Matrix Asset Advisors Inc. NY raised its stake in shares of Morgan Stanley (NYSE:MS – Get Rating) by 20.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 188,398 shares of the financial services provider’s stock after purchasing an additional 32,335 shares during the quarter. Morgan Stanley accounts for about 2.2% of Matrix Asset Advisors Inc. NY’s investment portfolio, making the stock its 15th biggest position. Matrix Asset Advisors Inc. NY’s holdings in Morgan Stanley were worth $14,330,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in MS. Sound Income Strategies LLC boosted its holdings in Morgan Stanley by 78.6% during the second quarter. Sound Income Strategies LLC now owns 343 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 151 shares during the last quarter. Western Pacific Wealth Management LP acquired a new stake in shares of Morgan Stanley in the 4th quarter valued at approximately $29,000. Tyler Stone Wealth Management acquired a new position in shares of Morgan Stanley in the 4th quarter worth approximately $29,000. GoalVest Advisory LLC increased its stake in shares of Morgan Stanley by 3,233.3% in the 2nd quarter. GoalVest Advisory LLC now owns 400 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 388 shares in the last quarter. Finally, Oliver Lagore Vanvalin Investment Group bought a new stake in Morgan Stanley during the 1st quarter valued at $32,000. Institutional investors own 83.36% of the company’s stock.
Analyst Ratings Changes
Several research analysts recently weighed in on MS shares. Credit Suisse Group upped their price objective on shares of Morgan Stanley from $95.00 to $97.00 and gave the stock an “outperform” rating in a research report on Wednesday. Oppenheimer reduced their target price on shares of Morgan Stanley from $97.00 to $93.00 and set an “outperform” rating for the company in a report on Friday, July 15th. Wells Fargo & Company dropped their target price on shares of Morgan Stanley from $91.00 to $83.00 and set an “equal weight” rating for the company in a research report on Friday, July 1st. Odeon Capital Group downgraded shares of Morgan Stanley from a “hold” rating to a “sell” rating in a research note on Tuesday, September 6th. Finally, Piper Sandler dropped their target price on shares of Morgan Stanley from $100.00 to $90.00 and set a “neutral” rating on the stock in a report on Friday, July 1st. 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 company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $99.38.
Insiders Place Their Bets
Morgan Stanley Stock Down 3.9 %
Morgan Stanley stock traded down $3.34 during trading hours on Friday, hitting $81.43. The stock had a trading volume of 162,715 shares, compared to its average volume of 8,344,522. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 2.38. The stock’s 50-day moving average price is $86.32 and its 200-day moving average price is $84.11. Morgan Stanley has a 12-month low of $72.05 and a 12-month high of $109.73. The stock has a market capitalization of $139.80 billion, a P/E ratio of 11.46, a price-to-earnings-growth ratio of 1.61 and a beta of 1.38.
Morgan Stanley (NYSE:MS – Get Rating) last announced its earnings results on Thursday, July 14th. The financial services provider reported $1.44 earnings per share for the quarter, missing the consensus estimate of $1.55 by ($0.11). Morgan Stanley had a net margin of 22.76% and a return on equity of 14.33%. The firm had revenue of $13.13 billion during the quarter, compared to analysts’ expectations of $13.50 billion. During the same period in the prior year, the company posted $1.89 EPS. The company’s revenue was down 11.0% compared to the same quarter last year. Equities research analysts anticipate that Morgan Stanley will post 6.69 EPS for the current fiscal year.
Morgan Stanley Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 15th. Investors of record on Friday, July 29th were issued a $0.775 dividend. This is a positive change from Morgan Stanley’s previous quarterly dividend of $0.70. This represents a $3.10 annualized dividend and a yield of 3.81%. The ex-dividend date of this dividend was Thursday, July 28th. Morgan Stanley’s payout ratio is 41.89%.
Morgan Stanley declared that its Board of Directors has approved a share repurchase plan on Monday, June 27th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 14.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
Morgan Stanley Profile
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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