Morgan Stanley (NYSE:MS) Shares Sold by Rhumbline Advisers
Rhumbline Advisers lowered its position in Morgan Stanley (NYSE:MS) by 3.9% during the second quarter, Holdings Channel reports. The fund owned 2,358,072 shares of the financial services provider’s stock after selling 95,715 shares during the period. Rhumbline Advisers’ holdings in Morgan Stanley were worth $105,076,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in MS. Parkside Financial Bank & Trust boosted its stake in 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 bought a new stake in Morgan Stanley during the first quarter worth $106,000. V Wealth Management LLC bought a new stake in Morgan Stanley during the second quarter worth $106,000. FTB Advisors Inc. boosted its stake in 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 last quarter. Finally, State of Alaska Department of Revenue bought a new stake in Morgan Stanley during the first quarter worth $120,000. 85.47% of the stock is currently owned by institutional investors.
Morgan Stanley (NYSE MS) opened at 46.51 on Tuesday. The stock has a market capitalization of $85.42 billion, a price-to-earnings ratio of 13.32 and a beta of 1.63. The company has a 50-day moving average of $46.22 and a 200-day moving average of $44.42. Morgan Stanley has a 52-week low of $29.87 and a 52-week high of $48.90.
Morgan Stanley (NYSE:MS) last issued its earnings results on Wednesday, July 19th. The financial services provider reported $0.87 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.11. Morgan Stanley had a return on equity of 9.83% and a net margin of 16.77%. The firm had revenue of $9.50 billion for the quarter, compared to analyst estimates of $9.05 billion. During the same period last year, the company earned $0.75 earnings per share. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. Equities research analysts expect that Morgan Stanley will post $3.50 EPS for the current year.
Morgan Stanley announced that its Board of Directors has authorized a stock buyback program on Wednesday, June 28th that authorizes the company to repurchase $5.00 billion in outstanding 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 usually a sign that the company’s board of directors believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, July 27th. This is a positive change from Morgan Stanley’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 2.15%. Morgan Stanley’s dividend payout ratio (DPR) is currently 28.65%.
MS has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Morgan Stanley from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a report on Thursday, May 18th. Rafferty Capital Markets reissued a “buy” rating and set a $50.00 price objective on shares of Morgan Stanley in a report on Saturday, April 22nd. J P Morgan Chase & Co reissued a “buy” rating on shares of Morgan Stanley in a report on Tuesday, May 23rd. Instinet reissued a “buy” rating and set a $50.00 price objective (down previously from $51.00) on shares of Morgan Stanley in a report on Saturday, June 3rd. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $50.00 price objective on shares of Morgan Stanley in a report on Tuesday, June 6th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $48.02.
In other Morgan Stanley news, Chairman James P. Gorman sold 212,366 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $47.26, for a total value of $10,036,417.16. Following the sale, the chairman now directly owns 1,602,609 shares of the company’s stock, valued at $75,739,301.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Jonathan Pruzan sold 25,767 shares of the 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 completion of the sale, the chief financial officer now directly owns 196,708 shares in the company, valued at $9,182,329.44. The disclosure for this sale can be found here. 0.24% of the stock is 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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