Peoples Bank OH continued to hold its position in Morgan Stanley (NYSE:MS) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,313 shares of the financial services provider’s stock at the end of the second quarter. Peoples Bank OH’s holdings in Morgan Stanley were worth $281,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of MS. Parkside Financial Bank & Trust increased its stake in 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 period. V Wealth Management LLC bought a new stake in Morgan Stanley during the second quarter worth approximately $106,000. Invictus RG bought a new stake in Morgan Stanley during the first quarter worth approximately $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 worth $112,000 after buying an additional 196 shares during the period. Finally, State of Alaska Department of Revenue bought a new stake in Morgan Stanley during the first quarter worth approximately $120,000. 85.47% of the stock is owned by hedge funds and other institutional investors.
Shares of Morgan Stanley (MS) traded up 0.67% on Friday, reaching $45.39. 7,284,026 shares of the company were exchanged. The stock has a 50 day moving average price of $46.38 and a 200-day moving average price of $44.47. The stock has a market capitalization of $83.36 billion, a P/E ratio of 13.00 and a beta of 1.63. Morgan Stanley has a 12 month low of $30.39 and a 12 month high of $48.90.
Morgan Stanley declared that its board has authorized a stock repurchase plan on Wednesday, June 28th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 6.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, July 27th. This is an increase from Morgan Stanley’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.20%. Morgan Stanley’s dividend payout ratio (DPR) is 28.65%.
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A number of research firms have commented on MS. HSBC Holdings plc set a $54.00 price target on shares of Morgan Stanley and gave the stock a “hold” rating in a research report on Friday, August 11th. Wells Fargo & Company began coverage on shares of Morgan Stanley in a research report on Wednesday, August 9th. They set a “market perform” rating and a $48.00 price target on the stock. Zacks Investment Research upgraded shares of Morgan Stanley from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Macquarie reiterated an “outperform” rating and issued a $52.00 target price (up from $51.00) on shares of Morgan Stanley in a report on Saturday, July 22nd. Finally, Credit Suisse Group reiterated a “neutral” rating and issued a $49.00 target price (up from $47.00) on shares of Morgan Stanley in a report on Saturday, July 22nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $48.57.
In other news, CFO Jonathan Pruzan sold 25,767 shares of Morgan Stanley stock in a transaction that occurred on Thursday, July 20th. The shares were 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 directly owns 196,708 shares in the company, valued at $9,182,329.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $10,036,417.16. Following the completion of the transaction, the chairman now directly 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 owned by company 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.
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