CIBC Asset Management Inc Boosts Stake in Morgan Stanley (MS)
CIBC Asset Management Inc raised its position in Morgan Stanley (NYSE:MS) by 7.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 164,009 shares of the financial services provider’s stock after buying an additional 11,045 shares during the period. CIBC Asset Management Inc’s holdings in Morgan Stanley were worth $7,308,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Quadrature Capital Ltd boosted its stake in shares of 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 period. CENTRAL TRUST Co boosted its position 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 position 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 position 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 position 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 hedge funds and other institutional investors.
Shares of Morgan Stanley (NYSE:MS) opened at 48.31 on Tuesday. The firm has a 50 day moving average of $45.61 and a 200 day moving average of $44.14. The firm has a market cap of $88.89 billion, a price-to-earnings ratio of 13.83 and a beta of 1.63. Morgan Stanley has a 52 week low of $28.59 and a 52 week high of $48.40. Morgan Stanley also was the target of some unusual options trading activity on Monday. Stock investors acquired 6,765 call options on the stock. This represents an increase of 381% compared to the average volume of 1,407 call options.
Morgan Stanley (NYSE:MS) last issued its earnings results on Wednesday, July 19th. The financial services provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.11. Morgan Stanley had a net margin of 16.77% and a return on equity of 9.83%. The business had revenue of $9.50 billion for the quarter, compared to analyst estimates of $9.05 billion. During the same period in the previous year, the business earned $0.75 EPS. The firm’s revenue was up 6.7% on a year-over-year basis. Equities analysts predict that Morgan Stanley will post $3.52 earnings per share for the current fiscal year.
Morgan Stanley declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, June 28th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 6.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st will be given a dividend of $0.25 per share. This is a positive change from Morgan Stanley’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend is Thursday, July 27th. Morgan Stanley’s payout ratio is 28.65%.
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A number of equities analysts have weighed in on MS shares. Zacks Investment Research raised shares of Morgan Stanley from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Tuesday, June 13th. BMO Capital Markets upped their price objective on shares of Morgan Stanley from $58.00 to $61.00 and gave the company an “outperform” rating in a research report on Thursday, July 20th. Vetr raised shares of Morgan Stanley from a “sell” rating to a “hold” rating and set a $40.50 price objective for the company in a research report on Wednesday, May 17th. Royal Bank Of Canada reissued a “buy” rating and issued a $50.00 price objective on shares of Morgan Stanley in a research report on Tuesday, June 6th. Finally, J P Morgan Chase & Co reissued a “buy” rating and issued a $53.00 price objective on shares of Morgan Stanley in a research 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 assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $47.61.
In related news, CFO Jonathan Pruzan sold 25,767 shares of Morgan Stanley stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $46.68, for a total transaction of $1,202,803.56. Following the completion of the transaction, the chief financial officer now directly owns 196,708 shares of the company’s stock, valued at approximately $9,182,329.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman James P. Gorman sold 212,365 shares of Morgan Stanley stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $42.93, for a total transaction of $9,116,829.45. Following the transaction, the chairman now directly owns 1,389,378 shares of the company’s stock, valued at $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 valued at $20,356,050 over the last three months. 0.24% of the stock is currently owned by insiders.
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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