CNA Financial Corp Buys New Position in Morgan Stanley (NYSE:MS)

CNA Financial Corp bought a new stake in shares of Morgan Stanley (NYSE:MSGet Rating) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 70,000 shares of the financial services provider’s stock, valued at approximately $6,118,000. Morgan Stanley makes up approximately 1.9% of CNA Financial Corp’s investment portfolio, making the stock its 15th largest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in MS. Sageworth Trust Co of South Dakota bought a new position in Morgan Stanley in the fourth quarter worth approximately $29,000. Vienna Asset Management LLC bought a new position in Morgan Stanley in the fourth quarter worth approximately $29,000. Western Pacific Wealth Management LP bought a new position in Morgan Stanley in the fourth quarter worth approximately $29,000. Tyler Stone Wealth Management bought a new position in Morgan Stanley in the fourth quarter worth approximately $29,000. Finally, Covestor Ltd bought a new position in Morgan Stanley in the fourth quarter worth approximately $37,000. Institutional investors own 85.02% of the company’s stock.

Wall Street Analyst Weigh In

MS has been the topic of several recent research reports. The Goldman Sachs Group set a $105.00 price target on Morgan Stanley in a report on Wednesday, April 20th. Piper Sandler lowered their price objective on Morgan Stanley from $100.00 to $90.00 and set a “neutral” rating for the company in a research note on Friday, July 1st. Barclays lowered their price objective on Morgan Stanley from $123.00 to $108.00 and set an “overweight” rating for the company in a research note on Friday, July 15th. Credit Suisse Group lowered their price objective on Morgan Stanley from $100.00 to $95.00 and set an “outperform” rating for the company in a research note on Monday, July 4th. Finally, BMO Capital Markets lowered their price objective on Morgan Stanley from $105.00 to $99.00 in a research note on Friday, July 15th. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Morgan Stanley presently has a consensus rating of “Hold” and a consensus price target of $100.75.

Morgan Stanley Stock Performance

Shares of MS traded down $1.04 on Wednesday, reaching $90.78. 161,358 shares of the company’s stock traded hands, compared to its average volume of 7,073,850. The stock’s 50 day simple moving average is $80.17 and its two-hundred day simple moving average is $85.93. Morgan Stanley has a 52-week low of $72.05 and a 52-week high of $109.73. The stock has a market cap of $155.85 billion, a PE ratio of 12.41, a PEG ratio of 1.72 and a beta of 1.41. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 2.38.

Morgan Stanley (NYSE:MSGet Rating) last announced its quarterly earnings data on Thursday, July 14th. The financial services provider reported $1.39 earnings per share for the quarter, missing the consensus estimate of $1.71 by ($0.32). Morgan Stanley had a net margin of 22.76% and a return on equity of 14.33%. The firm had revenue of $13.13 billion for the quarter, compared to the consensus estimate of $13.50 billion. During the same period last year, the company posted $1.89 earnings per share. Morgan Stanley’s revenue for the quarter was down 11.0% on a year-over-year basis. On average, analysts forecast that Morgan Stanley will post 6.69 earnings per share for the current fiscal year.

Morgan Stanley declared that its Board of Directors has authorized a stock repurchase plan on Monday, June 27th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 14.8% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Morgan Stanley Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 15th. Shareholders of record on Friday, July 29th were issued a dividend of $0.775 per share. This represents a $3.10 annualized dividend and a yield of 3.41%. This is a positive change from Morgan Stanley’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Thursday, July 28th. Morgan Stanley’s dividend payout ratio is 41.89%.

About Morgan Stanley

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Morgan Stanley, a financial holding company, provides various financial products and services to corporations, governments, financial institutions, and individuals in the Americas, Europe, the Middle East, Africa, and Asia. It operates through Institutional Securities, Wealth Management, and Investment Management segments.

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Institutional Ownership by Quarter for Morgan Stanley (NYSE:MS)

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