Moelis & Company (NYSE:MC) Plans Quarterly Dividend of $0.60

Moelis & Company (NYSE:MC) announced a quarterly dividend on Wednesday, April 24th, Zacks reports. Shareholders of record on Monday, May 6th will be paid a dividend of 0.60 per share by the asset manager on Thursday, June 20th. This represents a $2.40 annualized dividend and a yield of 4.89%. The ex-dividend date is Friday, May 3rd.

Moelis & Company has raised its dividend by an average of 19.6% annually over the last three years. Moelis & Company has a payout ratio of 95.6% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Moelis & Company to earn $2.75 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 87.3%.

Moelis & Company Trading Down 1.9 %

Moelis & Company stock opened at $49.08 on Wednesday. Moelis & Company has a twelve month low of $33.87 and a twelve month high of $58.67. The company has a 50 day moving average of $53.83 and a 200-day moving average of $51.72.

Moelis & Company (NYSE:MC) last posted its quarterly earnings data on Wednesday, April 24th. The asset manager reported $0.22 EPS for the quarter, beating the consensus estimate of $0.11 by $0.11. The business had revenue of $217.49 million for the quarter, compared to analysts’ expectations of $219.30 million. Moelis & Company had a negative net margin of 1.33% and a negative return on equity of 0.12%. The firm’s revenue was up 17.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.05 EPS. As a group, analysts anticipate that Moelis & Company will post 1.29 EPS for the current fiscal year.

Insider Buying and Selling at Moelis & Company

In related news, Vice Chairman Eric Cantor sold 17,857 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $52.60, for a total value of $939,278.20. Following the transaction, the insider now owns 195,863 shares in the company, valued at approximately $10,302,393.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Moelis & Company news, insider Christopher Callesano sold 1,040 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $53.59, for a total value of $55,733.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Vice Chairman Eric Cantor sold 17,857 shares of Moelis & Company stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $52.60, for a total value of $939,278.20. Following the sale, the insider now directly owns 195,863 shares of the company’s stock, valued at approximately $10,302,393.80. The disclosure for this sale can be found here. Insiders have sold a total of 375,185 shares of company stock worth $20,130,225 over the last ninety days. Insiders own 6.96% of the company’s stock.

Analyst Ratings Changes

MC has been the topic of a number of recent research reports. StockNews.com raised Moelis & Company from a “sell” rating to a “hold” rating in a research report on Thursday, February 8th. JPMorgan Chase & Co. boosted their price objective on shares of Moelis & Company from $46.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, February 8th. The Goldman Sachs Group raised shares of Moelis & Company from a “sell” rating to a “neutral” rating and raised their target price for the company from $53.00 to $58.00 in a research report on Wednesday, March 13th. JMP Securities reissued a “market perform” rating on shares of Moelis & Company in a research report on Tuesday, April 9th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $54.00 target price (down previously from $58.00) on shares of Moelis & Company in a research report on Thursday, April 25th. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat.com, Moelis & Company has an average rating of “Hold” and a consensus price target of $50.80.

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.