Morgan Stanley (NYSE:MS) Shares Sold by World Asset Management Inc
World Asset Management Inc cut its position in shares of Morgan Stanley (NYSE:MS) by 13.6% during the second quarter, according to its most recent filing with the SEC. The fund owned 126,984 shares of the financial services provider’s stock after selling 19,935 shares during the period. World Asset Management Inc’s holdings in Morgan Stanley were worth $5,658,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. 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 period. V Wealth Management LLC acquired a new stake in Morgan Stanley during the second quarter worth $106,000. Invictus RG acquired a new stake in Morgan Stanley during the first 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 period. Finally, State of Alaska Department of Revenue acquired a new stake in Morgan Stanley during the first quarter worth $120,000. Institutional investors and hedge funds own 85.67% of the company’s stock.
Shares of Morgan Stanley (MS) opened at 47.65 on Thursday. The firm has a market capitalization of $87.68 billion, a price-to-earnings ratio of 13.65 and a beta of 1.63. The stock’s 50 day moving average price is $46.07 and its 200 day moving average price is $44.35. Morgan Stanley has a 12-month low of $28.59 and a 12-month high of $48.90. Morgan Stanley also was the target of unusually large options trading on Monday. Investors acquired 6,765 call options on the company. This represents an increase of 381% compared to the typical daily volume of 1,407 call options.
Morgan Stanley (NYSE:MS) last announced its earnings results on Wednesday, July 19th. The financial services provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.11. The business 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%. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.75 EPS. Equities research analysts expect that Morgan Stanley will post $3.52 earnings per share for the current year.
Morgan Stanley declared that its board has initiated a share repurchase program on Wednesday, June 28th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 6.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st will be paid a $0.25 dividend. This is a positive change from Morgan Stanley’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend is Thursday, July 27th. Morgan Stanley’s dividend payout ratio is currently 28.65%.
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A number of research firms recently weighed in on MS. Wells Fargo & Company began coverage on Morgan Stanley in a research note on Wednesday. They issued a “market perform” rating on the stock. Zacks Investment Research cut Morgan Stanley from a “buy” rating to a “hold” rating in a research note on Wednesday, May 24th. J P Morgan Chase & Co restated a “buy” rating and issued a $53.00 price target on shares of Morgan Stanley in a research note on Monday, June 26th. Credit Suisse Group restated a “neutral” rating and issued a $49.00 price target (up previously from $47.00) on shares of Morgan Stanley in a research note on Saturday, July 22nd. Finally, Vetr upgraded Morgan Stanley from a “sell” rating to a “hold” rating and set a $40.50 price target on the stock in a research note on Tuesday, May 23rd. One analyst has rated the stock with a sell rating, nine have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $47.61.
In other news, CFO Jonathan Pruzan sold 25,767 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 196,708 shares in the company, valued at approximately $9,182,329.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman James P. Gorman sold 212,366 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chairman now owns 1,602,609 shares of the company’s stock, valued at $75,739,301.34. The disclosure for this sale can be found here. 0.35% of the stock is 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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