Triangle Securities Wealth Management decreased its position in Morgan Stanley (NYSE:MS) by 4.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,302 shares of the financial services provider’s stock after selling 475 shares during the period. Triangle Securities Wealth Management’s holdings in Morgan Stanley were worth $459,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in MS. Invictus RG acquired a new position in shares of Morgan Stanley during the first quarter worth about $106,000. FTB Advisors Inc. increased its stake in Morgan Stanley by 8.1% in the first quarter. FTB Advisors Inc. now owns 2,605 shares of the financial services provider’s stock valued at $112,000 after buying an additional 196 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in Morgan Stanley during the first quarter valued at $120,000. Adirondack Trust Co. increased its stake in Morgan Stanley by 2.5% in the first quarter. Adirondack Trust Co. now owns 2,824 shares of the financial services provider’s stock valued at $121,000 after buying an additional 70 shares during the last quarter. Finally, First Manhattan Co. increased its stake in Morgan Stanley by 17.0% in the first quarter. First Manhattan Co. now owns 4,294 shares of the financial services provider’s stock valued at $137,000 after buying an additional 624 shares during the last quarter. 85.67% of the stock is owned by hedge funds and other institutional investors.
Shares of Morgan Stanley (NYSE:MS) opened at 45.65 on Friday. Morgan Stanley has a 1-year low of $29.31 and a 1-year high of $48.90. The company’s 50 day moving average price is $46.14 and its 200-day moving average price is $44.39. The firm 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 data 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. The business had revenue of $9.50 billion for the quarter, compared to the consensus estimate of $9.05 billion. Morgan Stanley had a return on equity of 9.83% and a net margin of 16.77%. The firm’s revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.75 EPS. Equities analysts expect that Morgan Stanley will post $3.50 EPS for the current fiscal year.
Morgan Stanley announced that its board has initiated a stock buyback plan on Wednesday, June 28th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 6.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 31st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.19%. The ex-dividend date is Thursday, July 27th. This is an increase from Morgan Stanley’s previous quarterly dividend of $0.20. Morgan Stanley’s dividend payout ratio (DPR) is presently 28.65%.
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Several equities research analysts have recently weighed in on the company. 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. Citigroup Inc. increased their price objective on Morgan Stanley from $44.00 to $46.00 and gave the company a “neutral” rating in a report on Tuesday, April 25th. Vetr raised Morgan Stanley from a “sell” rating to a “hold” rating and set a $40.50 price target for the company in a report on Tuesday, May 23rd. Finally, HSBC Holdings plc set a $54.00 price target on Morgan Stanley and gave the stock a “neutral” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Morgan Stanley has an average rating of “Buy” and an average target price of $48.02.
In related news, CFO Jonathan Pruzan sold 25,767 shares of the firm’s stock in a transaction 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 sale, the chief financial officer now owns 196,708 shares of the company’s stock, valued at approximately $9,182,329.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman James P. Gorman sold 212,366 shares of the firm’s stock in a transaction 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 directly owns 1,602,609 shares in the company, valued at approximately $75,739,301.34. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.
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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