ARP Americas LLC Purchases Shares of 6,527 Morgan Stanley (NYSE:MS)
ARP Americas LLC purchased a new position in Morgan Stanley (NYSE:MS) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,527 shares of the financial services provider’s stock, valued at approximately $291,000.
A number of other hedge funds also recently modified their holdings of MS. Smithfield Trust Co. increased its stake in shares of Morgan Stanley by 1.2% in the second quarter. Smithfield Trust Co. now owns 3,690 shares of the financial services provider’s stock worth $164,000 after buying an additional 42 shares in the last quarter. Eads & Heald Investment Counsel bought a new stake in shares of Morgan Stanley during the second quarter worth about $205,000. Korea Investment CORP increased its stake in shares of Morgan Stanley by 12.2% in the second quarter. Korea Investment CORP now owns 1,803,576 shares of the financial services provider’s stock worth $80,367,000 after buying an additional 195,863 shares in the last quarter. Stratos Wealth Partners LTD. increased its stake in shares of Morgan Stanley by 20.4% in the second quarter. Stratos Wealth Partners LTD. now owns 18,995 shares of the financial services provider’s stock worth $846,000 after buying an additional 3,218 shares in the last quarter. Finally, Sei Investments Co. increased its stake in shares of Morgan Stanley by 8.3% in the second quarter. Sei Investments Co. now owns 1,079,521 shares of the financial services provider’s stock worth $48,103,000 after buying an additional 82,554 shares in the last quarter. Institutional investors own 85.67% of the company’s stock.
Morgan Stanley (MS) opened at 45.65 on Friday. The stock’s 50 day moving average price is $46.14 and its 200 day moving average price is $44.39. Morgan Stanley has a 52 week low of $29.31 and a 52 week high of $48.90. The stock has a market cap of $83.84 billion, a price-to-earnings ratio of 13.08 and a beta of 1.63.
Morgan Stanley (NYSE:MS) last issued its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.87 earnings per share for the quarter, topping 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 the consensus estimate of $9.05 billion. During the same quarter in the prior year, the business earned $0.75 EPS. Morgan Stanley’s revenue was up 6.7% on a year-over-year basis. On average, analysts forecast that Morgan Stanley will post $3.50 earnings per share for the current year.
Morgan Stanley announced that its Board of Directors has authorized a stock 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 stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared 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 annualized dividend and a yield of 2.19%. Morgan Stanley’s dividend payout ratio is 28.65%.
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MS has been the topic of a number of recent analyst reports. HSBC Holdings plc set a $54.00 target price on Morgan Stanley and gave the stock a “neutral” rating in a research note on Friday. Wells Fargo & Company initiated coverage on Morgan Stanley in a research note on Wednesday. They issued a “market perform” rating and a $48.00 target price on the stock. Zacks Investment Research upgraded Morgan Stanley from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Macquarie reiterated an “outperform” rating and issued a $52.00 target price (up previously from $51.00) on shares of Morgan Stanley in a research note on Saturday, July 22nd. Finally, Credit Suisse Group reiterated a “neutral” rating and issued a $49.00 target price (up previously from $47.00) on shares of Morgan Stanley in a research note on Saturday, July 22nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Morgan Stanley presently has a consensus rating of “Buy” and a consensus target price of $48.02.
In other Morgan Stanley news, Chairman James P. Gorman sold 212,366 shares of the company’s stock in a transaction dated 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 sale, the chairman now owns 1,602,609 shares in the company, valued at approximately $75,739,301.34. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Jonathan Pruzan sold 25,767 shares of the company’s stock in a transaction dated 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 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 owned by corporate insiders.
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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