Ameriprise Financial Inc. Has $934.57 Million Position in Morgan Stanley (MS)
Ameriprise Financial Inc. increased its stake in Morgan Stanley (NYSE:MS) by 3.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,973,434 shares of the financial services provider’s stock after purchasing an additional 654,034 shares during the quarter. Ameriprise Financial Inc. owned approximately 1.14% of Morgan Stanley worth $934,569,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. State of Alaska Department of Revenue purchased a new position in Morgan Stanley during the 1st quarter valued at about $120,000. Tocqueville Asset Management L.P. purchased a new position in Morgan Stanley during the 1st quarter valued at about $210,000. Capital One National Association grew its stake in Morgan Stanley by 1.9% during the 1st quarter. Capital One National Association now owns 19,259 shares of the financial services provider’s stock valued at $825,000 after acquiring an additional 356 shares in the last quarter. 361 Capital LLC purchased a new position in Morgan Stanley during the 1st quarter valued at about $6,457,000. Finally, Reinhart Partners Inc. purchased a new position in Morgan Stanley during the 1st quarter valued at about $408,000. 85.20% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Morgan Stanley (NYSE:MS) traded up 0.74% during trading on Wednesday, reaching $46.09. The company’s stock had a trading volume of 2,436,422 shares. The stock has a market cap of $84.65 billion, a P/E ratio of 13.20 and a beta of 1.63. The stock has a 50-day moving average of $46.19 and a 200-day moving average of $44.50. Morgan Stanley has a 52-week low of $30.62 and a 52-week high of $48.90.
Morgan Stanley (NYSE:MS) last posted its earnings results on Wednesday, July 19th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.11. The firm had revenue of $9.50 billion for the quarter, compared to the consensus estimate of $9.05 billion. Morgan Stanley had a return on equity of 9.83% and a net margin of 16.77%. The business’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.75 earnings per share. Analysts predict that Morgan Stanley will post $3.51 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, July 27th. This represents a $1.00 annualized dividend and a dividend yield of 2.19%. This is an increase from Morgan Stanley’s previous quarterly dividend of $0.20. Morgan Stanley’s dividend payout ratio is currently 28.65%.
Morgan Stanley announced that its board has initiated 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 reacquire up to 6.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.
Several equities analysts have weighed in on MS shares. Vetr raised 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. Zacks Investment Research raised Morgan Stanley from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a research note on Thursday, May 18th. J P Morgan Chase & Co reissued a “buy” rating on shares of Morgan Stanley in a research note on Tuesday, May 23rd. Instinet reissued 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. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $50.00 price target on shares of Morgan Stanley in a research note on Tuesday, June 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $48.52.
In other Morgan Stanley news, CFO Jonathan Pruzan sold 25,767 shares of the 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 owns 196,708 shares in the company, valued at $9,182,329.44. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 value of $10,036,417.16. Following the sale, the chairman now owns 1,602,609 shares in the company, valued at approximately $75,739,301.34. The disclosure for this sale can be found here. Corporate insiders own 0.24% 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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