Morgan Stanley (MS) Position Reduced by Jennison Associates LLC
Jennison Associates LLC lowered its position in shares of Morgan Stanley (NYSE:MS) by 1.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,962,020 shares of the financial services provider’s stock after selling 54,177 shares during the period. Jennison Associates LLC owned 0.16% of Morgan Stanley worth $142,681,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the stock. BlackRock Inc. grew its stake in Morgan Stanley by 1.0% during the second quarter. BlackRock Inc. now owns 102,137,658 shares of the financial services provider’s stock valued at $4,551,254,000 after acquiring an additional 969,461 shares in the last quarter. Vanguard Group Inc. grew its stake in Morgan Stanley by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 93,483,287 shares of the financial services provider’s stock worth $4,165,615,000 after buying an additional 1,256,318 shares in the last quarter. Ameriprise Financial Inc. grew its stake in Morgan Stanley by 3.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 20,973,434 shares of the financial services provider’s stock worth $934,569,000 after buying an additional 654,034 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Morgan Stanley by 24.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,326,657 shares of the financial services provider’s stock worth $549,275,000 after buying an additional 2,427,130 shares in the last quarter. Finally, Janus Capital Management LLC grew its stake in Morgan Stanley by 32.2% in the 1st quarter. Janus Capital Management LLC now owns 12,159,681 shares of the financial services provider’s stock worth $520,921,000 after buying an additional 2,962,234 shares in the last quarter. 85.12% of the stock is owned by institutional investors.
A number of research firms have commented on MS. Zacks Investment Research cut shares of Morgan Stanley from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. Credit Suisse Group raised shares of Morgan Stanley from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $49.00 to $54.00 in a research note on Monday, October 9th. Citigroup Inc. reissued a “neutral” rating and issued a $50.00 price target (up previously from $46.00) on shares of Morgan Stanley in a research note on Monday, October 9th. BMO Capital Markets reissued a “top pick” rating and issued a $69.00 price target on shares of Morgan Stanley in a research note on Wednesday, October 18th. Finally, Buckingham Research boosted their price target on shares of Morgan Stanley from $54.00 to $57.00 and gave the stock a “buy” rating in a research note on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $50.39.
Shares of Morgan Stanley (MS) traded down $0.06 during midday trading on Friday, reaching $48.76. 4,875,629 shares of the company’s stock traded hands, compared to its average volume of 8,626,910. The company has a quick ratio of 0.73, a current ratio of 0.74 and a debt-to-equity ratio of 2.68. Morgan Stanley has a 1-year low of $37.34 and a 1-year high of $51.52. The company has a market cap of $88,261.63, a price-to-earnings ratio of 13.52, a PEG ratio of 1.12 and a beta of 1.66.
Morgan Stanley (NYSE:MS) last released its earnings results on Tuesday, October 17th. The financial services provider reported $0.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.12. The firm had revenue of $9.20 billion for the quarter, compared to the consensus estimate of $9.05 billion. Morgan Stanley had a net margin of 16.76% and a return on equity of 10.07%. The company’s revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.80 EPS. research analysts expect that Morgan Stanley will post 3.57 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Monday, October 30th. Morgan Stanley’s dividend payout ratio is presently 27.70%.
In other news, insider Jeffrey S. Brodsky sold 16,397 shares of the company’s stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $50.07, for a total value of $820,997.79. Following the sale, the insider now directly owns 111,776 shares of the company’s stock, valued at approximately $5,596,624.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Thomas Colm Kelleher sold 40,000 shares of the company’s stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $50.59, for a total transaction of $2,023,600.00. Following the completion of the sale, the president now directly owns 692,037 shares in the company, valued at $35,010,151.83. 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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