Chevy Chase Trust Holdings Inc. reduced its stake in shares of Morgan Stanley (NYSE:MS) by 0.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,347,456 shares of the financial services provider’s stock after selling 10,083 shares during the period. Chevy Chase Trust Holdings Inc. owned about 0.07% of Morgan Stanley worth $60,044,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in MS. Lee Danner & Bass Inc. raised its stake in shares of Morgan Stanley by 0.3% in the first quarter. Lee Danner & Bass Inc. now owns 8,685 shares of the financial services provider’s stock valued at $372,000 after buying an additional 22 shares during the last quarter. Guardian Life Insurance Co. of America raised its stake in shares of Morgan Stanley by 0.5% in the first quarter. Guardian Life Insurance Co. of America now owns 5,551 shares of the financial services provider’s stock valued at $238,000 after buying an additional 25 shares during the last quarter. First Citizens Bank & Trust Co. raised its stake in shares of Morgan Stanley by 0.4% in the first quarter. First Citizens Bank & Trust Co. now owns 9,488 shares of the financial services provider’s stock valued at $406,000 after buying an additional 34 shares during the last quarter. Park National Corp OH raised its stake in shares of Morgan Stanley by 1.0% in the first quarter. Park National Corp OH now owns 6,557 shares of the financial services provider’s stock valued at $281,000 after buying an additional 65 shares during the last quarter. Finally, Adirondack Trust Co. raised its stake 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 during the last quarter. 85.47% of the stock is currently owned by institutional investors.
Morgan Stanley (NYSE MS) traded up 0.38% during mid-day trading on Friday, reaching $45.26. 2,056,294 shares of the company were exchanged. The stock’s 50-day moving average is $46.36 and its 200-day moving average is $44.46. Morgan Stanley has a 12 month low of $30.26 and a 12 month high of $48.90. The company has a market cap of $83.12 billion, a P/E ratio of 12.96 and a beta of 1.63.
Morgan Stanley (NYSE:MS) last posted its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.11. Morgan Stanley had a return on equity of 9.83% and a net margin of 16.77%. The company had revenue of $9.50 billion during the quarter, compared to the consensus estimate of $9.05 billion. During the same period last year, the business earned $0.75 EPS. The business’s quarterly revenue was up 6.7% on a year-over-year basis. Equities analysts expect that Morgan Stanley will post $3.50 earnings per share for the current year.
Morgan Stanley declared that its Board of Directors has authorized a share buyback plan on Wednesday, June 28th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 6.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, July 27th. This is an increase from Morgan Stanley’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.22%. Morgan Stanley’s dividend payout ratio (DPR) is 28.65%.
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Several equities research analysts recently commented on MS shares. Zacks Investment Research upgraded shares of Morgan Stanley from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Tuesday, June 13th. BMO Capital Markets boosted their price objective on shares of Morgan Stanley from $58.00 to $61.00 and gave the stock an “outperform” rating in a research report on Thursday, July 20th. Vetr upgraded shares of Morgan Stanley from a “sell” rating to a “hold” rating and set a $40.50 price objective on the stock in a research report on Wednesday, May 17th. Royal Bank Of Canada reiterated a “buy” rating and issued a $50.00 price objective on shares of Morgan Stanley in a research report on Tuesday, June 6th. Finally, J P Morgan Chase & Co reiterated a “buy” rating and issued a $53.00 price objective on shares of Morgan Stanley in a research report on Monday, June 26th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $48.57.
In other news, CFO Jonathan Pruzan sold 25,767 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 196,708 shares of the company’s stock, valued at approximately $9,182,329.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman James P. Gorman sold 212,366 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $47.26, for a total value of $10,036,417.16. Following the completion of the transaction, the chairman now directly owns 1,602,609 shares in the company, valued at $75,739,301.34. The disclosure for this sale can be found here. 0.35% of the stock is owned by company insiders.
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.
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