Duff & Phelps Investment Management Co. Cuts Stake in Morgan Stanley (MS)
Duff & Phelps Investment Management Co. decreased its position in Morgan Stanley (NYSE:MS) by 6.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,305 shares of the financial services provider’s stock after selling 1,120 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Morgan Stanley were worth $727,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the company. Parkside Financial Bank & Trust raised its position in shares of Morgan Stanley by 9.1% in the second quarter. Parkside Financial Bank & Trust now owns 2,275 shares of the financial services provider’s stock valued at $101,000 after buying an additional 190 shares in the last quarter. V Wealth Management LLC acquired a new position in shares of Morgan Stanley during the second quarter valued at $106,000. Invictus RG acquired a new position in shares of Morgan Stanley during the first quarter valued at $106,000. FTB Advisors Inc. raised its position in shares of Morgan Stanley by 8.1% in the first quarter. FTB Advisors Inc. now owns 2,605 shares of the financial services provider’s stock valued at $112,000 after buying an additional 196 shares in the last quarter. Finally, State of Alaska Department of Revenue acquired a new position in shares of Morgan Stanley during the first quarter valued at $120,000. Institutional investors own 85.47% of the company’s stock.
Morgan Stanley (NYSE MS) opened at 46.51 on Tuesday. The company has a 50-day moving average of $46.22 and a 200-day moving average of $44.42. Morgan Stanley has a 52-week low of $29.87 and a 52-week high of $48.90. The company has a market cap of $85.42 billion, a P/E ratio of 13.32 and a beta of 1.63.
Morgan Stanley (NYSE:MS) last released its earnings results on Wednesday, July 19th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.11. Morgan Stanley had a net margin of 16.77% and a return on equity of 9.83%. The company had revenue of $9.50 billion for the quarter, compared to the consensus estimate of $9.05 billion. During the same quarter in the previous year, the company earned $0.75 EPS. Morgan Stanley’s quarterly revenue was up 6.7% compared to the same quarter last year. On average, equities research analysts expect that Morgan Stanley will post $3.50 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 31st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date is Thursday, July 27th. This is an increase from Morgan Stanley’s previous quarterly dividend of $0.20. Morgan Stanley’s payout ratio is presently 28.65%.
Morgan Stanley announced that its Board of Directors has approved a share buyback plan on Wednesday, June 28th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 6.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
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Several equities analysts recently weighed in on the stock. J P Morgan Chase & Co restated a “buy” rating on shares of Morgan Stanley in a report on Tuesday, May 23rd. Deutsche Bank AG restated a “buy” rating on shares of Morgan Stanley in a report on Monday, July 3rd. Citigroup Inc. increased their price objective on shares of Morgan Stanley from $44.00 to $46.00 and gave the company a “neutral” rating in a report on Tuesday, April 25th. Vetr upgraded shares of Morgan Stanley from a “sell” rating to a “hold” rating and set a $40.50 price objective on the stock in a report on Tuesday, May 23rd. Finally, HSBC Holdings plc set a $54.00 price objective on shares of Morgan Stanley and gave the company a “hold” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $48.02.
In related news, Chairman James P. Gorman sold 212,366 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $47.26, for a total transaction of $10,036,417.16. Following the transaction, the chairman now owns 1,602,609 shares in the company, valued at approximately $75,739,301.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jonathan Pruzan sold 25,767 shares of the business’s stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $46.68, for a total transaction of $1,202,803.56. Following the sale, the chief financial officer now owns 196,708 shares of the company’s stock, valued at approximately $9,182,329.44. The disclosure for this sale can be found here. 0.24% of the stock is owned by insiders.
About Morgan Stanley
Morgan Stanley is a financial holding company. The Company’s segments include Institutional Securities, Wealth Management and Investment Management. The Company’s Institutional Securities business segment provides investment banking, sales and trading, and other services to corporations, governments, financial institutions and high-to-ultra high net worth clients.
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