Canada Pension Plan Investment Board increased its position in shares of Morgan Stanley (NYSE:MS) by 96.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,989,019 shares of the financial services provider’s stock after buying an additional 1,953,808 shares during the period. Canada Pension Plan Investment Board owned 0.21% of Morgan Stanley worth $309,787,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Evercore Wealth Management LLC boosted its holdings in shares of Morgan Stanley by 0.6% during the 1st quarter. Evercore Wealth Management LLC now owns 1,291,802 shares of the financial services provider’s stock worth $100,321,000 after buying an additional 7,187 shares during the period. Janus Henderson Group PLC grew its holdings in Morgan Stanley by 12.3% in the 1st quarter. Janus Henderson Group PLC now owns 14,006,538 shares of the financial services provider’s stock valued at $1,087,752,000 after buying an additional 1,530,364 shares during the last quarter. Baird Financial Group Inc. grew its holdings in Morgan Stanley by 10.0% in the 1st quarter. Baird Financial Group Inc. now owns 39,442 shares of the financial services provider’s stock valued at $3,063,000 after buying an additional 3,593 shares during the last quarter. IndexIQ Advisors LLC grew its holdings in Morgan Stanley by 14.4% in the 1st quarter. IndexIQ Advisors LLC now owns 22,843 shares of the financial services provider’s stock valued at $1,774,000 after buying an additional 2,881 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in Morgan Stanley by 1.8% in the 1st quarter. Nisa Investment Advisors LLC now owns 603,140 shares of the financial services provider’s stock valued at $46,840,000 after buying an additional 10,398 shares during the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.
In other Morgan Stanley news, insider Andrew M. Saperstein sold 11,465 shares of the firm’s stock in a transaction that occurred on Friday, July 16th. The shares were sold at an average price of $92.97, for a total value of $1,065,901.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.23% of the company’s stock.
Morgan Stanley (NYSE:MS) last released its earnings results on Wednesday, July 14th. The financial services provider reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.22. The company had revenue of $14.76 billion during the quarter, compared to the consensus estimate of $13.99 billion. Morgan Stanley had a return on equity of 15.22% and a net margin of 23.89%. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.96 earnings per share. Equities research analysts predict that Morgan Stanley will post 7.42 earnings per share for the current fiscal year.
Morgan Stanley declared that its Board of Directors has initiated a share buyback plan on Monday, June 28th that permits the company to buyback $12.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 7.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 13th. Investors of record on Friday, July 30th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.93%. This is an increase from Morgan Stanley’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Thursday, July 29th. Morgan Stanley’s payout ratio is 21.28%.
Several research firms have recently issued reports on MS. UBS Group boosted their price objective on shares of Morgan Stanley from $84.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, April 1st. BMO Capital Markets boosted their price objective on shares of Morgan Stanley from $97.00 to $103.00 and gave the stock an “outperform” rating in a report on Friday, July 16th. Barclays upped their target price on Morgan Stanley from $95.00 to $98.00 and gave the company an “overweight” rating in a research note on Wednesday, April 7th. Jefferies Financial Group assumed coverage on Morgan Stanley in a research note on Friday, July 16th. They issued a “buy” rating and a $108.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Morgan Stanley from $68.00 to $79.00 and gave the company a “hold” rating in a research note on Thursday, April 1st. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Morgan Stanley currently has an average rating of “Buy” and a consensus price target of $95.74.
Morgan Stanley Company Profile
Morgan Stanley operates as a global financial services company. The firm provides investment banking products and services to its clients and customers including corporations, governments, financial institutions, and individuals. It operates through the following segments: Institutional Securities, Wealth Management, and Investment Management.
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