The Goldman Sachs Group Boosts Moelis & Company (NYSE:MC) Price Target to $87.00

Moelis & Company (NYSE:MC) had its price objective raised by The Goldman Sachs Group from $79.00 to $87.00 in a research note released on Thursday,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the asset manager’s stock.

A number of other analysts also recently issued reports on the company. JMP Securities reissued a “market perform” rating on shares of Moelis & Company in a research report on Thursday. Wells Fargo & Company raised their target price on Moelis & Company from $77.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Thursday. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $92.00 target price (up from $86.00) on shares of Moelis & Company in a research report on Thursday. Finally, Morgan Stanley lifted their price target on Moelis & Company from $95.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $78.83.

Moelis & Company Trading Up 2.0 %

Shares of Moelis & Company stock opened at $81.24 on Thursday. The business’s fifty day simple moving average is $75.40 and its 200 day simple moving average is $70.67. The firm has a market capitalization of $6.09 billion, a P/E ratio of 153.29 and a beta of 1.40. Moelis & Company has a 12 month low of $46.24 and a 12 month high of $82.89.

Moelis & Company (NYSE:MC) last issued 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 12.15% and a net margin of 4.22%. Analysts predict that Moelis & Company will post 1.05 EPS for the current fiscal year.

Moelis & Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, February 18th will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $2.60 annualized dividend and a yield of 3.20%. This is a positive change from Moelis & Company’s previous quarterly dividend of $0.60. Moelis & Company’s payout ratio is 452.83%.

Institutional Investors Weigh In On Moelis & Company

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Edgestream Partners L.P. bought a new stake in shares of Moelis & Company in the 4th quarter valued at about $2,784,000. Callan Family Office LLC increased its holdings in Moelis & Company by 549.7% during the 4th quarter. Callan Family Office LLC now owns 19,808 shares of the asset manager’s stock valued at $1,463,000 after purchasing an additional 16,759 shares during the period. Vestmark Advisory Solutions Inc. increased its holdings in Moelis & Company by 1.7% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 55,409 shares of the asset manager’s stock valued at $4,094,000 after purchasing an additional 907 shares during the period. Raymond James Financial Inc. purchased a new position in Moelis & Company during the 4th quarter valued at about $27,855,000. Finally, Arizona State Retirement System increased its holdings in Moelis & Company by 0.8% during the 4th quarter. Arizona State Retirement System now owns 20,420 shares of the asset manager’s stock valued at $1,509,000 after purchasing an additional 163 shares during the period. Institutional investors own 91.53% of the company’s stock.

About Moelis & Company

Moelis & Company operates as an investment banking advisory firm. It offers advisory services in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets transactions, and other corporate finance matters, as well as strategic, capital structure, and private funds advisory.