Morgan Stanley (MS) Shares Bought by First National Trust Co.
First National Trust Co. raised its position in Morgan Stanley (NYSE:MS) by 4.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 24,754 shares of the financial services provider’s stock after buying an additional 1,061 shares during the period. First National Trust Co.’s holdings in Morgan Stanley were worth $1,103,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of MS. Davidson Investment Advisors increased its position in shares of Morgan Stanley by 2.6% in the first quarter. Davidson Investment Advisors now owns 291,525 shares of the financial services provider’s stock worth $12,486,000 after buying an additional 7,462 shares during the period. Westpac Banking Corp increased its position in Morgan Stanley by 28.5% in the first quarter. Westpac Banking Corp now owns 330,925 shares of the financial services provider’s stock valued at $9,425,000 after buying an additional 73,424 shares during the last quarter. SG Americas Securities LLC increased its position in Morgan Stanley by 113.2% in the first quarter. SG Americas Securities LLC now owns 206,426 shares of the financial services provider’s stock valued at $8,843,000 after buying an additional 1,773,467 shares during the last quarter. Bank of Nova Scotia increased its position in Morgan Stanley by 464.6% in the first quarter. Bank of Nova Scotia now owns 351,773 shares of the financial services provider’s stock valued at $15,070,000 after buying an additional 448,250 shares during the last quarter. Finally, Tredje AP fonden increased its position in Morgan Stanley by 6.1% in the first quarter. Tredje AP fonden now owns 122,780 shares of the financial services provider’s stock valued at $5,260,000 after buying an additional 7,044 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.
Shares of Morgan Stanley (NYSE MS) opened at 45.80 on Thursday. The stock has a 50 day moving average price of $46.36 and a 200 day moving average price of $44.54. Morgan Stanley has a one year low of $30.62 and a one year high of $48.90. The stock has a market capitalization of $84.12 billion, a P/E ratio of 13.12 and a beta of 1.63. Morgan Stanley also saw some unusual options trading activity on Monday. Investors acquired 6,765 call options on the company. This represents an increase of approximately 381% compared to the average volume of 1,407 call options.
Morgan Stanley (NYSE:MS) last announced its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.87 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.11. Morgan Stanley had a net margin of 16.77% and a return on equity of 9.83%. The company had revenue of $9.50 billion for the quarter, compared to analyst estimates of $9.05 billion. During the same quarter last year, the business earned $0.75 EPS. Morgan Stanley’s revenue for the quarter was up 6.7% on a year-over-year basis. Equities analysts forecast that Morgan Stanley will post $3.50 earnings per share for the current year.
Morgan Stanley declared that its board has approved a stock buyback plan on Wednesday, June 28th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the financial services provider to repurchase 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 stock is undervalued.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend was Thursday, July 27th. This is an increase from Morgan Stanley’s previous quarterly dividend of $0.20. Morgan Stanley’s dividend payout ratio (DPR) is currently 28.65%.
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Several research firms have recently weighed in on MS. HSBC Holdings plc set a $54.00 price target on Morgan Stanley and gave the stock a “hold” rating in a research note on Friday, August 11th. Wells Fargo & Company initiated coverage on Morgan Stanley in a research note on Wednesday, August 9th. They issued a “market perform” rating and a $48.00 target price for the company. Zacks Investment Research upgraded Morgan Stanley from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Macquarie restated an “outperform” rating and issued a $52.00 target price (up previously from $51.00) on shares of Morgan Stanley in a research note on Saturday, July 22nd. Finally, Credit Suisse Group restated a “neutral” rating and issued a $49.00 target price (up previously from $47.00) on shares of Morgan Stanley in a research note on Saturday, July 22nd. One analyst has rated the stock with a sell rating, nine have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $48.57.
In related news, CFO Jonathan Pruzan sold 25,767 shares of Morgan Stanley 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 sale, the chief financial officer now 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 Securities & Exchange Commission, which is accessible through this link. Also, Chairman James P. Gorman sold 212,366 shares of Morgan Stanley stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $47.26, for a total transaction of $10,036,417.16. Following the sale, the chairman now directly owns 1,602,609 shares in the company, valued at approximately $75,739,301.34. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.
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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