M&T Bank Corp Has $2.25 Million Stock Holdings in Moelis & Company (NYSE:MC)

M&T Bank Corp trimmed its holdings in shares of Moelis & Company (NYSE:MC) by 2.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 30,459 shares of the asset manager’s stock after selling 890 shares during the period. M&T Bank Corp’s holdings in Moelis & Company were worth $2,250,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of MC. US Bancorp DE raised its position in Moelis & Company by 26.6% during the third quarter. US Bancorp DE now owns 10,722 shares of the asset manager’s stock valued at $735,000 after buying an additional 2,256 shares during the period. Atria Investments Inc raised its position in Moelis & Company by 4.6% during the third quarter. Atria Investments Inc now owns 25,197 shares of the asset manager’s stock valued at $1,726,000 after buying an additional 1,107 shares during the period. Legacy Capital Wealth Partners LLC acquired a new position in Moelis & Company during the third quarter valued at $465,000. Los Angeles Capital Management LLC raised its position in Moelis & Company by 35.2% during the third quarter. Los Angeles Capital Management LLC now owns 12,248 shares of the asset manager’s stock valued at $839,000 after buying an additional 3,190 shares during the period. Finally, Venturi Wealth Management LLC raised its position in Moelis & Company by 52.3% during the third quarter. Venturi Wealth Management LLC now owns 6,443 shares of the asset manager’s stock valued at $441,000 after buying an additional 2,213 shares during the period. 91.53% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Moelis & Company

In related news, insider Christopher Callesano sold 1,282 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $74.00, for a total transaction of $94,868.00. Following the completion of the sale, the insider now owns 1,227 shares in the company, valued at $90,798. This represents a 51.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Osamu R. Watanabe sold 5,661 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $74.00, for a total value of $418,914.00. Following the sale, the general counsel now owns 6,471 shares of the company’s stock, valued at approximately $478,854. The trade was a 46.66 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,721 shares of company stock worth $1,677,017. 6.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on MC shares. The Goldman Sachs Group boosted their target price on Moelis & Company from $79.00 to $87.00 and gave the company a “neutral” rating in a research note on Thursday, February 6th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $92.00 target price (up previously from $86.00) on shares of Moelis & Company in a research note on Thursday, February 6th. Wells Fargo & Company boosted their target price on Moelis & Company from $77.00 to $83.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Morgan Stanley boosted their target price on Moelis & Company from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Finally, JMP Securities restated a “market perform” rating on shares of Moelis & Company in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Moelis & Company presently has an average rating of “Hold” and a consensus target price of $78.83.

Moelis & Company Stock Performance

MC opened at $61.86 on Monday. The company has a market cap of $4.63 billion, a PE ratio of 35.15 and a beta of 1.43. The stock has a 50-day moving average of $74.35 and a 200-day moving average of $72.05. Moelis & Company has a 52-week low of $46.24 and a 52-week high of $82.89.

Moelis & Company (NYSE:MC) last released its quarterly earnings results on Wednesday, February 5th. The asset manager reported $1.18 earnings per share (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%. On average, research analysts predict that Moelis & Company will post 2.97 earnings per share for the current year.

Moelis & Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, February 18th will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 4.20%. The ex-dividend date is Tuesday, February 18th. This is an increase from Moelis & Company’s previous quarterly dividend of $0.60. Moelis & Company’s dividend payout ratio is 147.73%.

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.