Jennison Associates LLC Has $45.18 Million Holdings in Moelis & Company $MC

Jennison Associates LLC decreased its holdings in Moelis & Company (NYSE:MC) by 15.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 792,617 shares of the asset manager’s stock after selling 142,914 shares during the quarter. Jennison Associates LLC’s holdings in Moelis & Company were worth $45,179,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. V Square Quantitative Management LLC bought a new position in Moelis & Company during the 4th quarter worth $27,000. Hantz Financial Services Inc. grew its position in shares of Moelis & Company by 64.4% in the 4th quarter. Hantz Financial Services Inc. now owns 416 shares of the asset manager’s stock valued at $29,000 after buying an additional 163 shares during the last quarter. Allworth Financial LP grew its position in shares of Moelis & Company by 153.9% in the 3rd quarter. Allworth Financial LP now owns 419 shares of the asset manager’s stock valued at $30,000 after buying an additional 254 shares during the last quarter. Root Financial Partners LLC increased its stake in shares of Moelis & Company by 292.2% in the first quarter. Root Financial Partners LLC now owns 455 shares of the asset manager’s stock valued at $26,000 after buying an additional 339 shares during the period. Finally, eCIO Inc. acquired a new stake in shares of Moelis & Company in the fourth quarter valued at about $33,000. 91.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MC has been the topic of a number of recent analyst reports. UBS Group reaffirmed a “sell” rating and issued a $60.00 price objective (up from $58.00) on shares of Moelis & Company in a research note on Wednesday, July 8th. Morgan Stanley decreased their target price on shares of Moelis & Company from $90.00 to $83.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. Wall Street Zen lowered shares of Moelis & Company from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. Weiss Ratings downgraded shares of Moelis & Company from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Moelis & Company from $69.00 to $66.00 and set a “market perform” rating on the stock in a research note on Friday, July 10th. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $73.38.

Moelis & Company Trading Down 0.6%

MC stock opened at $67.10 on Tuesday. The stock has a 50-day moving average price of $66.75 and a 200-day moving average price of $65.63. Moelis & Company has a 1-year low of $51.06 and a 1-year high of $78.22. The firm has a market cap of $5.27 billion, a PE ratio of 24.14, a price-to-earnings-growth ratio of 0.86 and a beta of 1.85.

Moelis & Company (NYSE:MC) last announced its earnings results on Wednesday, April 29th. The asset manager reported $0.50 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.09). Moelis & Company had a net margin of 14.46% and a return on equity of 38.94%. The business had revenue of $319.78 million for the quarter, compared to the consensus estimate of $321.51 million. During the same quarter in the previous year, the company earned $0.64 EPS. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, analysts forecast that Moelis & Company will post 3.14 earnings per share for the current year.

Moelis & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Monday, May 11th were paid a $0.65 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $2.60 annualized dividend and a yield of 3.9%. Moelis & Company’s payout ratio is 93.53%.

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. The company was founded by Kenneth David Moelis, Navid Mahmoodzadegan, Jeffrey Raich and Elizabeth Ann Crain in July 2007 and is headquartered in New York, NY.