JPMorgan Chase & Co. Decreases Stock Holdings in Moelis & Company $MC

JPMorgan Chase & Co. cut its holdings in Moelis & Company (NYSE:MC) by 25.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 945,558 shares of the asset manager’s stock after selling 327,087 shares during the quarter. JPMorgan Chase & Co.’s holdings in Moelis & Company were worth $58,927,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of MC. Ensign Peak Advisors Inc increased its position in shares of Moelis & Company by 75.6% during the second quarter. Ensign Peak Advisors Inc now owns 87,300 shares of the asset manager’s stock valued at $5,441,000 after buying an additional 37,573 shares during the period. Portside Wealth Group LLC lifted its holdings in Moelis & Company by 39.5% in the second quarter. Portside Wealth Group LLC now owns 3,954 shares of the asset manager’s stock worth $246,000 after buying an additional 1,120 shares during the period. Integrated Quantitative Investments LLC boosted its position in Moelis & Company by 21.6% during the 2nd quarter. Integrated Quantitative Investments LLC now owns 17,633 shares of the asset manager’s stock valued at $1,099,000 after acquiring an additional 3,133 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of Moelis & Company by 6.7% during the 2nd quarter. Cetera Investment Advisers now owns 7,378 shares of the asset manager’s stock worth $460,000 after acquiring an additional 465 shares during the period. Finally, Creative Planning grew its holdings in shares of Moelis & Company by 14.2% during the 2nd quarter. Creative Planning now owns 6,639 shares of the asset manager’s stock worth $414,000 after acquiring an additional 827 shares during the period. Institutional investors own 91.53% of the company’s stock.

Moelis & Company Stock Performance

MC stock opened at $64.17 on Friday. The company has a market cap of $5.03 billion, a price-to-earnings ratio of 21.46 and a beta of 1.80. The business’s 50-day moving average is $66.57 and its two-hundred day moving average is $66.54. Moelis & Company has a fifty-two week low of $47.00 and a fifty-two week high of $82.89.

Moelis & Company (NYSE:MC) last released its quarterly earnings results on Wednesday, October 29th. The asset manager reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.11. Moelis & Company had a net margin of 15.98% and a return on equity of 47.11%. The business had revenue of $356.89 million for the quarter, compared to the consensus estimate of $336.14 million. During the same period last year, the firm earned $0.22 earnings per share. The company’s quarterly revenue was up 30.4% on a year-over-year basis. Equities analysts predict that Moelis & Company will post 2.97 earnings per share for the current year.

Moelis & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Stockholders of record on Monday, November 10th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Monday, November 10th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.1%. Moelis & Company’s dividend payout ratio is 86.96%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on MC shares. Keefe, Bruyette & Woods dropped their price target on Moelis & Company from $80.00 to $78.00 and set an “outperform” rating on the stock in a research report on Thursday, October 30th. Deutsche Bank Aktiengesellschaft started coverage on shares of Moelis & Company in a report on Thursday, October 9th. They set a “buy” rating and a $80.00 target price on the stock. Morgan Stanley increased their price target on shares of Moelis & Company from $74.00 to $90.00 and gave the stock an “overweight” rating in a research note on Monday, September 8th. Zacks Research cut shares of Moelis & Company from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 8th. Finally, Seaport Res Ptn upgraded shares of Moelis & Company from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, Moelis & Company currently has a consensus rating of “Hold” and a consensus price target of $71.57.

Moelis & Company Profile

Moelis & Co operates as a holding company. It engages in the provision of financial advisory, capital raising and asset management services to a client base including corporations, governments, sovereign wealth funds and financial sponsors. The firm focuses on clients including large public multinational corporations, middle market private companies, financial sponsors, entrepreneurs and governments.