Diversify Wealth Management LLC Acquires 12,891 Shares of Moelis & Company $MC

Diversify Wealth Management LLC boosted its holdings in shares of Moelis & Company (NYSE:MC) by 16.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 89,189 shares of the asset manager’s stock after acquiring an additional 12,891 shares during the quarter. Diversify Wealth Management LLC’s holdings in Moelis & Company were worth $5,558,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of MC. Cetera Investment Advisers increased its holdings in shares of Moelis & Company by 9.9% in the 1st quarter. Cetera Investment Advisers now owns 6,913 shares of the asset manager’s stock valued at $403,000 after acquiring an additional 623 shares during the period. LPL Financial LLC boosted its position in Moelis & Company by 7.1% during the first quarter. LPL Financial LLC now owns 61,888 shares of the asset manager’s stock valued at $3,612,000 after purchasing an additional 4,114 shares in the last quarter. Vanguard Group Inc. boosted its position in Moelis & Company by 1.9% during the first quarter. Vanguard Group Inc. now owns 8,305,688 shares of the asset manager’s stock valued at $484,720,000 after purchasing an additional 158,373 shares in the last quarter. Deutsche Bank AG grew its stake in Moelis & Company by 14.9% in the first quarter. Deutsche Bank AG now owns 293,408 shares of the asset manager’s stock valued at $17,123,000 after purchasing an additional 37,964 shares during the last quarter. Finally, Citigroup Inc. raised its holdings in Moelis & Company by 28.1% in the first quarter. Citigroup Inc. now owns 127,213 shares of the asset manager’s stock worth $7,424,000 after purchasing an additional 27,895 shares in the last quarter. Institutional investors own 91.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on MC shares. BMO Capital Markets began coverage on shares of Moelis & Company in a research note on Friday, October 3rd. They set a “market perform” rating and a $74.00 price objective for the company. UBS Group assumed coverage on Moelis & Company in a research report on Thursday. They set a “neutral” rating and a $70.00 price target on the stock. Zacks Research cut Moelis & Company from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 8th. Seaport Res Ptn upgraded Moelis & Company from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 30th. Finally, Keefe, Bruyette & Woods decreased their price target on Moelis & Company from $80.00 to $78.00 and set an “outperform” rating for the company in a research note on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $71.38.

Moelis & Company Price Performance

Shares of MC opened at $71.03 on Friday. The company’s fifty day moving average price is $65.72 and its 200-day moving average price is $67.00. Moelis & Company has a 1-year low of $47.00 and a 1-year high of $82.89. The firm has a market capitalization of $5.56 billion, a PE ratio of 23.75, a price-to-earnings-growth ratio of 0.75 and a beta of 1.90.

Moelis & Company (NYSE:MC) last issued its quarterly earnings results on Wednesday, October 29th. The asset manager reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.11. Moelis & Company had a return on equity of 45.62% and a net margin of 15.98%.The company had revenue of $356.89 million during the quarter, compared to analysts’ expectations of $336.14 million. During the same quarter in the previous year, the firm posted $0.22 EPS. The firm’s revenue was up 30.4% compared to the same quarter last year. As a group, research analysts anticipate that Moelis & Company will post 2.97 EPS for the current fiscal year.

Moelis & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Monday, November 10th were paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 3.7%. The ex-dividend date was Monday, November 10th. Moelis & Company’s payout ratio is presently 86.96%.

About Moelis & Company

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.