moelis & Co from $44.00 to $47.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 26th. Morgan Stanley increased their target price on Moelis & Co from $45.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, October 26th. Zacks Investment Research cut Moelis & Co from a “buy” rating to a “hold” rating in a research report on Wednesday, November 1st. Finally, UBS Group increased their price target on Moelis & Co from $42.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, October 26th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $50.67.
Moelis & Co (NYSE:MC) last announced its quarterly earnings results on Wednesday, February 7th. The asset manager reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.10. Moelis & Co had a return on equity of 48.98% and a net margin of 4.29%. The company had revenue of $169.17 million during the quarter, compared to analyst estimates of $160.22 million. During the same period in the prior year, the company earned $0.66 earnings per share. The firm’s revenue was down 17.3% on a year-over-year basis. equities analysts anticipate that Moelis & Co will post 2.75 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 7th. Investors of record on Tuesday, February 20th will be paid a dividend of $0.47 per share. The ex-dividend date is Friday, February 16th. This is a positive change from Moelis & Co’s previous quarterly dividend of $0.37. This represents a $1.88 dividend on an annualized basis and a yield of 3.56%. Moelis & Co’s dividend payout ratio is presently 185.00%.
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Moelis & Co Profile
Moelis & Company is an investment banking advisory company. The Company provides strategic and financial advice to a client base, including corporations, governments and financial sponsors. The Company offers financial advisory services across various industry sectors. It advices its clients on decisions, including mergers and acquisitions (M&A), recapitalizations and restructurings, and other corporate finance matters.
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