Morgan Stanley (MS) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank
Zurcher Kantonalbank Zurich Cantonalbank cut its position in Morgan Stanley (NYSE:MS) by 16.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 393,363 shares of the financial services provider’s stock after selling 75,163 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Morgan Stanley were worth $17,528,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Lee Danner & Bass Inc. raised its stake in shares of Morgan Stanley by 0.3% in the first quarter. Lee Danner & Bass Inc. now owns 8,685 shares of the financial services provider’s stock valued at $372,000 after buying an additional 22 shares during the period. Guardian Life Insurance Co. of America raised its stake in shares of Morgan Stanley by 0.5% in the first quarter. Guardian Life Insurance Co. of America now owns 5,551 shares of the financial services provider’s stock valued at $238,000 after buying an additional 25 shares during the period. Smithfield Trust Co. raised its stake in shares of Morgan Stanley by 1.2% in the second quarter. Smithfield Trust Co. now owns 3,690 shares of the financial services provider’s stock valued at $164,000 after buying an additional 42 shares during the period. Savant Capital LLC raised its stake in shares of Morgan Stanley by 0.8% in the first quarter. Savant Capital LLC now owns 9,677 shares of the financial services provider’s stock valued at $415,000 after buying an additional 77 shares during the period. Finally, M Holdings Securities Inc. raised its stake in shares of Morgan Stanley by 1.6% in the first quarter. M Holdings Securities Inc. now owns 5,145 shares of the financial services provider’s stock valued at $220,000 after buying an additional 83 shares during the period. Hedge funds and other institutional investors own 85.20% of the company’s stock.
Morgan Stanley (NYSE MS) opened at 45.48 on Tuesday. Morgan Stanley has a 12-month low of $30.62 and a 12-month high of $48.90. The stock has a market cap of $83.53 billion, a P/E ratio of 13.03 and a beta of 1.63. The stock has a 50 day moving average of $46.35 and a 200 day moving average of $44.56.
Morgan Stanley (NYSE:MS) last posted its earnings results on Wednesday, July 19th. The financial services provider reported $0.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.11. The company had revenue of $9.50 billion for the quarter, compared to analyst estimates of $9.05 billion. Morgan Stanley had a return on equity of 9.83% and a net margin of 16.77%. Morgan Stanley’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.75 earnings per share. On average, equities research analysts anticipate that Morgan Stanley will post $3.50 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st were issued a $0.25 dividend. This is a positive change from Morgan Stanley’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Thursday, July 27th. This represents a $1.00 annualized dividend and a yield of 2.20%. Morgan Stanley’s dividend payout ratio is 28.65%.
Morgan Stanley announced that its board has approved a share repurchase plan on Wednesday, June 28th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 6.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
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Several analysts recently issued reports on the stock. HSBC Holdings plc set a $54.00 target price on shares of Morgan Stanley and gave the company a “hold” rating in a research report on Friday, August 11th. Wells Fargo & Company assumed coverage on shares of Morgan Stanley in a research report on Wednesday, August 9th. They set a “market perform” rating and a $48.00 target price for the company. Zacks Investment Research upgraded shares of Morgan Stanley from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Macquarie restated an “outperform” rating and set a $52.00 target price (up from $51.00) on shares of Morgan Stanley in a research report on Saturday, July 22nd. Finally, Credit Suisse Group restated a “neutral” rating and set a $49.00 target price (up from $47.00) on shares of Morgan Stanley in a research report on Saturday, July 22nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $48.57.
In other Morgan Stanley news, CFO Jonathan Pruzan sold 25,767 shares of the company’s 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 sale, the chief financial officer now owns 196,708 shares of the company’s stock, valued at $9,182,329.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman James P. Gorman sold 212,366 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $47.26, for a total value of $10,036,417.16. Following the completion of the sale, the chairman now directly owns 1,602,609 shares in the company, valued at approximately $75,739,301.34. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by corporate 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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