Morgan Stanley (MS) Stake Raised by Great West Life Assurance Co. Can
Great West Life Assurance Co. Can raised its stake in Morgan Stanley (NYSE:MS) by 2.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,535,315 shares of the financial services provider’s stock after buying an additional 34,274 shares during the period. Great West Life Assurance Co. Can’s holdings in Morgan Stanley were worth $68,290,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. BlackRock Inc. boosted its position in shares of Morgan Stanley by 2,798.9% in the first quarter. BlackRock Inc. now owns 101,168,197 shares of the financial services provider’s stock worth $4,334,046,000 after buying an additional 97,678,337 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Morgan Stanley by 4.9% in the first quarter. Vanguard Group Inc. now owns 92,226,969 shares of the financial services provider’s stock worth $3,951,003,000 after buying an additional 4,331,723 shares during the last quarter. FMR LLC boosted its position in shares of Morgan Stanley by 16.9% in the first quarter. FMR LLC now owns 46,221,986 shares of the financial services provider’s stock worth $1,980,150,000 after buying an additional 6,692,676 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Morgan Stanley by 7.2% in the first quarter. Geode Capital Management LLC now owns 14,456,307 shares of the financial services provider’s stock worth $618,456,000 after buying an additional 970,041 shares during the last quarter. Finally, Janus Capital Management LLC boosted its position in shares of Morgan Stanley by 32.2% in the first quarter. Janus Capital Management LLC now owns 12,159,681 shares of the financial services provider’s stock worth $520,921,000 after buying an additional 2,962,234 shares during the last quarter. Institutional investors and hedge funds own 85.67% of the company’s stock.
Morgan Stanley (NYSE MS) opened at 48.08 on Monday. The firm has a 50-day moving average price of $45.61 and a 200 day moving average price of $44.14. Morgan Stanley has a one year low of $28.59 and a one year high of $48.45. The company has a market cap of $88.47 billion, a price-to-earnings ratio of 13.77 and a beta of 1.63.
Morgan Stanley (NYSE:MS) last posted its earnings results on Wednesday, July 19th. The financial services provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.11. Morgan Stanley had a return on equity of 9.83% and a net margin of 16.77%. The firm had revenue of $9.50 billion for the quarter, compared to the consensus estimate of $9.05 billion. During the same quarter in the prior year, the business earned $0.75 EPS. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. Equities analysts expect that Morgan Stanley will post $3.52 earnings per share for the current fiscal year.
Morgan Stanley declared that its board has authorized a share repurchase program on Wednesday, June 28th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the financial services provider to buy up to 6.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st will be issued a dividend of $0.25 per share. This is an increase from Morgan Stanley’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, July 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.08%. Morgan Stanley’s dividend payout ratio is 28.65%.
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MS has been the subject of a number of recent research reports. Zacks Investment Research raised Morgan Stanley from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a report on Tuesday, June 13th. BMO Capital Markets upped their target price on Morgan Stanley from $58.00 to $61.00 and gave the stock an “outperform” rating in a report on Thursday, July 20th. Vetr raised Morgan Stanley from a “sell” rating to a “hold” rating and set a $40.50 target price for the company in a report on Wednesday, May 17th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $50.00 target price on shares of Morgan Stanley in a report on Tuesday, June 6th. Finally, J P Morgan Chase & Co reaffirmed a “buy” rating and issued a $53.00 target price on shares of Morgan Stanley in a report on Monday, June 26th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $47.61.
In other Morgan Stanley news, Chairman James P. Gorman sold 212,366 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $47.26, for a total transaction of $10,036,417.16. Following the transaction, the chairman now owns 1,602,609 shares in the company, valued at approximately $75,739,301.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman James P. Gorman sold 212,365 shares of the company’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $42.93, for a total value of $9,116,829.45. Following the transaction, the chairman now owns 1,389,378 shares in the company, valued at approximately $59,645,997.54. The disclosure for this sale can be found here. Insiders have sold a total of 450,498 shares of company stock worth $20,356,050 in the last quarter. Company insiders own 0.24% of the company’s stock.
About Morgan Stanley
Morgan Stanley is a financial holding company. The Company’s segments include Institutional Securities, Wealth Management and Investment Management. The Company’s Institutional Securities business segment provides investment banking, sales and trading, and other services to corporations, governments, financial institutions and high-to-ultra high net worth clients.
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