Wells Fargo & Company MN Sells 108,507 Shares of Moelis & Company (NYSE:MC)

Wells Fargo & Company MN lessened its holdings in shares of Moelis & Company (NYSE:MC - Free Report) by 10.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 960,478 shares of the asset manager's stock after selling 108,507 shares during the quarter. Wells Fargo & Company MN owned 1.28% of Moelis & Company worth $70,960,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of MC. Captrust Financial Advisors boosted its position in shares of Moelis & Company by 31.5% during the third quarter. Captrust Financial Advisors now owns 5,458 shares of the asset manager's stock valued at $374,000 after buying an additional 1,306 shares during the last quarter. Verition Fund Management LLC purchased a new position in Moelis & Company during the 3rd quarter worth $779,000. Centiva Capital LP purchased a new position in Moelis & Company during the 3rd quarter worth $316,000. Stifel Financial Corp grew its stake in shares of Moelis & Company by 2.0% in the 3rd quarter. Stifel Financial Corp now owns 241,772 shares of the asset manager's stock worth $16,564,000 after acquiring an additional 4,762 shares in the last quarter. Finally, MML Investors Services LLC raised its holdings in shares of Moelis & Company by 13.6% in the third quarter. MML Investors Services LLC now owns 7,679 shares of the asset manager's stock valued at $526,000 after purchasing an additional 921 shares during the last quarter. Institutional investors own 91.53% of the company's stock.

Analysts Set New Price Targets

MC has been the subject of a number of recent analyst reports. Wells Fargo & Company reduced their price objective on shares of Moelis & Company from $63.00 to $55.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Morgan Stanley reduced their target price on Moelis & Company from $70.00 to $42.00 and set an "underweight" rating for the company in a report on Monday, April 7th. JMP Securities reissued a "market perform" rating on shares of Moelis & Company in a research report on Thursday, February 6th. The Goldman Sachs Group decreased their target price on Moelis & Company from $86.00 to $75.00 and set a "neutral" rating for the company in a research report on Friday, March 14th. Finally, Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $92.00 price target (up from $86.00) on shares of Moelis & Company in a report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, Moelis & Company has an average rating of "Hold" and an average target price of $62.50.

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Moelis & Company Stock Performance

NYSE MC traded up $1.45 during trading on Monday, hitting $52.05. 166,719 shares of the company's stock traded hands, compared to its average volume of 719,888. The stock has a market capitalization of $3.90 billion, a price-to-earnings ratio of 29.57 and a beta of 1.53. The business has a 50 day moving average of $64.25 and a 200-day moving average of $70.14. Moelis & Company has a 12-month low of $46.24 and a 12-month high of $82.89.

Moelis & Company (NYSE:MC - Get Free Report) last posted its quarterly 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 return on equity of 38.49% and a net margin of 11.39%. On average, analysts expect that Moelis & Company will post 2.97 EPS for the current year.

Moelis & Company Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, February 18th were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 5.00%. The ex-dividend date of this dividend was Tuesday, February 18th. This is a positive change from Moelis & Company's previous quarterly dividend of $0.60. Moelis & Company's payout ratio is presently 147.73%.

Insider Activity

In other 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 value of $94,868.00. Following the transaction, the insider now owns 1,227 shares of the company's stock, valued at approximately $90,798. This represents a 51.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kenneth Shropshire sold 2,551 shares of Moelis & Company stock in a transaction on Friday, February 21st. The shares were sold at an average price of $72.30, for a total value of $184,437.30. Following the sale, the director now directly owns 6,940 shares of the company's stock, valued at $501,762. This represents a 26.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,721 shares of company stock worth $1,677,017 over the last ninety days. Company insiders own 6.40% of the company's stock.

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.