Principal Financial Group Inc. Has $22.84 Million Stock Position in Moelis & Company (NYSE:MC)

Principal Financial Group Inc. cut its holdings in shares of Moelis & Company (NYSE:MC) by 4.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 333,370 shares of the asset manager’s stock after selling 16,322 shares during the quarter. Principal Financial Group Inc. owned 0.45% of Moelis & Company worth $22,839,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of MC. Emerald Advisers LLC boosted its holdings in shares of Moelis & Company by 1.3% during the third quarter. Emerald Advisers LLC now owns 440,330 shares of the asset manager’s stock worth $30,167,000 after purchasing an additional 5,844 shares during the period. Harbor Capital Advisors Inc. lifted its position in Moelis & Company by 15.6% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 20,985 shares of the asset manager’s stock worth $1,438,000 after buying an additional 2,826 shares in the last quarter. Reston Wealth Management LLC acquired a new stake in shares of Moelis & Company during the 3rd quarter valued at $26,000. O ROURKE & COMPANY Inc grew its holdings in shares of Moelis & Company by 4.7% during the 3rd quarter. O ROURKE & COMPANY Inc now owns 6,489 shares of the asset manager’s stock valued at $445,000 after acquiring an additional 294 shares in the last quarter. Finally, US Bancorp DE increased its stake in shares of Moelis & Company by 26.6% in the third quarter. US Bancorp DE now owns 10,722 shares of the asset manager’s stock worth $735,000 after acquiring an additional 2,256 shares during the last quarter. Hedge funds and other institutional investors own 91.53% of the company’s stock.

Moelis & Company Stock Down 2.1 %

NYSE:MC opened at $75.30 on Thursday. The company’s 50 day moving average is $69.04 and its 200-day moving average is $62.50. The firm has a market cap of $5.64 billion, a price-to-earnings ratio of 142.08 and a beta of 1.33. Moelis & Company has a 12 month low of $42.58 and a 12 month high of $81.60.

Moelis & Company (NYSE:MC) last released its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. The company had revenue of $273.76 million during the quarter, compared to analysts’ expectations of $273.58 million. Moelis & Company had a net margin of 4.22% and a return on equity of 12.15%. The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.15) earnings per share. Research analysts predict that Moelis & Company will post 0.97 EPS for the current fiscal year.

Moelis & Company Dividend Announcement

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 $0.60 dividend. The ex-dividend date is Monday, November 4th. This represents a $2.40 annualized dividend and a dividend yield of 3.19%. Moelis & Company’s payout ratio is 452.83%.

Analysts Set New Price Targets

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