Morgan Stanley (MS) Position Reduced by Systematic Financial Management LP
Systematic Financial Management LP lessened its stake in Morgan Stanley (NYSE:MS) by 5.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 107,912 shares of the financial services provider’s stock after selling 5,715 shares during the quarter. Systematic Financial Management LP’s holdings in Morgan Stanley were worth $4,809,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Parkside Financial Bank & Trust boosted its stake in Morgan Stanley by 9.1% during the 2nd quarter. Parkside Financial Bank & Trust now owns 2,275 shares of the financial services provider’s stock worth $101,000 after purchasing an additional 190 shares during the last quarter. Invictus RG acquired a new stake in Morgan Stanley during the 1st quarter worth $106,000. V Wealth Management LLC acquired a new stake in Morgan Stanley during the 2nd quarter worth $106,000. FTB Advisors Inc. boosted its stake in Morgan Stanley by 8.1% during the 1st quarter. FTB Advisors Inc. now owns 2,605 shares of the financial services provider’s stock worth $112,000 after purchasing an additional 196 shares during the last quarter. Finally, State of Alaska Department of Revenue acquired a new stake in Morgan Stanley during the 1st quarter worth $120,000. 85.20% of the stock is owned by institutional investors.
Shares of Morgan Stanley (NYSE:MS) opened at 45.16 on Tuesday. Morgan Stanley has a 52 week low of $30.62 and a 52 week high of $48.90. The firm’s 50-day moving average is $46.22 and its 200-day moving average is $44.50. The stock has a market capitalization of $82.94 billion, a price-to-earnings ratio of 12.94 and a beta of 1.63.
Morgan Stanley (NYSE:MS) last released its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.87 earnings per share for the quarter, beating the 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%. The company’s revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.75 EPS. On average, equities research analysts anticipate that Morgan Stanley will post $3.50 EPS for the current fiscal year.
The company 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. This is a positive change from Morgan Stanley’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a dividend yield of 2.21%. The ex-dividend date was Thursday, July 27th. Morgan Stanley’s payout ratio is currently 28.65%.
Morgan Stanley declared that its board has approved a stock repurchase program 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 programs are often a sign that the company’s board believes its stock is undervalued.
In related news, CFO Jonathan Pruzan sold 25,767 shares of the business’s stock in a transaction that occurred 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 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman James P. Gorman sold 212,366 shares of the business’s stock in a transaction that occurred 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 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. Insiders own 0.24% of the company’s stock.
MS has been the topic of several recent research reports. Zacks Investment Research raised shares of Morgan Stanley from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Tuesday, June 13th. BMO Capital Markets lifted their target price on shares of Morgan Stanley from $58.00 to $61.00 and gave the stock an “outperform” rating in a research note on Thursday, July 20th. ValuEngine cut shares of Morgan Stanley from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. Vetr raised shares of Morgan Stanley from a “sell” rating to a “hold” rating and set a $40.50 target price on the stock in a research note on Wednesday, May 17th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $50.00 price target on shares of Morgan Stanley in a research report on Tuesday, June 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $48.52.
Morgan Stanley 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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