KLP Kapitalforvaltning AS Takes Position in Moelis & Company (NYSE:MC)

KLP Kapitalforvaltning AS acquired a new stake in Moelis & Company (NYSE:MC) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,700 shares of the asset manager’s stock, valued at approximately $1,086,000.

Several other hedge funds also recently added to or reduced their stakes in the business. R Squared Ltd purchased a new position in shares of Moelis & Company during the 4th quarter worth $47,000. Jones Financial Companies Lllp boosted its stake in Moelis & Company by 148.3% during the fourth quarter. Jones Financial Companies Lllp now owns 822 shares of the asset manager’s stock worth $61,000 after buying an additional 491 shares during the period. AlphaQuest LLC acquired a new stake in shares of Moelis & Company during the fourth quarter valued at about $61,000. Smartleaf Asset Management LLC raised its stake in shares of Moelis & Company by 368.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,016 shares of the asset manager’s stock valued at $75,000 after acquiring an additional 799 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Moelis & Company by 18.1% in the 4th quarter. GAMMA Investing LLC now owns 1,175 shares of the asset manager’s stock worth $87,000 after acquiring an additional 180 shares during the last quarter. 91.53% of the stock is currently owned by hedge funds and other institutional investors.

Moelis & Company Stock Down 3.0 %

Shares of Moelis & Company stock opened at $57.88 on Monday. Moelis & Company has a 52-week low of $46.24 and a 52-week high of $82.89. The company has a market capitalization of $4.34 billion, a P/E ratio of 32.89 and a beta of 1.43. The company has a 50 day moving average of $70.16 and a 200 day moving average of $71.48.

Moelis & Company (NYSE:MC) last released its quarterly earnings data on Wednesday, February 5th. The asset manager reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.79. Moelis & Company had a net margin of 11.39% and a return on equity of 38.49%. As a group, research analysts anticipate that Moelis & Company will post 2.97 earnings per share for the current fiscal year.

Moelis & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, February 18th were issued a $0.65 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.49%. This is an increase from Moelis & Company’s previous quarterly dividend of $0.60. Moelis & Company’s dividend payout ratio is presently 147.73%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on MC shares. The Goldman Sachs Group cut their target price on Moelis & Company from $86.00 to $75.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Wells Fargo & Company increased their target price on Moelis & Company from $77.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Morgan Stanley reaffirmed an “underweight” rating and issued a $70.00 target price (down from $100.00) on shares of Moelis & Company in a research report on Thursday, March 13th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $92.00 price target (up previously from $86.00) on shares of Moelis & Company in a research report on Thursday, February 6th. Finally, JMP Securities restated a “market perform” rating on shares of Moelis & Company in a report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $71.83.

Insider Transactions at Moelis & Company

In related news, insider Christopher Callesano sold 1,282 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $74.00, for a total value of $94,868.00. Following the completion of the sale, the insider now directly owns 1,227 shares of the company’s stock, valued at $90,798. This represents a 51.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Ciafone Katherine Pilcher sold 3,515 shares of Moelis & Company stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $74.00, for a total value of $260,110.00. Following the transaction, the chief operating officer now directly owns 3,934 shares in the company, valued at approximately $291,116. This trade represents a 47.19 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,721 shares of company stock valued at $1,677,017. Corporate insiders own 6.40% of the company’s stock.

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.