Morgan Stanley (MS) Stake Boosted by BTC Capital Management Inc.
BTC Capital Management Inc. raised its position in Morgan Stanley (NYSE:MS) by 1.8% during the second quarter, Holdings Channel reports. The fund owned 67,669 shares of the financial services provider’s stock after buying an additional 1,188 shares during the period. BTC Capital Management Inc.’s holdings in Morgan Stanley were worth $3,013,000 as of its most recent filing with the SEC.
A number of other hedge funds have also modified their holdings of the company. Parkside Financial Bank & Trust increased its stake 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 last quarter. Invictus RG purchased a new stake in shares of Morgan Stanley during the first quarter valued at approximately $106,000. V Wealth Management LLC purchased a new stake in shares of Morgan Stanley during the second quarter valued at approximately $106,000. FTB Advisors Inc. increased its stake 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 purchased a new stake in shares of Morgan Stanley during the first quarter valued at approximately $120,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.
Morgan Stanley (NYSE MS) opened at 46.51 on Tuesday. 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 PE ratio of 13.32 and a beta of 1.63. The firm’s 50 day moving average is $46.22 and its 200 day moving average is $44.42.
Morgan Stanley (NYSE:MS) last posted its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.87 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 firm had revenue of $9.50 billion for the quarter, compared to analysts’ expectations of $9.05 billion. During the same quarter in the prior year, the company posted $0.75 earnings per share. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. Analysts forecast that Morgan Stanley will post $3.50 EPS for the current fiscal year.
Morgan Stanley announced that its board has approved a share buyback plan on Wednesday, June 28th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 6.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st will be issued a dividend of $0.25 per share. This is a boost from Morgan Stanley’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.15%. Morgan Stanley’s dividend payout ratio is presently 28.65%.
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MS has been the subject of several research reports. Vetr downgraded Morgan Stanley from a “hold” rating to a “sell” rating and set a $40.50 target price for the company. in a research note on Wednesday, April 19th. Vining Sparks restated a “strong-buy” rating and issued a $51.00 target price on shares of Morgan Stanley in a research note on Thursday, April 20th. Rafferty Capital Markets restated a “buy” rating and issued a $50.00 target price on shares of Morgan Stanley in a research note on Saturday, April 22nd. Zacks Investment Research upgraded Morgan Stanley from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a research note on Monday, April 24th. Finally, Citigroup Inc. raised their target price on Morgan Stanley from $44.00 to $46.00 and gave the company a “neutral” rating in a research note on Tuesday, April 25th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Morgan Stanley has a consensus rating of “Buy” and an average price target of $48.02.
In other news, Chairman James P. Gorman sold 212,366 shares of the stock in a transaction that occurred 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 sale, the chairman now owns 1,602,609 shares in the company, valued at $75,739,301.34. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Jonathan Pruzan sold 25,767 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $9,182,329.44. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.
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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