Marino Stram & Associates LLC raised its stake in Morgan Stanley (NYSE:MS – Get Rating) by 3.5% during the second quarter, Holdings Channel.com reports. The institutional investor owned 7,670 shares of the financial services provider’s stock after purchasing an additional 262 shares during the quarter. Marino Stram & Associates LLC’s holdings in Morgan Stanley were worth $583,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Sound Income Strategies LLC grew its holdings in shares of Morgan Stanley by 78.6% during the 2nd quarter. Sound Income Strategies LLC now owns 343 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 151 shares during the last quarter. Western Pacific Wealth Management LP purchased a new stake in Morgan Stanley during the 4th quarter valued at $29,000. Tyler Stone Wealth Management purchased a new stake in Morgan Stanley during the 4th quarter valued at $29,000. GoalVest Advisory LLC boosted its position in Morgan Stanley by 3,233.3% during the 2nd quarter. GoalVest Advisory LLC now owns 400 shares of the financial services provider’s stock valued at $30,000 after buying an additional 388 shares during the period. Finally, Oliver Lagore Vanvalin Investment Group purchased a new stake in Morgan Stanley during the 1st quarter valued at $32,000. Institutional investors own 83.36% of the company’s stock.
Morgan Stanley Stock Down 1.8 %
NYSE:MS opened at $84.77 on Friday. The firm has a market cap of $145.54 billion, a P/E ratio of 11.46, a P/E/G ratio of 1.61 and a beta of 1.38. The company has a debt-to-equity ratio of 2.38, a quick ratio of 0.80 and a current ratio of 0.80. Morgan Stanley has a fifty-two week low of $72.05 and a fifty-two week high of $109.73. The firm has a 50-day simple moving average of $86.32 and a two-hundred day simple moving average of $84.11.
Morgan Stanley Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, August 15th. Stockholders of record on Friday, July 29th were paid a $0.775 dividend. The ex-dividend date of this dividend was Thursday, July 28th. This is a positive change from Morgan Stanley’s previous quarterly dividend of $0.70. This represents a $3.10 dividend on an annualized basis and a dividend yield of 3.66%. Morgan Stanley’s payout ratio is currently 41.89%.
Morgan Stanley declared that its board has initiated a share repurchase program on Monday, June 27th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 14.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its stock is undervalued.
Analyst Ratings Changes
Several equities research analysts have weighed in on the stock. The Goldman Sachs Group increased their price target on shares of Morgan Stanley from $85.00 to $94.00 and gave the company a “buy” rating in a research report on Wednesday. Barclays dropped their price target on shares of Morgan Stanley from $123.00 to $108.00 and set an “overweight” rating for the company in a research report on Friday, July 15th. Credit Suisse Group increased their price target on shares of Morgan Stanley from $95.00 to $97.00 and gave the company an “outperform” rating in a research report on Wednesday. BMO Capital Markets dropped their target price on shares of Morgan Stanley from $105.00 to $99.00 in a research report on Friday, July 15th. Finally, Odeon Capital Group cut shares of Morgan Stanley from a “hold” rating to a “sell” rating in a research report on Tuesday, September 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $99.38.
Insider Transactions at Morgan Stanley
In related news, major shareholder Stanley Morgan purchased 8,598 shares of Morgan Stanley stock in a transaction dated Thursday, July 28th. The stock was purchased at an average cost of $8.41 per share, for a total transaction of $72,309.18. Following the completion of the purchase, the insider now directly owns 8,598 shares of the company’s stock, valued at approximately $72,309.18. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.26% of the company’s stock.
About Morgan Stanley
Morgan Stanley, a financial holding company, provides various financial products and services to corporations, governments, financial institutions, and individuals in the Americas, Europe, the Middle East, Africa, and Asia. It operates through Institutional Securities, Wealth Management, and Investment Management segments.
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