FSI Group LLC continued to hold its position in shares of Morgan Stanley (NYSE:MS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 78,000 shares of the financial services provider’s stock at the end of the second quarter. Morgan Stanley comprises 1.9% of FSI Group LLC’s holdings, making the stock its 16th largest position. FSI Group LLC’s holdings in Morgan Stanley were worth $3,476,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Robeco Institutional Asset Management B.V. increased its position in shares of Morgan Stanley by 22.5% in the second quarter. Robeco Institutional Asset Management B.V. now owns 346,677 shares of the financial services provider’s stock worth $15,449,000 after buying an additional 63,755 shares during the last quarter. Canandaigua National Bank & Trust Co. increased its position in shares of Morgan Stanley by 6.3% in the second quarter. Canandaigua National Bank & Trust Co. now owns 31,977 shares of the financial services provider’s stock worth $1,425,000 after buying an additional 1,908 shares during the last quarter. Intrust Bank NA bought a new position in shares of Morgan Stanley during the second quarter worth about $210,000. Prudential Financial Inc. increased its position in shares of Morgan Stanley by 2.2% in the second quarter. Prudential Financial Inc. now owns 3,583,009 shares of the financial services provider’s stock worth $159,658,000 after buying an additional 78,160 shares during the last quarter. Finally, Parallel Advisors LLC increased its position in shares of Morgan Stanley by 15.8% in the second quarter. Parallel Advisors LLC now owns 5,690 shares of the financial services provider’s stock worth $267,000 after buying an additional 776 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.
Shares of Morgan Stanley (NYSE MS) traded down 0.13% during trading on Friday, reaching $45.94. The company’s stock had a trading volume of 5,659,431 shares. The stock has a market capitalization of $84.37 billion, a PE ratio of 13.16 and a beta of 1.63. The firm’s 50-day moving average is $46.35 and its 200-day moving average is $44.56. Morgan Stanley has a 12-month low of $30.62 and a 12-month high of $48.90.
Morgan Stanley (NYSE:MS) last released its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.11. Morgan Stanley had a return on equity of 9.83% and a net margin of 16.77%. The business had revenue of $9.50 billion for the quarter, compared to the consensus estimate of $9.05 billion. During the same quarter in the prior year, the business posted $0.75 EPS. The business’s revenue for the quarter 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 has approved a share repurchase plan on Wednesday, June 28th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 6.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, July 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.18%. This is an increase from Morgan Stanley’s previous quarterly dividend of $0.20. Morgan Stanley’s dividend payout ratio is presently 28.65%.
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A number of brokerages have issued reports on MS. HSBC Holdings plc set a $54.00 price objective on shares of Morgan Stanley and gave the company a “hold” rating in a research report on Friday, August 11th. Wells Fargo & Company began coverage on shares of Morgan Stanley in a report on Wednesday, August 9th. They set a “market perform” rating and a $48.00 target price on the stock. Zacks Investment Research upgraded shares of Morgan Stanley from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Macquarie restated an “outperform” rating and set a $52.00 target price (up previously from $51.00) on shares of Morgan Stanley in a report on Saturday, July 22nd. Finally, Credit Suisse Group restated a “neutral” rating and set a $49.00 target price (up previously from $47.00) on shares of Morgan Stanley in a report on Saturday, July 22nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $48.57.
In other news, CFO Jonathan Pruzan sold 25,767 shares of the stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $46.68, for a total value of $1,202,803.56. Following the transaction, the chief financial officer now owns 196,708 shares in the company, valued at approximately $9,182,329.44. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman James P. Gorman sold 212,366 shares of the stock in a transaction dated 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 owns 1,602,609 shares in the company, valued at approximately $75,739,301.34. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.
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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