Summit Securities Group LLC Sells 2,433 Shares of Morgan Stanley (MS)

Summit Securities Group LLC lessened its holdings in shares of Morgan Stanley (NYSE:MS) by 27.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,400 shares of the financial services provider’s stock after selling 2,433 shares during the period. Summit Securities Group LLC’s holdings in Morgan Stanley were worth $308,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of Morgan Stanley by 1.0% during the second quarter. BlackRock Inc. now owns 102,137,658 shares of the financial services provider’s stock worth $4,551,254,000 after purchasing an additional 969,461 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Morgan Stanley by 1.4% during the second quarter. Vanguard Group Inc. now owns 93,483,287 shares of the financial services provider’s stock worth $4,165,615,000 after purchasing an additional 1,256,318 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Morgan Stanley by 3.2% during the second quarter. Ameriprise Financial Inc. now owns 20,973,434 shares of the financial services provider’s stock worth $934,569,000 after purchasing an additional 654,034 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Morgan Stanley by 7.2% during the first quarter. Geode Capital Management LLC now owns 14,456,307 shares of the financial services provider’s stock worth $618,456,000 after purchasing an additional 970,041 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Morgan Stanley by 24.5% during the second quarter. The Manufacturers Life Insurance Company now owns 12,326,657 shares of the financial services provider’s stock worth $549,275,000 after purchasing an additional 2,427,130 shares during the period. Institutional investors own 85.09% of the company’s stock.

Morgan Stanley (NYSE:MS) last released its quarterly earnings data on Tuesday, October 17th. The financial services provider reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.12. The business had revenue of $9.20 billion during the quarter, compared to analyst estimates of $9.05 billion. Morgan Stanley had a net margin of 16.76% and a return on equity of 10.11%. Morgan Stanley’s revenue was up 3.2% compared to the same quarter last year. During the same period last year, the business earned $0.80 EPS.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Tuesday, October 31st will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, October 30th. This represents a $1.00 dividend on an annualized basis and a yield of 2.00%. Morgan Stanley’s dividend payout ratio is currently 27.70%.

A number of brokerages have recently commented on MS. Zacks Investment Research upgraded shares of Morgan Stanley from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a report on Friday, October 20th. HSBC Holdings plc set a $54.00 target price on shares of Morgan Stanley and gave the company a “hold” rating in a report on Friday, August 11th. Credit Suisse Group restated a “neutral” rating and issued a $49.00 target price (up previously from $47.00) on shares of Morgan Stanley in a report on Saturday, July 22nd. Buckingham Research boosted their target price on shares of Morgan Stanley from $54.00 to $57.00 and gave the company a “buy” rating in a report on Wednesday, October 18th. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Morgan Stanley in a report on Tuesday, October 17th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $50.39.

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In other news, President Thomas Colm Kelleher sold 40,000 shares of Morgan Stanley stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $50.59, for a total value of $2,023,600.00. Following the completion of the sale, the president now directly owns 692,037 shares in the company, valued at $35,010,151.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeffrey S. Brodsky sold 16,397 shares of Morgan Stanley stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of $50.07, for a total transaction of $820,997.79. Following the completion of the sale, the insider now owns 111,776 shares of the company’s stock, valued at $5,596,624.32. The disclosure for this sale can be found here. 0.35% of the stock is currently 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.

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

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