Russell Investments Group Ltd. Cuts Position in Moelis & Company (NYSE:MC)

Russell Investments Group Ltd. trimmed its holdings in shares of Moelis & Company (NYSE:MC – Free Report) by 7.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission.

The fund owned 17,311 shares of the asset manager’s stock after selling 1,316 shares during the quarter. Russell Investments Group Ltd.’s holdings in Moelis & Company were worth $1,279,000 at the end of the most recent quarter.



A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. raised its position in Moelis & Company by 1.

2% in the fourth quarter. Vanguard Group Inc. now owns 8,147,315 shares of the asset manager’s stock worth $601,924,000 after acquiring an additional 99,766 shares during the period.

Madison Investment Advisors LLC purchased a new position in Moelis & Company in the fourth quarter valued at approximately $86,062,000. Charles Schwab Investment Management Inc. grew its holdings in Moelis & Company by 1.

4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 935,552 shares of the asset manager’s stock valued at $69,119,000 after purchasing an additional 12,632 shares during the period.

Assenagon Asset Management S.A. increased its position in Moelis & Company by 7.

5% in the fourth quarter. Assenagon Asset Management S.A.

now owns 768,945 shares of the asset manager’s stock worth $56,810,000 after buying an additional 53,473 shares during the last quarter. Finally, Norges Bank purchased a new stake in Moelis & Company during the fourth quarter valued at about $52,610,000. 91.

53% of the stock is currently owned by institutional investors. Moelis & Company Trading Up 1.8 %MC stock opened at $51.

68 on Monday. Moelis & Company has a 12-month low of $46.24 and a 12-month high of $82.

89. The stock’s 50 day simple moving average is $61.50 and its 200 day simple moving average is $69.

58. The stock has a market capitalization of $3.87 billion, a PE ratio of 29.

37 and a beta of 1.53. Moelis & Company (NYSE:MC – Get Free Report) last posted its earnings results on Wednesday, February 5th.

The asset manager reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.

79. Moelis & Company had a net margin of 11.39% and a return on equity of 38.

49%. On average, research analysts predict that Moelis & Company will post 2.97 earnings per share for the current year.

Moelis & Company Increases DividendThe business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.65 per share.

This is a boost from Moelis & Company’s previous quarterly dividend of $0.60. This represents a $2.

60 dividend on an annualized basis and a dividend yield of 5.03%. The ex-dividend date was Tuesday, February 18th.

Moelis & Company’s payout ratio is presently 147.73%. Insider ActivityIn related news, insider Christopher Callesano sold 1,282 shares of the company’s stock in a transaction on Wednesday, February 19th.

The shares were sold at an average price of $74.00, for a total transaction of $94,868.00.

Following the completion of the transaction, the insider now owns 1,227 shares in the company, valued at approximately $90,798. This represents a 51.10 % decrease in their ownership of the stock.

The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kenneth Moelis sold 9,712 shares of the business’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 $718,688.00. Following the completion of the sale, the chief executive officer now owns 209,235 shares in the company, valued at $15,483,390.

This represents a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Insiders have sold a total of 22,721 shares of company stock valued at $1,677,017 in the last ninety days. Corporate insiders own 6.40% of the company’s stock.

Analysts Set New Price TargetsSeveral research analysts have commented on the company. Wells Fargo & Company cut their target price on Moelis & Company from $63.00 to $55.

00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. JMP Securities restated a “market perform” rating on shares of Moelis & Company in a research report on Thursday, February 6th. The Goldman Sachs Group decreased their price objective on shares of Moelis & Company from $86.

00 to $75.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $92.

00 target price (up from $86.00) on shares of Moelis & Company in a research report on Thursday, February 6th. Finally, Morgan Stanley lowered their price objective on shares of Moelis & Company from $70.

00 to $42.00 and set an “underweight” rating on the stock in a research report on Monday, April 7th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock.

According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $62.50.Check Out Our Latest Research Report on Moelis & CompanyAbout Moelis & Company (Free Report)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.Featured StoriesFive stocks we like better than Moelis & CompanyDiversification Can Smooth Returns And Mitigate Portfolio RiskWith a 60%+ Upside, There’s Plenty to Love About LovesacHow to trade using analyst ratingsJ.

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