Morgan Stanley (MS) Position Maintained by Mitsubishi UFJ Financial Group Inc.
Mitsubishi UFJ Financial Group Inc. continued to hold its stake in Morgan Stanley (NYSE:MS) during the second quarter, according to its most recent disclosure with the SEC. The firm owned 432,017,152 shares of the financial services provider’s stock at the end of the second quarter. Morgan Stanley accounts for approximately 100.0% of Mitsubishi UFJ Financial Group Inc.’s portfolio, making the stock its largest position. Mitsubishi UFJ Financial Group Inc. owned about 23.52% of Morgan Stanley worth $19,250,684,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. IFP Advisors Inc raised its position in Morgan Stanley by 76.6% in the first quarter. IFP Advisors Inc now owns 26,951 shares of the financial services provider’s stock worth $1,155,000 after buying an additional 11,688 shares during the period. Russell Investments Group Ltd. raised its position in shares of Morgan Stanley by 19.5% in the first quarter. Russell Investments Group Ltd. now owns 1,954,190 shares of the financial services provider’s stock valued at $83,723,000 after buying an additional 318,720 shares during the last quarter. State of New Jersey Common Pension Fund D raised its position in shares of Morgan Stanley by 22.2% in the first quarter. State of New Jersey Common Pension Fund D now owns 1,650,000 shares of the financial services provider’s stock valued at $70,686,000 after buying an additional 300,000 shares during the last quarter. New Jersey Better Educational Savings Trust acquired a new position in shares of Morgan Stanley during the first quarter valued at about $428,000. Finally, Sumitomo Life Insurance Co. raised its position in shares of Morgan Stanley by 5.1% in the first quarter. Sumitomo Life Insurance Co. now owns 80,585 shares of the financial services provider’s stock valued at $3,452,000 after buying an additional 3,918 shares during the last quarter. 85.47% of the stock is owned by institutional investors.
Shares of Morgan Stanley (NYSE MS) traded down 0.13% during mid-day trading on Friday, reaching $45.94. The company had a trading volume of 5,659,431 shares. The firm has a 50-day moving average of $46.35 and a 200-day moving average of $44.56. Morgan Stanley has a 12-month low of $30.62 and a 12-month high of $48.90. The company has a market capitalization of $84.37 billion, a P/E ratio of 13.16 and a beta of 1.63.
Morgan Stanley (NYSE:MS) last issued its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.87 earnings per share (EPS) 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 business had revenue of $9.50 billion for the quarter, compared to analyst estimates of $9.05 billion. During the same quarter in the prior year, the business posted $0.75 EPS. Morgan Stanley’s revenue for the quarter was up 6.7% compared to the same quarter last year. On average, equities analysts anticipate that Morgan Stanley will post $3.50 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st were paid a $0.25 dividend. The ex-dividend date was Thursday, July 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.18%. This is a positive change from Morgan Stanley’s previous quarterly dividend of $0.20. Morgan Stanley’s dividend payout ratio is presently 28.65%.
Morgan Stanley declared that its board has initiated a stock buyback 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 purchase up to 6.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
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MS has been the topic of several recent analyst reports. BMO Capital Markets lifted their price target on Morgan Stanley from $58.00 to $61.00 and gave the company an “outperform” rating in a research note on Thursday, July 20th. Instinet reiterated a “buy” rating and issued a $50.00 price target (down previously from $51.00) on shares of Morgan Stanley in a research note on Saturday, June 3rd. Buckingham Research reiterated a “buy” rating and issued a $54.00 price target (up previously from $51.00) on shares of Morgan Stanley in a research note on Monday, July 10th. Zacks Investment Research lowered Morgan Stanley from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Finally, Macquarie reiterated an “outperform” rating and issued a $52.00 price target (up previously from $51.00) on shares of Morgan Stanley in a research note on Saturday, July 22nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, fifteen have given 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 target price of $48.57.
In related news, CFO Jonathan Pruzan sold 25,767 shares of the 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 directly owns 196,708 shares of the company’s stock, valued at $9,182,329.44. The sale 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 the 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 $75,739,301.34. The disclosure for this sale can be found here. 0.35% of the stock is owned by corporate 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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