Morgan Stanley (MS) Position Raised by AT Bancorp
AT Bancorp increased its stake in shares of Morgan Stanley (NYSE:MS) by 184.5% during the second quarter, Holdings Channel reports. The firm owned 16,430 shares of the financial services provider’s stock after buying an additional 10,654 shares during the period. AT Bancorp’s holdings in Morgan Stanley were worth $732,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of Morgan Stanley by 2,798.9% in the first quarter. BlackRock Inc. now owns 101,168,197 shares of the financial services provider’s stock valued at $4,334,046,000 after buying an additional 97,678,337 shares during the period. FMR LLC boosted its stake in shares of Morgan Stanley by 16.9% in the first quarter. FMR LLC now owns 46,221,986 shares of the financial services provider’s stock valued at $1,980,150,000 after buying an additional 6,692,676 shares during the period. Epoch Investment Partners Inc. bought a new stake in shares of Morgan Stanley during the first quarter valued at approximately $215,402,000. Massachusetts Financial Services Co. MA boosted its stake in shares of Morgan Stanley by 64.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 11,162,183 shares of the financial services provider’s stock valued at $478,188,000 after buying an additional 4,380,706 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Morgan Stanley by 4.9% in the first quarter. Vanguard Group Inc. now owns 92,226,969 shares of the financial services provider’s stock valued at $3,951,003,000 after buying an additional 4,331,723 shares during the period. Hedge funds and other institutional investors own 85.67% of the company’s stock.
Shares of Morgan Stanley (NYSE MS) opened at 45.65 on Friday. The stock’s 50 day moving average is $46.14 and its 200-day moving average is $44.39. Morgan Stanley has a one year low of $29.31 and a one year high of $48.90. The stock has a market capitalization of $83.84 billion, a P/E ratio of 13.08 and a beta of 1.63.
Morgan Stanley (NYSE:MS) last posted its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $9.05 billion. During the same period in the prior year, the firm earned $0.75 earnings per share. The business’s quarterly revenue was up 6.7% on a year-over-year basis. On average, equities research analysts expect that Morgan Stanley will post $3.50 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, July 27th. This is a positive change from Morgan Stanley’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a yield of 2.19%. Morgan Stanley’s dividend payout ratio is currently 28.65%.
Morgan Stanley announced that its board has initiated a share repurchase program on Wednesday, June 28th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 6.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
MS has been the subject of several recent analyst reports. Instinet reiterated a “buy” rating and issued a $50.00 price objective (down previously from $51.00) on shares of Morgan Stanley in a research note on Saturday, June 3rd. Buckingham Research reiterated a “buy” rating and issued a $54.00 price objective (up previously from $51.00) on shares of Morgan Stanley in a research note on Monday, July 10th. Zacks Investment Research cut shares of Morgan Stanley from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. BMO Capital Markets lifted their target price on shares of Morgan Stanley from $58.00 to $61.00 and gave the stock an “outperform” rating in a research report on Thursday, July 20th. Finally, Vetr cut shares of Morgan Stanley from a “hold” rating to a “sell” rating and set a $40.50 target price for the company. in a research report on Wednesday, April 19th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $48.02.
In other Morgan Stanley news, Chairman James P. Gorman sold 212,366 shares of the company’s stock in a transaction dated 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 completion of the sale, the chairman now directly owns 1,602,609 shares of the company’s stock, valued at $75,739,301.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Jonathan Pruzan sold 25,767 shares of the company’s stock in a transaction dated 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 directly owns 196,708 shares of the company’s stock, valued at $9,182,329.44. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by corporate insiders.
Morgan Stanley Company Profile
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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