PNC Financial Services Group Inc. Has $1.05 Million Stock Holdings in Moelis & Company (NYSE:MC)

PNC Financial Services Group Inc. trimmed its stake in shares of Moelis & Company (NYSE:MC) by 21.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,244 shares of the asset manager’s stock after selling 3,978 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Moelis & Company were worth $1,052,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in Moelis & Company in the 4th quarter valued at approximately $27,855,000. Fisher Asset Management LLC increased its position in Moelis & Company by 252.8% in the 4th quarter. Fisher Asset Management LLC now owns 220,770 shares of the asset manager’s stock valued at $16,310,000 after acquiring an additional 158,200 shares during the period. Proficio Capital Partners LLC acquired a new position in Moelis & Company in the 4th quarter valued at approximately $10,158,000. Hodges Capital Management Inc. acquired a new position in Moelis & Company in the 4th quarter valued at approximately $9,149,000. Finally, Pier Capital LLC acquired a new position in Moelis & Company in the 3rd quarter valued at approximately $8,152,000. 91.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Moelis & Company news, CEO Kenneth Moelis sold 9,712 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $74.00, for a total value of $718,688.00. Following the transaction, the chief executive officer now directly owns 209,235 shares of the company’s stock, valued at approximately $15,483,390. This trade represents a 4.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kenneth Shropshire sold 2,551 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $72.30, for a total transaction of $184,437.30. Following the completion of the transaction, the director now directly owns 6,940 shares in the company, valued at $501,762. This trade represents a 26.88 % 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 over the last ninety days. 6.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have issued reports on MC. The Goldman Sachs Group decreased their price target on shares of Moelis & Company from $86.00 to $75.00 and set a “neutral” rating for the company in a research report on Friday. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $92.00 price objective (up from $86.00) on shares of Moelis & Company in a research note on Thursday, February 6th. Wells Fargo & Company upped their price objective on shares of Moelis & Company from $77.00 to $83.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Morgan Stanley reaffirmed an “underweight” rating and issued a $70.00 price objective (down from $100.00) on shares of Moelis & Company in a research note on Thursday. Finally, StockNews.com lowered shares of Moelis & Company from a “buy” rating to a “hold” rating in a research note on Thursday. 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 company’s stock. According to MarketBeat.com, Moelis & Company has an average rating of “Hold” and an average price target of $71.83.

Moelis & Company Stock Up 1.8 %

Shares of NYSE MC opened at $59.61 on Monday. The firm has a market cap of $4.47 billion, a PE ratio of 33.87 and a beta of 1.43. Moelis & Company has a 12-month low of $46.24 and a 12-month high of $82.89. The company’s fifty day simple moving average is $72.87 and its 200 day simple moving average is $71.78.

Moelis & Company (NYSE:MC) last issued its earnings results 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%. On average, equities analysts predict that Moelis & Company will post 2.97 earnings per share for the current year.

Moelis & Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, February 18th will be paid a dividend of $0.65 per share. The ex-dividend date is Tuesday, February 18th. This is a positive change from Moelis & Company’s previous quarterly dividend of $0.60. This represents a $2.60 annualized dividend and a yield of 4.36%. Moelis & Company’s dividend payout ratio is currently 147.73%.

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.