Lowe Brockenbrough & Co. Inc. Has $5.17 Million Stake in Morgan Stanley (NYSE:MS)
Lowe Brockenbrough & Co. Inc. raised its stake in Morgan Stanley (NYSE:MS) by 0.2% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 116,094 shares of the financial services provider’s stock after buying an additional 233 shares during the period. Lowe Brockenbrough & Co. Inc.’s holdings in Morgan Stanley were worth $5,173,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the company. Parkside Financial Bank & Trust raised its position in 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 during the last quarter. Invictus RG purchased a new position in Morgan Stanley during the first quarter valued at $106,000. V Wealth Management LLC purchased a new position in Morgan Stanley during the second quarter valued at $106,000. FTB Advisors Inc. raised its position in 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 during the last quarter. Finally, State of Alaska Department of Revenue purchased a new position in Morgan Stanley during the first quarter valued at $120,000. Institutional investors own 85.67% of the company’s stock.
Shares of Morgan Stanley (MS) opened at 46.30 on Friday. The company has a market cap of $85.03 billion, a price-to-earnings ratio of 13.26 and a beta of 1.63. Morgan Stanley has a 12 month low of $28.86 and a 12 month high of $48.90. The stock has a 50 day moving average of $46.11 and a 200-day moving average of $44.36.
Morgan Stanley (NYSE:MS) last issued its earnings results on Wednesday, July 19th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.11. Morgan Stanley had a return on equity of 9.83% and a net margin of 16.77%. The company had revenue of $9.50 billion for the quarter, compared to analysts’ expectations of $9.05 billion. During the same period last year, the business earned $0.75 EPS. Morgan Stanley’s quarterly revenue was up 6.7% compared to the same quarter last year. On average, analysts forecast that Morgan Stanley will post $3.50 EPS for the current year.
Morgan Stanley declared that its Board of Directors has initiated a share repurchase program on Wednesday, June 28th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 6.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 31st will be issued a $0.25 dividend. This is a boost from Morgan Stanley’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date is Thursday, July 27th. Morgan Stanley’s dividend payout ratio (DPR) is currently 28.65%.
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Several research analysts recently weighed in on MS shares. Zacks Investment Research raised shares of Morgan Stanley from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Tuesday, June 13th. BMO Capital Markets lifted their price objective on shares of Morgan Stanley from $58.00 to $61.00 and gave the stock an “outperform” rating in a research note on Thursday, July 20th. Vetr raised shares of Morgan Stanley from a “sell” rating to a “hold” rating and set a $40.50 price objective on the stock in a research note on Wednesday, May 17th. Royal Bank Of Canada reissued a “buy” rating and set a $50.00 price objective on shares of Morgan Stanley in a research note on Tuesday, June 6th. Finally, J P Morgan Chase & Co reissued a “buy” rating and set a $53.00 price objective on shares of Morgan Stanley in a research note on Monday, June 26th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $48.02.
In related news, CFO Jonathan Pruzan sold 25,767 shares of the stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $46.68, for a total value of $1,202,803.56. Following the transaction, the chief financial officer now directly owns 196,708 shares in the company, valued at approximately $9,182,329.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman James P. Gorman sold 212,366 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $47.26, for a total value of $10,036,417.16. Following the completion of the transaction, the chairman now owns 1,602,609 shares in the company, valued at $75,739,301.34. The disclosure for this sale can be found here. 0.35% of the stock is owned by company 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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