Moelis & Co (NYSE:MC) announced a quarterly dividend on Wednesday, May 1st, Wall Street Journal reports. Shareholders of record on Friday, May 10th will be given a dividend of 0.50 per share by the asset manager on Tuesday, June 25th. This represents a $2.00 annualized dividend and a dividend yield of 6.15%. The ex-dividend date is Thursday, May 9th.
Moelis & Co has increased its dividend payment by an average of 23.4% per year over the last three years and has raised its dividend annually for the last 4 consecutive years. Moelis & Co has a payout ratio of 72.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Moelis & Co to earn $3.08 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 64.9%.
Shares of NYSE:MC traded down $0.36 on Thursday, hitting $32.52. The company’s stock had a trading volume of 262,200 shares, compared to its average volume of 567,985. The stock has a market cap of $1.96 billion, a P/E ratio of 10.84, a PEG ratio of 1.20 and a beta of 1.95. The company has a quick ratio of 10.48, a current ratio of 10.48 and a debt-to-equity ratio of 0.21. Moelis & Co has a 1 year low of $32.04 and a 1 year high of $67.65.
Several equities research analysts recently weighed in on the company. ValuEngine lowered Moelis & Co from a “sell” rating to a “strong sell” rating in a research report on Tuesday, May 7th. Zacks Investment Research cut Moelis & Co from a “hold” rating to a “sell” rating in a research note on Wednesday, April 17th. Bank of America cut Moelis & Co from a “buy” rating to an “underperform” rating in a research note on Thursday, April 11th. Finally, JMP Securities lowered their price objective on Moelis & Co from $56.00 to $50.00 and set a “market outperform” rating for the company in a research note on Monday, April 8th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $53.89.
In related news, insider Christopher Callesano sold 3,500 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $38.00, for a total transaction of $133,000.00. Following the completion of the transaction, the insider now directly owns 7,269 shares of the company’s stock, valued at $276,222. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Kenneth Moelis sold 84,708 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $37.50, for a total value of $3,176,550.00. Following the transaction, the chief executive officer now directly owns 171,426 shares of the company’s stock, valued at $6,428,475. The disclosure for this sale can be found here. In the last ninety days, insiders sold 195,512 shares of company stock valued at $7,333,450. Corporate insiders own 29.91% of the company’s stock.
About Moelis & Co
Moelis & Company, an investment bank, provides strategic and financial advisory services in the United States and internationally. It advises clients in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets advisory, and other corporate finance matters. The company offers its services to public multinational corporations, governments, financial sponsors, middle market private companies, and individual entrepreneurs.
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