Legacy Capital Wealth Partners LLC Sells 3,468 Shares of Moelis & Company (NYSE:MC)

Legacy Capital Wealth Partners LLC lessened its position in Moelis & Company (NYSE:MC) by 51.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,313 shares of the asset manager’s stock after selling 3,468 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in Moelis & Company were worth $245,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of MC. Geode Capital Management LLC boosted its position in shares of Moelis & Company by 0.7% during the third quarter. Geode Capital Management LLC now owns 1,590,316 shares of the asset manager’s stock worth $108,973,000 after buying an additional 10,698 shares during the period. Charles Schwab Investment Management Inc. raised its position in Moelis & Company by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 922,920 shares of the asset manager’s stock valued at $63,229,000 after buying an additional 16,830 shares during the last quarter. Natixis Advisors LLC lifted its stake in Moelis & Company by 13.7% in the 3rd quarter. Natixis Advisors LLC now owns 804,860 shares of the asset manager’s stock valued at $55,141,000 after acquiring an additional 96,720 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in Moelis & Company by 7.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 768,945 shares of the asset manager’s stock worth $56,810,000 after acquiring an additional 53,473 shares during the last quarter. Finally, Emerald Advisers LLC grew its stake in shares of Moelis & Company by 1.3% during the 3rd quarter. Emerald Advisers LLC now owns 440,330 shares of the asset manager’s stock worth $30,167,000 after acquiring an additional 5,844 shares in the last quarter. Institutional investors own 91.53% of the company’s stock.

Moelis & Company Stock Performance

Shares of MC stock opened at $75.92 on Tuesday. Moelis & Company has a 52-week low of $46.24 and a 52-week high of $82.89. The stock has a market cap of $5.69 billion, a price-to-earnings ratio of 43.14 and a beta of 1.40. The firm’s 50-day moving average is $75.67 and its 200-day moving average is $71.34.

Moelis & Company (NYSE:MC) last issued its earnings results on Wednesday, February 5th. The asset manager reported $1.18 EPS for the quarter, topping the consensus estimate of $0.39 by $0.79. Moelis & Company had a return on equity of 38.49% and a net margin of 11.39%. Sell-side analysts predict that Moelis & Company will post 2.57 EPS for the current fiscal year.

Moelis & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, February 18th will be issued a $0.65 dividend. This is an increase from Moelis & Company’s previous quarterly dividend of $0.60. This represents a $2.60 annualized dividend and a dividend yield of 3.42%. The ex-dividend date is Tuesday, February 18th. Moelis & Company’s payout ratio is currently 136.36%.

Wall Street Analysts Forecast Growth

MC has been the topic of a number of research reports. Morgan Stanley boosted their price objective on shares of Moelis & Company from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $92.00 price target (up from $86.00) on shares of Moelis & Company in a research note on Thursday, February 6th. StockNews.com upgraded shares of Moelis & Company from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. JMP Securities reaffirmed a “market perform” rating on shares of Moelis & Company in a research report on Thursday, February 6th. Finally, Wells Fargo & Company upped their target price on Moelis & Company from $77.00 to $83.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $78.83.

Moelis & Company 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.