IFP Advisors Inc Boosts Position in Morgan Stanley (NYSE:MS)
IFP Advisors Inc raised its stake in shares of Morgan Stanley (NYSE:MS) by 14.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,836 shares of the financial services provider’s stock after buying an additional 3,885 shares during the period. IFP Advisors Inc’s holdings in Morgan Stanley were worth $1,374,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in MS. DnB Asset Management AS raised its stake in Morgan Stanley by 24.1% in the first quarter. DnB Asset Management AS now owns 335,854 shares of the financial services provider’s stock valued at $14,388,000 after buying an additional 65,200 shares during the last quarter. Capital Investment Advisors LLC raised 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 in the last quarter. Reliance Trust Co. of Delaware purchased a new stake in Morgan Stanley during the first quarter valued at about $268,000. Wealth Enhancement Advisory Services LLC raised its stake in Morgan Stanley by 49.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 29,602 shares of the financial services provider’s stock valued at $1,251,000 after buying an additional 9,764 shares in the last quarter. Finally, Regent Investment Management LLC raised its stake in Morgan Stanley by 185.6% in the first quarter. Regent Investment Management LLC now owns 59,270 shares of the financial services provider’s stock valued at $2,539,000 after buying an additional 38,520 shares in the last quarter. 85.67% of the stock is owned by hedge funds and other institutional investors.
Morgan Stanley (NYSE MS) opened at 45.65 on Friday. Morgan Stanley has a 52-week low of $29.31 and a 52-week high of $48.90. The company has a market capitalization of $83.84 billion, a P/E ratio of 13.08 and a beta of 1.63. The stock’s 50 day moving average price is $46.14 and its 200-day moving average price is $44.39.
Morgan Stanley (NYSE:MS) last issued its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.87 EPS 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 firm had revenue of $9.50 billion during the quarter, compared to analysts’ expectations of $9.05 billion. During the same period in the previous year, the business earned $0.75 earnings per share. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. Analysts predict that Morgan Stanley will post $3.50 earnings per share for the current fiscal year.
Morgan Stanley announced that its Board of Directors has approved a stock buyback program 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 stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.
The company also recently declared 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. This represents a $1.00 annualized dividend and a dividend yield of 2.19%. This is a boost from Morgan Stanley’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, July 27th. Morgan Stanley’s payout ratio is presently 28.65%.
Several research firms recently issued reports on MS. J P Morgan Chase & Co reissued a “buy” rating on shares of Morgan Stanley in a report on Tuesday, May 23rd. Deutsche Bank AG reissued a “buy” rating on shares of Morgan Stanley in a report on Monday, July 3rd. Vetr raised shares of Morgan Stanley from a “sell” rating to a “hold” rating and set a $40.50 target price for the company in a report on Tuesday, May 23rd. Citigroup Inc. increased their target price on shares of Morgan Stanley from $44.00 to $46.00 and gave the stock a “neutral” rating in a report on Tuesday, April 25th. Finally, HSBC Holdings plc set a $54.00 target price on shares of Morgan Stanley and gave the stock a “neutral” rating in a report on Friday. One analyst has rated the stock with a sell rating, nine have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $48.02.
In related news, CFO Jonathan Pruzan sold 25,767 shares of the business’s 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 completion of the sale, the chief financial officer now directly owns 196,708 shares in the company, valued at $9,182,329.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman James P. Gorman sold 212,366 shares of the business’s stock in a transaction that occurred 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 sale, the chairman now owns 1,602,609 shares of the company’s stock, valued at $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.
Want to see what other hedge funds are holding MS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Morgan Stanley (NYSE:MS).
Receive News & Ratings for Morgan Stanley Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Morgan Stanley and related companies with MarketBeat.com's FREE daily email newsletter.