Morgan Stanley (MS) Stake Lessened by State of Tennessee Treasury Department
State of Tennessee Treasury Department decreased its position in Morgan Stanley (NYSE:MS) by 22.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,085,027 shares of the financial services provider’s stock after selling 318,520 shares during the quarter. State of Tennessee Treasury Department owned approximately 0.06% of Morgan Stanley worth $52,267,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Parkside Financial Bank & Trust boosted its holdings in shares of Morgan Stanley by 9.1% in the 2nd 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 position in shares of Morgan Stanley in the 1st quarter worth about $106,000. V Wealth Management LLC purchased a new position in shares of Morgan Stanley in the 2nd quarter worth about $106,000. Omnia Family Wealth LLC boosted its holdings in shares of Morgan Stanley by 5.8% in the 2nd quarter. Omnia Family Wealth LLC now owns 2,429 shares of the financial services provider’s stock worth $108,000 after buying an additional 134 shares during the last quarter. Finally, WFG Advisors LP boosted its holdings in shares of Morgan Stanley by 45.4% in the 2nd quarter. WFG Advisors LP now owns 2,690 shares of the financial services provider’s stock worth $120,000 after buying an additional 840 shares during the last quarter. Hedge funds and other institutional investors own 85.12% of the company’s stock.
In related news, President Thomas Colm Kelleher sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $50.59, for a total value of $2,023,600.00. Following the transaction, the president now directly owns 692,037 shares in the company, valued at $35,010,151.83. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jeffrey S. Brodsky sold 16,397 shares of the company’s stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of $50.07, for a total transaction of $820,997.79. Following the completion of the transaction, the insider now owns 111,776 shares in the company, valued at $5,596,624.32. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.
Shares of Morgan Stanley (MS) traded down $0.11 on Monday, hitting $49.91. The stock had a trading volume of 1,712,984 shares, compared to its average volume of 8,438,097. Morgan Stanley has a 12-month low of $32.56 and a 12-month high of $51.52. The company has a market capitalization of $90,431.11, a PE ratio of 13.86, a PEG ratio of 1.15 and a beta of 1.66. The company has a debt-to-equity ratio of 2.58, a quick ratio of 0.73 and a current ratio of 0.73.
Morgan Stanley (NYSE:MS) last announced its quarterly earnings results on Tuesday, October 17th. The financial services provider reported $0.93 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.12. Morgan Stanley had a return on equity of 10.11% and a net margin of 16.76%. The firm had revenue of $9.20 billion for the quarter, compared to analysts’ expectations of $9.05 billion. During the same period in the prior year, the business posted $0.80 earnings per share. The company’s revenue was up 3.2% on a year-over-year basis. equities analysts expect that Morgan Stanley will post 3.57 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Monday, October 30th. Morgan Stanley’s dividend payout ratio is presently 27.70%.
MS has been the topic of a number of research analyst reports. Zacks Investment Research downgraded shares of Morgan Stanley from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Credit Suisse Group raised shares of Morgan Stanley from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $49.00 to $54.00 in a report on Monday, October 9th. ValuEngine downgraded shares of Morgan Stanley from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Wells Fargo & Company initiated coverage on shares of Morgan Stanley in a report on Wednesday, August 9th. They issued a “market perform” rating and a $48.00 price target on the stock. Finally, Buckingham Research boosted their price target on shares of Morgan Stanley from $54.00 to $57.00 and gave the stock a “buy” rating in a report on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $50.39.
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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