Hamlin Capital Management LLC Sells 8,601 Shares of Morgan Stanley $MS

Hamlin Capital Management LLC reduced its stake in shares of Morgan Stanley (NYSE:MS) by 0.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,169,699 shares of the financial services provider’s stock after selling 8,601 shares during the quarter. Morgan Stanley comprises about 5.4% of Hamlin Capital Management LLC’s investment portfolio, making the stock its 3rd largest holding. Hamlin Capital Management LLC’s holdings in Morgan Stanley were worth $219,997,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Crown Wealth Group LLC boosted its stake in Morgan Stanley by 3.2% in the 2nd quarter. Crown Wealth Group LLC now owns 1,532 shares of the financial services provider’s stock worth $320,000 after purchasing an additional 48 shares during the period. Hughes Financial Services LLC lifted its holdings in shares of Morgan Stanley by 55.7% in the second quarter. Hughes Financial Services LLC now owns 137 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 49 shares in the last quarter. Evolution Wealth Management Inc. lifted its holdings in shares of Morgan Stanley by 35.7% in the second quarter. Evolution Wealth Management Inc. now owns 194 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 51 shares in the last quarter. Financial Management Professionals Inc. boosted its position in shares of Morgan Stanley by 0.6% in the second quarter. Financial Management Professionals Inc. now owns 8,245 shares of the financial services provider’s stock worth $1,724,000 after buying an additional 52 shares during the period. Finally, Bank OZK grew its holdings in shares of Morgan Stanley by 3.0% during the second quarter. Bank OZK now owns 1,815 shares of the financial services provider’s stock valued at $379,000 after buying an additional 53 shares in the last quarter. Institutional investors and hedge funds own 84.19% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on MS. UBS Group dropped their price target on Morgan Stanley from $260.00 to $236.00 and set a “buy” rating on the stock in a research report on Monday. Citigroup lowered their target price on Morgan Stanley from $235.00 to $210.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 30th. Erste Group Bank downgraded Morgan Stanley from a “buy” rating to a “hold” rating in a report on Thursday. Barclays raised their price target on shares of Morgan Stanley from $230.00 to $262.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. Finally, Evercore reaffirmed an “outperform” rating on shares of Morgan Stanley in a research report on Monday, July 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $219.43.

Morgan Stanley Stock Down 1.2%

Shares of Morgan Stanley stock traded down $2.20 during midday trading on Thursday, reaching $187.51. 2,282,669 shares of the company’s stock traded hands, compared to its average volume of 6,148,085. The company has a market cap of $295.76 billion, a price-to-earnings ratio of 15.14, a price-to-earnings-growth ratio of 1.27 and a beta of 1.22. The company’s 50 day simple moving average is $208.40 and its 200 day simple moving average is $202.66. The company has a debt-to-equity ratio of 3.65, a quick ratio of 0.79 and a current ratio of 0.79. Morgan Stanley has a 52 week low of $151.84 and a 52 week high of $232.25.

Morgan Stanley (NYSE:MS) last issued its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $3.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.89 by $0.57. Morgan Stanley had a net margin of 15.65% and a return on equity of 19.31%. The firm had revenue of $21.35 billion during the quarter, compared to analysts’ expectations of $19.67 billion. During the same period in the prior year, the company posted $2.13 earnings per share. Morgan Stanley’s revenue for the quarter was up 27.1% on a year-over-year basis. Equities analysts expect that Morgan Stanley will post 12.68 earnings per share for the current fiscal year.

Morgan Stanley Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were issued a dividend of $1.15 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.5%. This is a positive change from Morgan Stanley’s previous quarterly dividend of $1.00. Morgan Stanley’s payout ratio is currently 37.19%.

Morgan Stanley announced that its Board of Directors has initiated a share repurchase program on Wednesday, June 24th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 5.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Key Stories Impacting Morgan Stanley

Here are the key news stories impacting Morgan Stanley this week:

• Positive Sentiment: Morgan Stanley plans to convert eight Eaton Vance municipal-bond mutual funds with nearly $10 billion in assets into ETFs, potentially supporting fee growth, product competitiveness and fund flows. Shareholder approval is required. Morgan Stanley Wants to Convert Nearly $10 Billion in Municipal Mutual Funds Into ETFs
• Positive Sentiment: Morgan Stanley was selected as a joint lead manager for the U.K.’s planned digitally native government bond, creating potential underwriting, distribution and advisory revenue opportunities. UK names six banks to lead first digitally native government bond
• Positive Sentiment: Call-option volume reached 26,930 contracts, well above the recent average, indicating some traders are positioning for a rebound. Jim Cramer also recently endorsed MS following its pullback and buyback authorization. Jim Cramer Backs Morgan Stanley After Its Pullback
• Neutral Sentiment: TD Cowen initiated coverage with a Hold rating and a $210 price target, while broader coverage averages imply a Moderate Buy rating and an average target near $220. The target upside is constructive, but the Hold initiation limits the immediate bullish signal. TD Cowen Initiates Morgan Stanley Coverage
• Negative Sentiment: Erste Group downgraded Morgan Stanley from Buy to Hold. Separately, earnings-preview commentary says the company lacks the usual combination of factors associated with a likely upcoming earnings beat, encouraging investors to reduce risk ahead of results. Morgan Stanley Earnings Expected to Grow

About Morgan Stanley

Morgan Stanley is a global financial services firm serving corporations, governments, financial institutions, individuals and other investors. The company provides investment banking and advisory services, including mergers and acquisitions advice, equity and debt underwriting, securities sales and trading, and corporate lending.

Through its Wealth Management business, Morgan Stanley offers financial planning, brokerage, investment advisory and banking services to individual investors, businesses and institutions.