State of New Jersey Common Pension Fund D Has $2.08 Million Holdings in Moelis & Company $MC

State of New Jersey Common Pension Fund D lifted its stake in shares of Moelis & Company (NYSE:MC) by 21.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 33,294 shares of the asset manager’s stock after buying an additional 5,819 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Moelis & Company were worth $2,075,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. eCIO Inc. acquired a new position in shares of Moelis & Company during the first quarter worth $50,000. GAMMA Investing LLC increased its holdings in shares of Moelis & Company by 38.9% during the first quarter. GAMMA Investing LLC now owns 1,632 shares of the asset manager’s stock worth $95,000 after buying an additional 457 shares in the last quarter. New Age Alpha Advisors LLC acquired a new position in shares of Moelis & Company during the first quarter worth $107,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Moelis & Company during the first quarter worth $124,000. Finally, Petrus Trust Company LTA acquired a new stake in Moelis & Company in the first quarter valued at $221,000. 91.53% of the stock is currently owned by institutional investors and hedge funds.

Moelis & Company Trading Down 6.3%

Shares of MC opened at $66.82 on Thursday. The stock has a market capitalization of $5.25 billion, a P/E ratio of 26.31 and a beta of 1.77. The firm’s fifty day simple moving average is $70.96 and its two-hundred day simple moving average is $65.06. Moelis & Company has a 12 month low of $47.00 and a 12 month high of $82.89.

Moelis & Company (NYSE:MC) last issued its quarterly earnings results on Wednesday, October 29th. The asset manager reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.12. Moelis & Company had a net margin of 14.31% and a return on equity of 42.72%. The firm’s revenue was up 30.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.22 EPS. As a group, research analysts predict that Moelis & Company will post 2.97 EPS for the current fiscal year.

Moelis & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Monday, November 10th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, November 10th. This represents a $2.60 dividend on an annualized basis and a yield of 3.9%. Moelis & Company’s dividend payout ratio is 102.36%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on MC shares. Wells Fargo & Company increased their price objective on Moelis & Company from $50.00 to $64.00 and gave the company an “equal weight” rating in a report on Friday, July 11th. Keefe, Bruyette & Woods decreased their price objective on Moelis & Company from $89.00 to $80.00 and set a “moderate buy” rating for the company in a report on Monday, October 13th. Deutsche Bank Aktiengesellschaft started coverage on Moelis & Company in a report on Thursday, October 9th. They issued a “buy” rating and a $80.00 price objective for the company. Morgan Stanley increased their price objective on Moelis & Company from $74.00 to $90.00 and gave the company an “overweight” rating in a report on Monday, September 8th. Finally, Zacks Research downgraded Moelis & Company from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, Moelis & Company has a consensus rating of “Hold” and a consensus target price of $71.86.

Insider Buying and Selling

In other Moelis & Company news, Director Kenneth Shropshire sold 2,615 shares of the company’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $72.52, for a total transaction of $189,639.80. Following the sale, the director owned 7,109 shares of the company’s stock, valued at approximately $515,544.68. This represents a 26.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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.