People s United Financial Inc. Decreases Position in Morgan Stanley (MS)
People s United Financial Inc. cut its position in shares of Morgan Stanley (NYSE:MS) by 5.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 49,142 shares of the financial services provider’s stock after selling 3,095 shares during the quarter. People s United Financial Inc.’s holdings in Morgan Stanley were worth $2,289,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the business. BlackRock Inc. grew its stake in Morgan Stanley by 3.1% in the second quarter. BlackRock Inc. now owns 109,110,758 shares of the financial services provider’s stock valued at $5,171,848,000 after purchasing an additional 3,264,493 shares in the last quarter. FMR LLC grew its stake in Morgan Stanley by 4.4% in the second quarter. FMR LLC now owns 45,817,038 shares of the financial services provider’s stock valued at $2,171,728,000 after purchasing an additional 1,936,093 shares in the last quarter. ValueAct Holdings L.P. grew its stake in Morgan Stanley by 4.2% in the second quarter. ValueAct Holdings L.P. now owns 18,709,620 shares of the financial services provider’s stock valued at $886,836,000 after purchasing an additional 750,000 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Morgan Stanley by 1.9% in the second quarter. Dimensional Fund Advisors LP now owns 11,754,253 shares of the financial services provider’s stock valued at $557,223,000 after purchasing an additional 213,537 shares in the last quarter. Finally, Pzena Investment Management LLC grew its stake in Morgan Stanley by 0.6% in the second quarter. Pzena Investment Management LLC now owns 8,247,266 shares of the financial services provider’s stock valued at $390,920,000 after purchasing an additional 47,260 shares in the last quarter. Hedge funds and other institutional investors own 85.08% of the company’s stock.
Several brokerages have recently commented on MS. UBS Group upgraded Morgan Stanley from a “market perform” rating to an “outperform” rating in a research note on Tuesday, October 16th. JPMorgan Chase & Co. reiterated a “buy” rating and set a $62.00 target price on shares of Morgan Stanley in a research note on Monday, September 10th. Wolfe Research started coverage on Morgan Stanley in a research note on Tuesday, September 25th. They set an “outperform” rating for the company. Wells Fargo & Co raised Morgan Stanley from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $56.00 to $60.00 in a report on Wednesday, October 24th. Finally, Zacks Investment Research cut Morgan Stanley from a “hold” rating to a “sell” rating in a report on Friday, September 21st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the stock. Morgan Stanley currently has a consensus rating of “Buy” and an average price target of $58.53.
Shares of NYSE MS opened at $42.61 on Friday. The firm has a market capitalization of $74.17 billion, a price-to-earnings ratio of 11.84, a P/E/G ratio of 0.74 and a beta of 1.25. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 2.67. Morgan Stanley has a fifty-two week low of $40.98 and a fifty-two week high of $59.38.
Morgan Stanley (NYSE:MS) last announced its quarterly earnings data on Tuesday, October 16th. The financial services provider reported $1.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.16. The firm had revenue of $9.87 billion during the quarter, compared to analysts’ expectations of $9.55 billion. Morgan Stanley had a return on equity of 12.51% and a net margin of 15.93%. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.93 EPS. As a group, equities research analysts forecast that Morgan Stanley will post 4.94 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Wednesday, October 31st were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, October 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.82%. Morgan Stanley’s dividend payout ratio (DPR) is currently 33.33%.
Morgan Stanley Company Profile
Morgan Stanley, a financial holding company, provides various financial products and services to corporations, governments, financial institutions, and individuals in the Americas, Europe, the Middle East, Africa, and Asia. The company operates Institutional Securities, Wealth Management, and Investment Management segments.
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