JPMorgan Chase & Co. Has $82.63 Million Stock Position in Moelis & Company (NYSE:MC)

JPMorgan Chase & Co. cut its holdings in shares of Moelis & Company (NYSE:MC) by 17.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,206,118 shares of the asset manager’s stock after selling 256,185 shares during the period. JPMorgan Chase & Co.’s holdings in Moelis & Company were worth $82,631,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Reston Wealth Management LLC bought a new stake in Moelis & Company during the 3rd quarter worth approximately $26,000. GAMMA Investing LLC boosted its position in shares of Moelis & Company by 115.8% during the third quarter. GAMMA Investing LLC now owns 995 shares of the asset manager’s stock valued at $68,000 after buying an additional 534 shares during the last quarter. Blue Trust Inc. grew its holdings in Moelis & Company by 193.0% during the third quarter. Blue Trust Inc. now owns 1,081 shares of the asset manager’s stock worth $74,000 after buying an additional 712 shares in the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new stake in Moelis & Company in the 3rd quarter valued at $75,000. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in Moelis & Company by 75.2% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,465 shares of the asset manager’s stock valued at $83,000 after acquiring an additional 629 shares in the last quarter. Institutional investors and hedge funds own 91.53% of the company’s stock.

Wall Street Analyst Weigh In

MC has been the subject of several recent analyst reports. UBS Group upped their target price 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. Morgan Stanley raised shares of Moelis & Company from an “underweight” rating to an “overweight” rating and upped their price objective for the stock from $66.00 to $92.00 in a research report on Monday, December 9th. Wells Fargo & Company lifted their target price on shares of Moelis & Company from $70.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Finally, Keefe, Bruyette & Woods raised Moelis & Company from a “market perform” rating to an “outperform” rating and upped their target price for the company from $71.00 to $86.00 in a report on Friday, December 20th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $70.83.

Moelis & Company Trading Up 0.4 %

Moelis & Company stock opened at $74.20 on Friday. The business’s 50 day simple moving average is $73.83 and its 200 day simple moving average is $67.52. Moelis & Company has a 12 month low of $46.24 and a 12 month high of $81.60. The company has a market cap of $5.56 billion, a price-to-earnings ratio of 140.00 and a beta of 1.37.

Moelis & Company (NYSE:MC) last issued its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. Moelis & Company had a return on equity of 12.15% and a net margin of 4.22%. The firm had revenue of $273.76 million for the quarter, compared to analysts’ expectations of $273.58 million. During the same quarter in the prior year, the firm earned ($0.15) EPS. The business’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, equities research analysts forecast that Moelis & Company will post 0.96 earnings per share for the current fiscal year.

Moelis & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 4th were paid a $0.60 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $2.40 annualized dividend and a dividend yield of 3.23%. Moelis & Company’s payout ratio is 452.83%.

Moelis & 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.