Tlwm grew its stake in Morgan Stanley (NYSE:MS) by 1.6% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 11,094 shares of the financial services provider’s stock after buying an additional 172 shares during the period. Morgan Stanley makes up 0.4% of Tlwm’s investment portfolio, making the stock its 27th biggest position. Tlwm’s holdings in Morgan Stanley were worth $1,016,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the company. Close Asset Management Ltd acquired a new stake in Morgan Stanley during the first quarter worth approximately $26,000. Trustcore Financial Services LLC bought a new position in Morgan Stanley in the second quarter worth approximately $26,000. Selective Wealth Management Inc. bought a new position in Morgan Stanley in the second quarter worth approximately $28,000. Cowen Prime Advisors LLC bought a new position in Morgan Stanley in the second quarter worth approximately $29,000. Finally, KB Financial Partners LLC bought a new position in Morgan Stanley in the first quarter worth approximately $30,000. 84.72% of the stock is owned by institutional investors.
MS has been the topic of a number of recent research reports. Zacks Investment Research lowered Morgan Stanley from a “buy” rating to a “hold” rating and set a $97.00 target price on the stock. in a report on Wednesday, June 16th. Citigroup raised their target price on Morgan Stanley from $88.00 to $97.00 and gave the company a “neutral” rating in a report on Monday, July 19th. They noted that the move was a valuation call. Evercore ISI reiterated a “buy” rating and set a $103.00 price target on shares of Morgan Stanley in a report on Friday, July 2nd. Bank of America lifted their price target on Morgan Stanley from $92.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, June 4th. Finally, Seaport Global Securities lowered Morgan Stanley from a “buy” rating to a “neutral” rating in a report on Friday, August 13th. They noted that the move was a valuation call. Eight research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $95.74.
Morgan Stanley (NYSE:MS) last issued its quarterly earnings results on Wednesday, July 14th. The financial services provider reported $1.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.63 by $0.22. Morgan Stanley had a return on equity of 14.86% and a net margin of 23.89%. The firm had revenue of $14.76 billion during the quarter, compared to analyst estimates of $13.99 billion. During the same quarter in the previous year, the company posted $1.96 earnings per share. The company’s revenue was up 10.0% compared to the same quarter last year. On average, analysts expect that Morgan Stanley will post 7.46 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 13th. Investors of record on Friday, July 30th were paid a $0.70 dividend. The ex-dividend date was Thursday, July 29th. This represents a $2.80 annualized dividend and a dividend yield of 2.73%. This is an increase from Morgan Stanley’s previous quarterly dividend of $0.35. Morgan Stanley’s dividend payout ratio is presently 42.55%.
Morgan Stanley announced that its board has approved a share repurchase program on Monday, June 28th that authorizes the company to buyback $12.00 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 7.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
In other news, CFO Sharon Yeshaya sold 2,500 shares of Morgan Stanley stock in a transaction that occurred on Wednesday, July 21st. The shares were sold at an average price of $95.64, for a total transaction of $239,100.00. Following the completion of the sale, the chief financial officer now owns 24,895 shares of the company’s stock, valued at $2,380,957.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Andrew M. Saperstein sold 11,465 shares of Morgan Stanley stock in a transaction that occurred on Friday, July 16th. The shares were sold at an average price of $92.97, for a total transaction of $1,065,901.05. The disclosure for this sale can be found here. Insiders sold a total of 25,430 shares of company stock worth $2,370,902 over the last ninety days. 0.23% of the stock is currently owned by insiders.
Morgan Stanley Company Profile
Morgan Stanley operates as a global financial services company. The firm provides investment banking products and services to its clients and customers including corporations, governments, financial institutions, and individuals. It operates through the following segments: Institutional Securities, Wealth Management, and Investment Management.
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