Moelis & Co (NYSE:MC) declared a quarterly dividend on Tuesday, October 23rd, Wall Street Journal reports. Stockholders of record on Thursday, November 1st will be given a dividend of 0.47 per share by the asset manager on Wednesday, November 14th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date of this dividend is Wednesday, October 31st.
Moelis & Co has increased its dividend payment by an average of 54.7% annually over the last three years and has increased its dividend every year for the last 3 years. Moelis & Co has a payout ratio of 68.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Moelis & Co to earn $2.99 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 62.9%.
Shares of Moelis & Co stock opened at $40.70 on Friday. The firm has a market capitalization of $2.84 billion, a price-to-earnings ratio of 17.77, a price-to-earnings-growth ratio of 1.35 and a beta of 1.68. Moelis & Co has a 52 week low of $40.17 and a 52 week high of $67.65.
In other news, Director Kenneth Shropshire sold 1,500 shares of the stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $57.85, for a total transaction of $86,775.00. Following the transaction, the director now owns 4,968 shares of the company’s stock, valued at approximately $287,398.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 29.91% of the stock is owned by corporate insiders.
A number of research analysts have recently commented on the stock. UBS Group cut their price target on shares of Moelis & Co from $62.00 to $59.00 and set a “neutral” rating on the stock in a report on Monday, October 8th. ValuEngine downgraded shares of Moelis & Co from a “buy” rating to a “hold” rating in a research note on Tuesday, September 4th. Zacks Investment Research upgraded shares of Moelis & Co from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a research note on Friday, July 27th. Finally, Bank of America upped their target price on shares of Moelis & Co from $59.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, July 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. Moelis & Co currently has a consensus rating of “Hold” and a consensus price target of $61.33.
Moelis & Co Company Profile
Moelis & Company is a global investment bank. The firm provides services relating to mergers & acquisitions, recapitalization & restructuring, capital markets and financial institution advisory; private funds; shareholder defense and strategic alliances. The firm's expertise is into global energy; IPO advisory; technology, media, telecommunication sectors.
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