Reliance Trust Co. of Delaware decreased its stake in shares of Morgan Stanley (NYSE:MS) by 28.1% during the 3rd quarter, Holdings Channel reports. The firm owned 4,890 shares of the financial services provider’s stock after selling 1,908 shares during the quarter. Reliance Trust Co. of Delaware’s holdings in Morgan Stanley were worth $228,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the company. BlackRock Inc. lifted its holdings in Morgan Stanley by 3.1% in the second quarter. BlackRock Inc. now owns 109,110,758 shares of the financial services provider’s stock worth $5,171,848,000 after acquiring an additional 3,264,493 shares during the last quarter. FMR LLC lifted its holdings in Morgan Stanley by 4.4% in the second quarter. FMR LLC now owns 45,817,038 shares of the financial services provider’s stock worth $2,171,728,000 after acquiring an additional 1,936,093 shares during the last quarter. ValueAct Holdings L.P. lifted its holdings in Morgan Stanley by 4.2% in the second quarter. ValueAct Holdings L.P. now owns 18,709,620 shares of the financial services provider’s stock worth $886,836,000 after acquiring an additional 750,000 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Morgan Stanley by 1.9% in the second quarter. Dimensional Fund Advisors LP now owns 11,754,253 shares of the financial services provider’s stock worth $557,223,000 after acquiring an additional 213,537 shares during the last quarter. Finally, Pzena Investment Management LLC lifted its holdings in Morgan Stanley by 0.6% in the second quarter. Pzena Investment Management LLC now owns 8,247,266 shares of the financial services provider’s stock worth $390,920,000 after acquiring an additional 47,260 shares during the last quarter. 84.49% of the stock is currently owned by institutional investors and hedge funds.
In related news, major shareholder Stanley Morgan sold 327 shares of the firm’s stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of $23,000.00, for a total transaction of $7,521,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.19% of the stock is owned by company insiders.
NYSE MS opened at $45.89 on Friday. Morgan Stanley has a 12 month low of $42.88 and a 12 month high of $59.38. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 2.67. The company has a market cap of $77.64 billion, a P/E ratio of 12.75, a P/E/G ratio of 0.77 and a beta of 1.42.
Morgan Stanley (NYSE:MS) last posted its quarterly earnings data on Tuesday, October 16th. The financial services provider reported $1.17 EPS for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.16. Morgan Stanley had a net margin of 15.93% and a return on equity of 12.53%. The business had revenue of $9.87 billion for the quarter, compared to analyst estimates of $9.55 billion. During the same quarter last year, the business earned $0.93 earnings per share. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. Sell-side analysts predict that Morgan Stanley will post 4.94 EPS for the current fiscal year.
Morgan Stanley declared that its board has approved a share buyback plan on Wednesday, July 18th that authorizes the company to buyback $4.70 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 5.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Wednesday, October 31st will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, October 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.61%. Morgan Stanley’s dividend payout ratio is presently 33.33%.
Several equities research analysts have commented on MS shares. Zacks Investment Research lowered shares of Morgan Stanley from a “buy” rating to a “hold” rating in a research note on Tuesday, August 14th. Wells Fargo & Co upgraded shares of Morgan Stanley from a “market perform” rating to an “outperform” rating and raised their price target for the company from $56.00 to $60.00 in a research note on Wednesday, October 24th. Goldman Sachs Group set a $59.00 price target on shares of Morgan Stanley and gave the company a “neutral” rating in a research note on Friday, July 20th. HSBC lowered shares of Morgan Stanley from a “buy” rating to a “hold” rating and set a $54.00 price target on the stock. in a research note on Tuesday, October 2nd. Finally, Citigroup dropped their price target on shares of Morgan Stanley from $58.00 to $56.00 and set a “neutral” rating on the stock in a research note on Friday, July 20th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $58.82.
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. The company operates Institutional Securities, Wealth Management, and Investment Management segments.
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