Morgan Stanley (MS) Stake Decreased by Dai Ichi Life Insurance Company Ltd
Dai Ichi Life Insurance Company Ltd lessened its holdings in shares of Morgan Stanley (NYSE:MS) by 31.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 243,535 shares of the financial services provider’s stock after selling 111,301 shares during the period. Dai Ichi Life Insurance Company Ltd’s holdings in Morgan Stanley were worth $10,852,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in shares of Morgan Stanley by 2,798.9% during the 1st quarter. BlackRock Inc. now owns 101,168,197 shares of the financial services provider’s stock valued at $4,334,046,000 after purchasing an additional 97,678,337 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Morgan Stanley by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 92,226,969 shares of the financial services provider’s stock valued at $3,951,003,000 after purchasing an additional 4,331,723 shares in the last quarter. FMR LLC lifted its holdings in shares of Morgan Stanley by 16.9% during the 1st quarter. FMR LLC now owns 46,221,986 shares of the financial services provider’s stock valued at $1,980,150,000 after purchasing an additional 6,692,676 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Morgan Stanley by 7.2% during the 1st quarter. Geode Capital Management LLC now owns 14,456,307 shares of the financial services provider’s stock valued at $618,456,000 after purchasing an additional 970,041 shares in the last quarter. Finally, Janus Capital Management LLC lifted its holdings in shares of Morgan Stanley by 32.2% during the 1st quarter. Janus Capital Management LLC now owns 12,159,681 shares of the financial services provider’s stock valued at $520,921,000 after purchasing an additional 2,962,234 shares in the last quarter. Institutional investors and hedge funds own 85.20% of the company’s stock.
Morgan Stanley (MS) traded down 0.14% on Friday, hitting $44.01. The company had a trading volume of 8,739,832 shares. The stock has a market capitalization of $80.83 billion, a PE ratio of 12.61 and a beta of 1.63. The stock has a 50 day moving average of $46.23 and a 200-day moving average of $44.54. Morgan Stanley has a one year low of $30.62 and a one year high of $48.90.
Morgan Stanley (NYSE:MS) last issued its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.87 EPS for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.11. The business had revenue of $9.50 billion for the quarter, compared to analyst estimates of $9.05 billion. Morgan Stanley had a return on equity of 9.83% and a net margin of 16.77%. Morgan Stanley’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period last year, the company posted $0.75 earnings per share. Equities analysts anticipate that Morgan Stanley will post $3.50 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Monday, July 31st were issued a dividend of $0.25 per share. This is a positive change from Morgan Stanley’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend was Thursday, July 27th. Morgan Stanley’s dividend payout ratio (DPR) is 28.65%.
Morgan Stanley announced that its Board of Directors has approved a share buyback program on Wednesday, June 28th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 6.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
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Several equities analysts have recently weighed in on the company. Wells Fargo & Company assumed coverage on Morgan Stanley in a report on Wednesday, August 9th. They set a “market perform” rating and a $48.00 price objective on the stock. BMO Capital Markets boosted their target price on Morgan Stanley from $58.00 to $61.00 and gave the company an “outperform” rating in a research note on Thursday, July 20th. 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. 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, Zacks Investment Research upgraded Morgan Stanley from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently 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 stock was 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 in the company, valued at $9,182,329.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 value of $10,036,417.16. Following the sale, the chairman now owns 1,602,609 shares in the company, valued at $75,739,301.34. The disclosure for this sale can be found here. Company 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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