Jennison Associates LLC Sells 142,914 Shares of Moelis & Company $MC

Jennison Associates LLC cut its position in Moelis & Company (NYSE:MC) by 15.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 792,617 shares of the asset manager’s stock after selling 142,914 shares during the quarter. Jennison Associates LLC owned 1.02% of Moelis & Company worth $45,179,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Root Financial Partners LLC increased its stake in Moelis & Company by 292.2% in the first quarter. Root Financial Partners LLC now owns 455 shares of the asset manager’s stock valued at $26,000 after acquiring an additional 339 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in Moelis & Company during the fourth quarter valued at approximately $27,000. Hantz Financial Services Inc. lifted its stake in Moelis & Company by 64.4% during the fourth quarter. Hantz Financial Services Inc. now owns 416 shares of the asset manager’s stock worth $29,000 after purchasing an additional 163 shares during the last quarter. Allworth Financial LP lifted its stake in Moelis & Company by 153.9% during the third quarter. Allworth Financial LP now owns 419 shares of the asset manager’s stock worth $30,000 after purchasing an additional 254 shares during the last quarter. Finally, eCIO Inc. bought a new stake in Moelis & Company during the fourth quarter worth $33,000. Institutional investors own 91.53% of the company’s stock.

Moelis & Company Stock Down 0.6%

Shares of MC stock opened at $67.10 on Tuesday. The firm has a market capitalization of $5.27 billion, a P/E ratio of 24.14, a P/E/G ratio of 0.86 and a beta of 1.85. Moelis & Company has a twelve month low of $51.06 and a twelve month high of $78.22. The stock’s fifty day simple moving average is $66.75 and its 200 day simple moving average is $65.63.

Moelis & Company (NYSE:MC) last posted its earnings results on Wednesday, April 29th. The asset manager reported $0.50 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.09). Moelis & Company had a net margin of 14.46% and a return on equity of 38.94%. The firm had revenue of $319.78 million during the quarter, compared to the consensus estimate of $321.51 million. During the same quarter in the prior year, the business posted $0.64 earnings per share. Moelis & Company’s revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, equities research analysts expect that Moelis & Company will post 3.14 EPS for the current fiscal year.

Moelis & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Monday, May 11th were paid a $0.65 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $2.60 annualized dividend and a dividend yield of 3.9%. Moelis & Company’s dividend payout ratio is currently 93.53%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MC. Weiss Ratings lowered Moelis & Company from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 26th. Keefe, Bruyette & Woods dropped their price objective on Moelis & Company from $69.00 to $66.00 and set a “market perform” rating for the company in a research report on Friday, July 10th. The Goldman Sachs Group reduced their price objective on Moelis & Company from $70.00 to $62.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 1st. Wall Street Zen cut Moelis & Company from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. Finally, Morgan Stanley lowered their target price on Moelis & Company from $90.00 to $83.00 and set an “overweight” rating for the company in a research note on Thursday, April 9th. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Moelis & Company has a consensus rating of “Hold” and a consensus target price of $73.38.

Moelis & Company 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. The company was founded by Kenneth David Moelis, Navid Mahmoodzadegan, Jeffrey Raich and Elizabeth Ann Crain in July 2007 and is headquartered in New York, NY.