Morgan Stanley (MS) Shares Sold by Mitsubishi UFJ Trust & Banking Corp
Mitsubishi UFJ Trust & Banking Corp reduced its stake in shares of Morgan Stanley (NYSE:MS) by 0.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,807,915 shares of the financial services provider’s stock after selling 20,905 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.15% of Morgan Stanley worth $125,121,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the stock. Lee Danner & Bass Inc. raised its stake in shares of Morgan Stanley by 0.3% in the first quarter. Lee Danner & Bass Inc. now owns 8,685 shares of the financial services provider’s stock valued at $372,000 after buying an additional 22 shares during the period. Guardian Life Insurance Co. of America raised its stake in shares of Morgan Stanley by 0.5% in the first quarter. Guardian Life Insurance Co. of America now owns 5,551 shares of the financial services provider’s stock valued at $238,000 after buying an additional 25 shares during the period. First Citizens Bank & Trust Co. raised its stake in shares of Morgan Stanley by 0.4% in the first quarter. First Citizens Bank & Trust Co. now owns 9,488 shares of the financial services provider’s stock valued at $406,000 after buying an additional 34 shares during the period. Smithfield Trust Co. raised its stake in shares of Morgan Stanley by 1.2% in the second quarter. Smithfield Trust Co. now owns 3,690 shares of the financial services provider’s stock valued at $164,000 after buying an additional 42 shares during the period. Finally, Savant Capital LLC raised its stake in shares of Morgan Stanley by 0.8% in the first quarter. Savant Capital LLC now owns 9,677 shares of the financial services provider’s stock valued at $415,000 after buying an additional 77 shares during the period. Hedge funds and other institutional investors own 85.47% of the company’s stock.
Morgan Stanley (NYSE MS) opened at 45.94 on Friday. The firm has a market capitalization of $84.37 billion, a P/E ratio of 13.16 and a beta of 1.63. The stock’s 50 day moving average price is $46.35 and its 200-day moving average price 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 issued its quarterly earnings data 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. The firm had revenue of $9.50 billion for the quarter, compared to analyst estimates of $9.05 billion. Morgan Stanley had a net margin of 16.77% and a return on equity of 9.83%. Morgan Stanley’s revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.75 EPS. On average, analysts forecast that Morgan Stanley will post $3.50 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Monday, July 31st were issued a $0.25 dividend. This is a positive change from Morgan Stanley’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend was Thursday, July 27th. Morgan Stanley’s payout ratio is 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 repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 6.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
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Several brokerages recently 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 report on Friday, August 11th. Vetr upgraded shares of Morgan Stanley from a “sell” rating to a “hold” rating and set a $40.50 price objective on the stock in a report on Wednesday, May 17th. Macquarie restated an “outperform” rating and issued a $52.00 price objective (up from $51.00) on shares of Morgan Stanley in a report on Saturday, July 22nd. Zacks Investment Research upgraded shares of Morgan Stanley from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Finally, J P Morgan Chase & Co restated a “buy” rating on shares of Morgan Stanley in a report on Tuesday, May 23rd. 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 company’s stock. Morgan Stanley presently has an average rating of “Buy” and a consensus target price of $48.57.
In related news, Chairman James P. Gorman sold 212,366 shares of the business’s 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 sale, the chairman now directly owns 1,602,609 shares in the company, valued at approximately $75,739,301.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Jonathan Pruzan sold 25,767 shares of the business’s stock in a transaction dated 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 owns 196,708 shares in the company, valued at $9,182,329.44. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by 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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