Duncker Streett & Co. Inc. decreased its position in shares of Morgan Stanley (NYSE:MS) by 0.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,907 shares of the financial services provider’s stock after selling 12 shares during the period. Duncker Streett & Co. Inc.’s holdings in Morgan Stanley were worth $620,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of MS. Invictus RG purchased a new position in shares of Morgan Stanley during the first quarter valued at $106,000. V Wealth Management LLC purchased a new position in shares of Morgan Stanley during the second quarter valued at $106,000. FTB Advisors Inc. increased its position in shares of Morgan Stanley by 8.1% in the first quarter. FTB Advisors Inc. now owns 2,605 shares of the financial services provider’s stock valued at $112,000 after buying an additional 196 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in shares of Morgan Stanley during the first quarter valued at $120,000. Finally, Adirondack Trust Co. increased its position in shares of Morgan Stanley by 2.5% in the first quarter. Adirondack Trust Co. now owns 2,824 shares of the financial services provider’s stock valued at $121,000 after buying an additional 70 shares in the last quarter. 85.65% of the stock is owned by hedge funds and other institutional investors.
Shares of Morgan Stanley (NYSE:MS) traded up 0.90% during trading on Tuesday, reaching $47.32. 3,315,199 shares of the company’s stock were exchanged. The company has a 50 day moving average of $45.54 and a 200 day moving average of $44.12. The stock has a market cap of $87.07 billion, a P/E ratio of 13.55 and a beta of 1.62. Morgan Stanley has a 12-month low of $27.79 and a 12-month high of $48.04.
Morgan Stanley (NYSE:MS) last released its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.11. The business had revenue of $9.50 billion for the quarter, compared to the consensus estimate of $9.05 billion. Morgan Stanley had a net margin of 16.77% and a return on equity of 9.86%. The business’s revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.75 EPS. Equities research analysts anticipate that Morgan Stanley will post $3.52 EPS for the current year.
Morgan Stanley announced that its Board of Directors has authorized a stock repurchase program on Wednesday, June 28th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 6.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.13%. This is an increase from Morgan Stanley’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, July 27th. Morgan Stanley’s payout ratio is 28.65%.
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MS has been the subject of several recent analyst reports. Instinet reaffirmed a “buy” rating and issued a $50.00 target price (down previously from $51.00) on shares of Morgan Stanley in a report on Saturday, June 3rd. Zacks Investment Research downgraded shares of Morgan Stanley from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. HSBC Holdings plc reaffirmed a “neutral” rating and issued a $45.00 target price on shares of Morgan Stanley in a report on Tuesday, April 25th. Vetr downgraded shares of Morgan Stanley from a “hold” rating to a “sell” rating and set a $40.50 target price for the company. in a report on Wednesday, April 19th. Finally, Buckingham Research reaffirmed a “buy” rating and issued a $54.00 target price (up previously from $51.00) on shares of Morgan Stanley in a report on Monday, July 10th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Morgan Stanley currently has an average rating of “Buy” and an average price target of $47.61.
In related news, Chairman James P. Gorman sold 212,365 shares of the company’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $42.93, for a total transaction of $9,116,829.45. Following the sale, the chairman now directly owns 1,389,378 shares of the company’s stock, valued at approximately $59,645,997.54. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Jonathan Pruzan sold 25,767 shares of the company’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $46.68, for a total transaction 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 disclosure for this sale can be found here. 0.24% of the stock is currently owned by 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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