Morgan Stanley (NYSE:MS) Position Decreased by Eastern Bank
Eastern Bank reduced its position in shares of Morgan Stanley (NYSE:MS) by 0.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 338,517 shares of the financial services provider’s stock after selling 3,135 shares during the period. Eastern Bank’s holdings in Morgan Stanley were worth $15,085,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the stock. Quadrature Capital Ltd boosted its stake in Morgan Stanley by 130.8% in the fourth quarter. Quadrature Capital Ltd now owns 14,700 shares of the financial services provider’s stock worth $621,000 after buying an additional 8,330 shares during the last quarter. CENTRAL TRUST Co boosted its stake in Morgan Stanley by 5.5% in the first quarter. CENTRAL TRUST Co now owns 12,802 shares of the financial services provider’s stock worth $548,000 after buying an additional 662 shares during the last quarter. Osborn Williams & Donohoe LLC boosted its stake in Morgan Stanley by 4.0% in the first quarter. Osborn Williams & Donohoe LLC now owns 5,256 shares of the financial services provider’s stock worth $225,000 after buying an additional 200 shares during the last quarter. Raymond James Trust N.A. boosted its stake in Morgan Stanley by 16.2% in the first quarter. Raymond James Trust N.A. now owns 14,803 shares of the financial services provider’s stock worth $635,000 after buying an additional 2,066 shares during the last quarter. Finally, Creative Planning boosted its stake in Morgan Stanley by 36.2% in the first quarter. Creative Planning now owns 74,254 shares of the financial services provider’s stock worth $3,181,000 after buying an additional 19,754 shares during the last quarter. 85.67% of the stock is owned by institutional investors.
Shares of Morgan Stanley (NYSE MS) opened at 48.08 on Monday. The stock has a 50 day moving average price of $45.61 and a 200 day moving average price of $44.14. The firm has a market cap of $88.47 billion, a P/E ratio of 13.77 and a beta of 1.63. Morgan Stanley has a 12-month low of $28.59 and a 12-month high of $48.45.
Morgan Stanley (NYSE:MS) last announced its earnings results on Wednesday, July 19th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.11. Morgan Stanley had a return on equity of 9.83% and a net margin of 16.77%. The company had revenue of $9.50 billion for the quarter, compared to analysts’ expectations of $9.05 billion. During the same quarter in the previous year, the firm earned $0.75 earnings per share. Morgan Stanley’s quarterly revenue was up 6.7% on a year-over-year basis. On average, equities analysts expect that Morgan Stanley will post $3.52 earnings per share for the current year.
Morgan Stanley declared that its board has authorized a stock buyback program on Wednesday, June 28th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 6.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $1.00 annualized dividend and a yield of 2.08%. This is a boost from Morgan Stanley’s previous quarterly dividend of $0.20. Morgan Stanley’s payout ratio is currently 28.65%.
A number of research firms recently issued reports on MS. Zacks Investment Research cut Morgan Stanley from a “buy” rating to a “hold” rating in a research note on Wednesday, May 24th. Credit Suisse Group reissued a “neutral” rating and set a $49.00 target price (up from $47.00) on shares of Morgan Stanley in a research note on Saturday, July 22nd. J P Morgan Chase & Co reissued a “buy” rating and set a $53.00 target price on shares of Morgan Stanley in a research note on Monday, June 26th. Vetr raised Morgan Stanley from a “sell” rating to a “hold” rating and set a $40.50 target price for the company in a research note on Tuesday, May 23rd. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $50.00 target price on shares of Morgan Stanley in a research note on Tuesday, June 6th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Morgan Stanley has a consensus rating of “Buy” and a consensus target price of $47.61.
In other Morgan Stanley news, CFO Jonathan Pruzan sold 25,767 shares of the business’s stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $46.68, for a total value of $1,202,803.56. Following the transaction, the chief financial officer now owns 196,708 shares of the company’s stock, valued at $9,182,329.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman James P. Gorman sold 212,365 shares of the business’s stock in a transaction 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 completion of the transaction, the chairman now directly owns 1,389,378 shares in the company, valued at approximately $59,645,997.54. The disclosure for this sale can be found here. In the last three months, insiders sold 450,498 shares of company stock worth $20,356,050. Insiders own 0.24% of the company’s stock.
Morgan Stanley Company Profile
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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