Smithfield Trust Co. Acquires 42 Shares of Morgan Stanley (MS)
Smithfield Trust Co. raised its position in shares of Morgan Stanley (NYSE:MS) by 1.2% during the second quarter, Holdings Channel reports. The fund owned 3,690 shares of the financial services provider’s stock after buying an additional 42 shares during the period. Smithfield Trust Co.’s holdings in Morgan Stanley were worth $164,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in the stock. Parkside Financial Bank & Trust boosted its position 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 during the last quarter. Invictus RG acquired a new position in shares of Morgan Stanley during the first quarter worth about $106,000. V Wealth Management LLC acquired a new position in shares of Morgan Stanley during the second quarter worth about $106,000. FTB Advisors Inc. boosted its position 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 during the last quarter. Finally, State of Alaska Department of Revenue acquired a new position in shares of Morgan Stanley during the first quarter worth about $120,000. 85.67% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Morgan Stanley (MS) opened at 45.65 on Friday. The firm has a 50-day moving average of $46.14 and a 200 day moving average of $44.39. Morgan Stanley has a 52 week low of $29.31 and a 52 week high of $48.90. The firm has a market capitalization of $83.84 billion, a price-to-earnings ratio of 13.08 and a beta of 1.63.
Morgan Stanley (NYSE:MS) last released its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates 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 period last year, the firm earned $0.75 earnings per share. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. On average, equities analysts predict that Morgan Stanley will post $3.50 earnings per share for the current fiscal year.
Morgan Stanley declared that its board has authorized a share repurchase plan on Wednesday, June 28th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 6.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders 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 2.19%. This is a positive change from Morgan Stanley’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, July 27th. Morgan Stanley’s dividend payout ratio (DPR) is 28.65%.
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A number of brokerages have recently weighed in on MS. J P Morgan Chase & Co reissued a “buy” rating on shares of Morgan Stanley in a research report on Tuesday, May 23rd. Deutsche Bank AG reissued a “buy” rating on shares of Morgan Stanley in a research report on Monday, July 3rd. Vetr raised shares of Morgan Stanley from a “sell” rating to a “hold” rating and set a $40.50 price target on the stock in a research report on Tuesday, May 23rd. Citigroup Inc. lifted their price target on shares of Morgan Stanley from $44.00 to $46.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 25th. Finally, HSBC Holdings plc set a $54.00 price target on shares of Morgan Stanley and gave the stock a “neutral” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, nine have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average 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 firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $47.26, for a total value of $10,036,417.16. Following the transaction, the chairman now directly 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 Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jonathan Pruzan sold 25,767 shares of the firm’s stock in a transaction on 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 in the company, valued at $9,182,329.44. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by company 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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