Independent Investors Inc. Cuts Position in Morgan Stanley (NYSE:MS)
Independent Investors Inc. cut its position in shares of Morgan Stanley (NYSE:MS) by 16.2% during the second quarter, Holdings Channel reports. The institutional investor owned 4,650 shares of the financial services provider’s stock after selling 900 shares during the period. Independent Investors Inc.’s holdings in Morgan Stanley were worth $207,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of the stock. Parkside Financial Bank & Trust boosted its stake in shares of Morgan Stanley by 9.1% in the second quarter. Parkside Financial Bank & Trust now owns 2,275 shares of the financial services provider’s stock worth $101,000 after buying an additional 190 shares in the last quarter. Invictus RG purchased a new stake in shares of Morgan Stanley during the first quarter worth $106,000. V Wealth Management LLC purchased a new stake in shares of Morgan Stanley during the second quarter worth $106,000. FTB Advisors Inc. boosted its stake in shares of Morgan Stanley by 8.1% in the first quarter. FTB Advisors Inc. now owns 2,605 shares of the financial services provider’s stock worth $112,000 after buying an additional 196 shares in the last quarter. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Morgan Stanley during the first quarter worth $120,000. Institutional investors own 85.67% of the company’s stock.
Shares of Morgan Stanley (NYSE:MS) opened at 46.30 on Friday. The firm has a 50-day moving average price of $46.11 and a 200 day moving average price of $44.36. The firm has a market cap of $85.03 billion, a price-to-earnings ratio of 13.26 and a beta of 1.63. Morgan Stanley has a 12-month low of $28.86 and a 12-month high of $48.90.
Morgan Stanley (NYSE:MS) last posted its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.87 EPS for the quarter, topping the Zacks’ 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 the consensus estimate of $9.05 billion. During the same quarter in the previous year, the business earned $0.75 EPS. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. On average, equities research analysts anticipate that Morgan Stanley will post $3.50 earnings per share for the current fiscal year.
Morgan Stanley announced that its board has approved a share buyback program on Wednesday, June 28th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 6.1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend is Thursday, July 27th. This is an increase from Morgan Stanley’s previous quarterly dividend of $0.20. Morgan Stanley’s payout ratio is currently 28.65%.
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A number of brokerages have weighed in on MS. J P Morgan Chase & Co reiterated a “buy” rating on shares of Morgan Stanley in a research note on Tuesday, May 23rd. Deutsche Bank AG reiterated a “buy” rating on shares of Morgan Stanley in a research note on Monday, July 3rd. Vetr upgraded Morgan Stanley from a “sell” rating to a “hold” rating and set a $40.50 price objective for the company in a research note on Tuesday, May 23rd. Citigroup Inc. boosted their price objective on Morgan Stanley from $44.00 to $46.00 and gave the company a “neutral” rating in a research note on Tuesday, April 25th. Finally, HSBC Holdings plc set a $54.00 price objective on Morgan Stanley and gave the company a “neutral” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $48.02.
In other 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 sale, the chief financial officer now owns 196,708 shares of the company’s stock, valued at approximately $9,182,329.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman James P. Gorman sold 212,366 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $47.26, for a total value of $10,036,417.16. Following the completion of the sale, the chairman now directly owns 1,602,609 shares in the company, valued at approximately $75,739,301.34. The disclosure for this sale can be found here. 0.35% 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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