Fox Run Management L.L.C. Cuts Stake in Morgan Stanley (MS)

Fox Run Management L.L.C. lessened its position in shares of Morgan Stanley (NYSE:MS) by 47.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,200 shares of the financial services provider’s stock after selling 6,400 shares during the quarter. Fox Run Management L.L.C.’s holdings in Morgan Stanley were worth $347,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Rothschild Asset Management Inc. bought a new stake in Morgan Stanley in the first quarter valued at about $26,920,000. Ngam Advisors L.P. increased its holdings in Morgan Stanley by 12.9% in the first quarter. Ngam Advisors L.P. now owns 380,253 shares of the financial services provider’s stock valued at $16,290,000 after purchasing an additional 43,471 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in Morgan Stanley by 753.1% in the first quarter. Teacher Retirement System of Texas now owns 1,026,863 shares of the financial services provider’s stock valued at $43,991,000 after purchasing an additional 906,500 shares during the last quarter. Financial Counselors Inc. bought a new stake in Morgan Stanley in the first quarter valued at about $254,000. Finally, Massachusetts Financial Services Co. MA increased its holdings in Morgan Stanley by 64.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 11,162,183 shares of the financial services provider’s stock valued at $478,188,000 after purchasing an additional 4,380,706 shares during the last quarter. 85.09% of the stock is currently owned by institutional investors and hedge funds.

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

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

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Tuesday, October 31st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Monday, October 30th. Morgan Stanley’s dividend payout ratio is currently 27.70%.

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A number of equities research analysts recently commented on the company. HSBC Holdings plc set a $54.00 price objective on Morgan Stanley and gave the company a “hold” rating in a report on Friday, August 11th. Zacks Investment Research upgraded Morgan Stanley from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Macquarie reiterated an “outperform” rating and issued a $52.00 price objective (up previously from $51.00) on shares of Morgan Stanley in a report on Saturday, July 22nd. J P Morgan Chase & Co set a $53.00 price objective on Morgan Stanley and gave the company a “buy” rating in a report on Friday, September 15th. Finally, Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Morgan Stanley in a report on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. Morgan Stanley has a consensus rating of “Buy” and an average target price of $50.39.

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.

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

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