Marshall Wace North America L.P. Takes Position in Morgan Stanley (NYSE:MS)
Marshall Wace North America L.P. bought a new stake in Morgan Stanley (NYSE:MS) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 127,697 shares of the financial services provider’s stock, valued at approximately $5,491,000.
Several other large investors also recently modified their holdings of MS. Castleark Management LLC bought a new stake in shares of Morgan Stanley during the fourth quarter valued at $32,943,000. Independent Advisor Alliance acquired a new position in shares of Morgan Stanley during the fourth quarter worth approximately $208,000. IFM Investors Pty Ltd acquired a new position in shares of Morgan Stanley during the fourth quarter worth approximately $779,000. Pittenger & Anderson Inc. increased its position in shares of Morgan Stanley by 18.2% in the fourth quarter. Pittenger & Anderson Inc. now owns 71,840 shares of the financial services provider’s stock worth $3,035,000 after buying an additional 11,050 shares in the last quarter. Finally, Putnam Investments LLC increased its position in shares of Morgan Stanley by 5.5% in the fourth quarter. Putnam Investments LLC now owns 6,425,141 shares of the financial services provider’s stock worth $271,462,000 after buying an additional 335,702 shares in the last quarter. 85.65% of the stock is owned by institutional investors.
Shares of Morgan Stanley (MS) traded down 0.15% during midday trading on Thursday, hitting $47.26. The stock had a trading volume of 6,479,278 shares. The firm has a market capitalization of $86.96 billion, a PE ratio of 13.54 and a beta of 1.63. Morgan Stanley has a 1-year low of $27.95 and a 1-year high of $48.04. The company’s 50 day moving average price is $45.61 and its 200-day moving average price is $44.14.
Morgan Stanley (NYSE:MS) last posted its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.11. Morgan Stanley had a net margin of 16.77% and a return on equity of 9.86%. The company had revenue of $9.50 billion for the quarter, compared to analyst estimates of $9.05 billion. During the same quarter in the previous year, the firm posted $0.75 earnings per share. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. Equities analysts predict that Morgan Stanley will post $3.52 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 31st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Thursday, July 27th. This is a positive change from Morgan Stanley’s previous quarterly dividend of $0.20. Morgan Stanley’s dividend payout ratio is 28.65%.
Morgan Stanley announced that its Board of Directors has authorized a stock buyback plan on Wednesday, June 28th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the financial services provider to buy up to 6.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.
MS has been the topic of several research reports. Zacks Investment Research upgraded Morgan Stanley from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Tuesday, June 13th. BMO Capital Markets upped their price objective on Morgan Stanley from $58.00 to $61.00 and gave the company an “outperform” rating in a research note on Thursday, July 20th. Vetr upgraded Morgan Stanley from a “sell” rating to a “hold” rating and set a $40.50 price objective on the stock in a research note on Wednesday, May 17th. Royal Bank Of Canada restated a “buy” rating and set a $50.00 price objective on shares of Morgan Stanley in a research note on Tuesday, June 6th. Finally, J P Morgan Chase & Co reiterated a “buy” rating and set a $53.00 price target on shares of Morgan Stanley in a research report on Monday, June 26th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $47.61.
In other news, Chairman James P. Gorman sold 212,365 shares of the company’s stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $42.93, for a total value of $9,116,829.45. Following the completion of the sale, the chairman now owns 1,389,378 shares of the company’s stock, valued at approximately $59,645,997.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jonathan Pruzan sold 25,767 shares of the company’s stock in a transaction on Thursday, July 20th. The shares were 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 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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