Truvvo Partners LLC acquired a new stake in Morgan Stanley (NYSE:MS) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,623 shares of the financial services provider’s stock, valued at approximately $466,000. Morgan Stanley accounts for about 0.3% of Truvvo Partners LLC’s investment portfolio, making the stock its 27th biggest position.
Several other institutional investors and hedge funds also recently modified their holdings of the company. FMR LLC grew its stake in shares of Morgan Stanley by 7.0% in the first quarter. FMR LLC now owns 25,890,003 shares of the financial services provider’s stock valued at $1,092,558,000 after acquiring an additional 1,687,819 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Morgan Stanley by 6.0% in the fourth quarter. Geode Capital Management LLC now owns 16,970,026 shares of the financial services provider’s stock valued at $671,686,000 after acquiring an additional 956,583 shares in the last quarter. Northern Trust Corp grew its stake in shares of Morgan Stanley by 0.3% in the first quarter. Northern Trust Corp now owns 15,319,050 shares of the financial services provider’s stock valued at $646,464,000 after acquiring an additional 51,672 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Morgan Stanley by 1.7% in the first quarter. The Manufacturers Life Insurance Company now owns 10,427,482 shares of the financial services provider’s stock valued at $440,040,000 after acquiring an additional 177,725 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Morgan Stanley by 12.8% in the second quarter. Janus Henderson Group PLC now owns 8,323,739 shares of the financial services provider’s stock valued at $364,667,000 after acquiring an additional 944,786 shares in the last quarter. 83.65% of the stock is currently owned by institutional investors.
Several equities analysts recently commented on MS shares. TheStreet downgraded shares of Morgan Stanley from a “b” rating to a “c+” rating in a research note on Wednesday, August 14th. BMO Capital Markets set a $69.00 price target on shares of Morgan Stanley and gave the company a “buy” rating in a research note on Friday, July 19th. Citigroup upgraded shares of Morgan Stanley from a “neutral” rating to a “buy” rating and upped their price target for the company from $48.00 to $52.00 in a research note on Friday, July 12th. Finally, Oppenheimer set a $65.00 price target on shares of Morgan Stanley and gave the company a “buy” rating in a research note on Friday, July 19th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $56.45.
Morgan Stanley (NYSE:MS) last announced its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.10. The firm had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $10.02 billion. Morgan Stanley had a net margin of 16.06% and a return on equity of 11.04%. The business’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.30 earnings per share. On average, analysts expect that Morgan Stanley will post 4.79 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 3.10%. This is an increase from Morgan Stanley’s previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, July 30th. Morgan Stanley’s dividend payout ratio is presently 30.37%.
Morgan Stanley Profile
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. The company operates through Institutional Securities, Wealth Management, and Investment Management segments.
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