Morgan Stanley (MS) Shares Sold by Suffolk Capital Management LLC
Suffolk Capital Management LLC cut its position in Morgan Stanley (NYSE:MS) by 65.9% during the second quarter, Holdings Channel reports. The firm owned 76,148 shares of the financial services provider’s stock after selling 147,422 shares during the period. Suffolk Capital Management LLC’s holdings in Morgan Stanley were worth $3,393,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of MS. Parkside Financial Bank & Trust increased 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 worth $101,000 after buying an additional 190 shares during the period. Invictus RG bought a new position in shares of Morgan Stanley during the first quarter worth $106,000. V Wealth Management LLC bought a new position in shares of Morgan Stanley during the second quarter worth $106,000. FTB Advisors Inc. increased 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 worth $112,000 after buying an additional 196 shares during the period. Finally, State of Alaska Department of Revenue bought a new position in shares of Morgan Stanley during the first quarter worth $120,000. 85.67% of the stock is currently owned by institutional investors.
Morgan Stanley (NYSE:MS) opened at 47.65 on Thursday. The company has a market capitalization of $87.68 billion, a PE ratio of 13.65 and a beta of 1.63. The company has a 50 day moving average of $46.07 and a 200 day moving average of $44.35. Morgan Stanley has a 52-week low of $28.86 and a 52-week high of $48.90. Morgan Stanley also saw some unusual options trading on Monday. Stock investors purchased 6,765 call options on the stock. This is an increase of approximately 381% compared to the typical daily volume of 1,407 call options.
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, beating the consensus estimate of $0.76 by $0.11. The company had revenue of $9.50 billion for the quarter, compared to the consensus estimate of $9.05 billion. Morgan Stanley had a return on equity of 9.83% and a net margin of 16.77%. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the company earned $0.75 EPS. On average, equities research analysts forecast that Morgan Stanley will post $3.52 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 31st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend is Thursday, July 27th. This is an increase from Morgan Stanley’s previous quarterly dividend of $0.20. Morgan Stanley’s dividend payout ratio (DPR) is 28.65%.
Morgan Stanley announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, June 28th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 6.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.
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A number of equities analysts recently weighed in on the stock. J P Morgan Chase & Co reissued 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 research note on Monday, July 3rd. Vetr upgraded 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 Tuesday, May 23rd. Citigroup Inc. boosted their price objective on Morgan Stanley from $44.00 to $46.00 and gave the company a “neutral” rating in a research note on Tuesday, April 25th. Finally, Zacks Investment Research cut Morgan Stanley from a “buy” rating to a “hold” rating in a research note on Monday, June 12th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $47.61.
In related news, Chairman James P. Gorman sold 212,366 shares of Morgan Stanley stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $47.26, for a total transaction of $10,036,417.16. Following the sale, the chairman now owns 1,602,609 shares of the company’s stock, valued at approximately $75,739,301.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jonathan Pruzan sold 25,767 shares of Morgan Stanley stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $46.68, for a total value of $1,202,803.56. Following the sale, the chief financial officer now directly owns 196,708 shares in the company, valued at approximately $9,182,329.44. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by company 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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