Morgan Stanley (NYSE:MS) Shares Bought by Korea Investment CORP
Korea Investment CORP boosted its stake in Morgan Stanley (NYSE:MS) by 12.2% during the second quarter, Holdings Channel reports. The fund owned 1,803,576 shares of the financial services provider’s stock after buying an additional 195,863 shares during the period. Korea Investment CORP’s holdings in Morgan Stanley were worth $80,367,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Davidson Investment Advisors boosted its stake in Morgan Stanley by 2.6% in the first quarter. Davidson Investment Advisors now owns 291,525 shares of the financial services provider’s stock valued at $12,486,000 after buying an additional 7,462 shares during the last quarter. Westpac Banking Corp boosted its stake in Morgan Stanley by 28.5% in the first quarter. Westpac Banking Corp now owns 330,925 shares of the financial services provider’s stock valued at $9,425,000 after buying an additional 73,424 shares during the last quarter. SG Americas Securities LLC boosted its stake in Morgan Stanley by 113.2% in the first quarter. SG Americas Securities LLC now owns 206,426 shares of the financial services provider’s stock valued at $8,843,000 after buying an additional 1,773,467 shares during the last quarter. LGT Capital Partners LTD. boosted its stake in Morgan Stanley by 17.4% in the first quarter. LGT Capital Partners LTD. now owns 292,900 shares of the financial services provider’s stock valued at $12,548,000 after buying an additional 43,480 shares during the last quarter. Finally, Capital Investment Advisors LLC boosted its stake in Morgan Stanley by 7.1% in the first quarter. Capital Investment Advisors LLC now owns 10,859 shares of the financial services provider’s stock valued at $465,000 after buying an additional 724 shares during the last quarter. Institutional investors own 85.67% of the company’s stock.
Shares of Morgan Stanley (NYSE:MS) opened at 46.30 on Friday. The stock 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. The firm has a 50-day moving average price of $46.11 and a 200-day moving average price of $44.36.
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, topping the Zacks’ 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 firm had revenue of $9.50 billion for the quarter, compared to analyst estimates of $9.05 billion. During the same quarter last year, the business earned $0.75 earnings per share. Morgan Stanley’s revenue was up 6.7% compared to the same quarter last year. Equities analysts expect that Morgan Stanley will post $3.50 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 31st will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, July 27th. This represents a $1.00 dividend on an annualized basis and a yield of 2.16%. This is a positive change from Morgan Stanley’s previous quarterly dividend of $0.20. Morgan Stanley’s dividend payout ratio (DPR) is 28.65%.
Morgan Stanley declared that its board has authorized a share buyback program on Wednesday, June 28th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 6.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
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MS has been the topic of several research analyst reports. Zacks Investment Research cut Morgan Stanley from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. J P Morgan Chase & Co reiterated a “buy” rating on shares of Morgan Stanley in a report on Monday, May 29th. Instinet reiterated a “buy” rating and issued a $50.00 price objective (down from $51.00) on shares of Morgan Stanley in a report on Saturday, June 3rd. Rafferty Capital Markets reiterated a “buy” rating and issued a $50.00 price objective on shares of Morgan Stanley in a report on Saturday, April 22nd. Finally, Wells Fargo & Company initiated coverage on Morgan Stanley in a report on Wednesday. They issued a “market perform” rating and a $48.00 price objective on the stock. One analyst has rated the stock with a sell rating, nine have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Morgan Stanley currently has a consensus rating of “Buy” and an average target price of $48.02.
In other Morgan Stanley news, Chairman James P. Gorman sold 212,366 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were 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 of the company’s stock, valued at $75,739,301.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Jonathan Pruzan sold 25,767 shares of the stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $46.68, for a total transaction of $1,202,803.56. Following the transaction, the chief financial officer now directly owns 196,708 shares in the company, valued at approximately $9,182,329.44. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by company 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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