Jennison Associates LLC Has $41.84 Million Stake in Moelis & Company $MC

Jennison Associates LLC boosted its holdings in Moelis & Company (NYSE:MC) by 38.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 671,431 shares of the asset manager’s stock after buying an additional 186,193 shares during the period. Jennison Associates LLC owned approximately 0.86% of Moelis & Company worth $41,844,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its stake in shares of Moelis & Company by 214.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,942,299 shares of the asset manager’s stock valued at $171,713,000 after purchasing an additional 2,006,747 shares during the period. Goldman Sachs Group Inc. lifted its stake in Moelis & Company by 32.6% in the first quarter. Goldman Sachs Group Inc. now owns 2,356,893 shares of the asset manager’s stock valued at $137,548,000 after buying an additional 579,529 shares during the period. Millennium Management LLC lifted its stake in Moelis & Company by 311.4% in the first quarter. Millennium Management LLC now owns 465,677 shares of the asset manager’s stock valued at $27,177,000 after buying an additional 352,490 shares during the period. Nuveen LLC bought a new position in Moelis & Company during the first quarter worth about $19,561,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Moelis & Company during the 1st quarter worth about $10,670,000. Institutional investors and hedge funds own 91.53% of the company’s stock.

Moelis & Company Stock Performance

NYSE MC opened at $64.26 on Friday. The stock has a market capitalization of $5.04 billion, a price-to-earnings ratio of 21.49 and a beta of 1.77. The stock’s 50 day moving average price is $70.86 and its two-hundred day moving average price is $65.05. Moelis & Company has a 52 week low of $47.00 and a 52 week high of $82.89.

Moelis & Company (NYSE:MC) last released its earnings results on Wednesday, October 29th. The asset manager reported $0.68 EPS for the quarter, beating the consensus estimate of $0.57 by $0.11. The firm had revenue of $356.89 million for the quarter, compared to analysts’ expectations of $336.14 million. Moelis & Company had a return on equity of 47.11% and a net margin of 15.98%.The business’s quarterly revenue was up 30.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.22 EPS. On average, equities research analysts forecast that Moelis & Company will post 2.97 EPS for the current year.

Moelis & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Monday, November 10th will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 4.0%. The ex-dividend date is Monday, November 10th. Moelis & Company’s payout ratio is presently 102.36%.

Insider Transactions at Moelis & Company

In other Moelis & Company news, Director Kenneth Shropshire sold 2,615 shares of Moelis & Company stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $72.52, for a total value of $189,639.80. Following the sale, the director directly owned 7,109 shares in the company, valued at approximately $515,544.68. The trade was a 26.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 6.40% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MC. Wells Fargo & Company increased their price target on shares of Moelis & Company from $50.00 to $64.00 and gave the company an “equal weight” rating in a research report on Friday, July 11th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Moelis & Company in a report on Thursday, October 9th. They set a “buy” rating and a $80.00 price objective for the company. Morgan Stanley lifted their price target on shares of Moelis & Company from $74.00 to $90.00 and gave the stock an “overweight” rating in a research report on Monday, September 8th. BMO Capital Markets assumed coverage on shares of Moelis & Company in a research report on Friday, October 3rd. They set a “market perform” rating and a $74.00 price target on the stock. Finally, Zacks Research cut shares of Moelis & Company from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $71.57.

Moelis & 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.