J.P. Marvel Investment Advisors LLC Cuts Position in Morgan Stanley (MS)
J.P. Marvel Investment Advisors LLC reduced its stake in Morgan Stanley (NYSE:MS) by 5.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 218,605 shares of the financial services provider’s stock after selling 12,562 shares during the period. Morgan Stanley comprises 3.1% of J.P. Marvel Investment Advisors LLC’s investment portfolio, making the stock its 6th largest position. J.P. Marvel Investment Advisors LLC’s holdings in Morgan Stanley were worth $9,365,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. boosted its position in Morgan Stanley by 2,798.9% in the first quarter. BlackRock Inc. now owns 101,168,197 shares of the financial services provider’s stock valued at $4,334,046,000 after buying an additional 97,678,337 shares during the last quarter. Vanguard Group Inc. boosted its position in Morgan Stanley by 4.9% in the first quarter. Vanguard Group Inc. now owns 92,226,969 shares of the financial services provider’s stock valued at $3,951,003,000 after buying an additional 4,331,723 shares during the last quarter. FMR LLC boosted its position in Morgan Stanley by 16.9% in the first quarter. FMR LLC now owns 46,221,986 shares of the financial services provider’s stock valued at $1,980,150,000 after buying an additional 6,692,676 shares during the last quarter. Geode Capital Management LLC boosted its position in Morgan Stanley by 7.2% in the first quarter. Geode Capital Management LLC now owns 14,456,307 shares of the financial services provider’s stock valued at $618,456,000 after buying an additional 970,041 shares during the last quarter. Finally, Janus Capital Management LLC boosted its position in Morgan Stanley by 32.2% in the first quarter. Janus Capital Management LLC now owns 12,159,681 shares of the financial services provider’s stock valued at $520,921,000 after buying an additional 2,962,234 shares during the last quarter. Hedge funds and other institutional investors own 85.67% of the company’s stock.
Morgan Stanley (NYSE:MS) opened at 47.93 on Wednesday. The stock’s 50 day moving average is $45.83 and its 200 day moving average is $44.22. The company has a market cap of $88.19 billion, a P/E ratio of 13.73 and a beta of 1.63. Morgan Stanley has a 12-month low of $28.86 and a 12-month high of $48.90. Morgan Stanley also was the target of unusually large options trading activity on Monday. Stock traders bought 6,765 call options on the company. This is an increase of 381% compared to the typical daily volume of 1,407 call options.
Morgan Stanley (NYSE:MS) last released its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.11. Morgan Stanley had a net margin of 16.77% and a return on equity of 9.83%. The business had revenue of $9.50 billion for the quarter, compared to analyst estimates of $9.05 billion. During the same period last year, the firm earned $0.75 earnings per share. Morgan Stanley’s revenue for the quarter was up 6.7% compared to the same quarter last year. On average, equities analysts forecast that Morgan Stanley will post $3.52 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 31st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.09%. This is a positive change from Morgan Stanley’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, July 27th. Morgan Stanley’s dividend payout ratio (DPR) is currently 28.65%.
Morgan Stanley announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, June 28th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 6.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.
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MS has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of Morgan Stanley from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a research report on Thursday, May 18th. Rafferty Capital Markets reiterated a “buy” rating and set a $50.00 price objective on shares of Morgan Stanley in a research report on Saturday, April 22nd. J P Morgan Chase & Co reissued a “buy” rating on shares of Morgan Stanley in a research note on Tuesday, May 23rd. Instinet reissued a “buy” rating and set a $50.00 target price (down previously from $51.00) on shares of Morgan Stanley in a research note on Saturday, June 3rd. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $50.00 target price on shares of Morgan Stanley in a research note on Tuesday, June 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $47.61.
In other Morgan Stanley news, CFO Jonathan Pruzan sold 25,767 shares of the firm’s stock in a transaction dated Thursday, July 20th. The shares were 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 directly owns 196,708 shares of the company’s stock, valued at approximately $9,182,329.44. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman James P. Gorman sold 212,366 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $47.26, for a total transaction 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. 0.24% of the stock is owned by company 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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