Seven Bridges Advisors LLC Has $1.02 Million Position in Morgan Stanley (NYSE:MS)
Seven Bridges Advisors LLC lowered its stake in shares of Morgan Stanley (NYSE:MS) by 19.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,846 shares of the financial services provider’s stock after selling 5,611 shares during the period. Seven Bridges Advisors LLC’s holdings in Morgan Stanley were worth $1,018,000 as of its most recent filing with the SEC.
A number of other large investors have also recently made changes to their positions in MS. Advisor Partners LLC boosted its stake in shares of Morgan Stanley by 10.0% in the second quarter. Advisor Partners LLC now owns 30,797 shares of the financial services provider’s stock valued at $1,372,000 after buying an additional 2,799 shares during the last quarter. TD Asset Management Inc. boosted its stake in shares of Morgan Stanley by 14.3% in the second quarter. TD Asset Management Inc. now owns 5,026,978 shares of the financial services provider’s stock valued at $224,002,000 after buying an additional 629,566 shares during the last quarter. Tdam USA Inc. boosted its stake in shares of Morgan Stanley by 2,534.8% in the second quarter. Tdam USA Inc. now owns 261,797 shares of the financial services provider’s stock valued at $11,715,000 after buying an additional 251,861 shares during the last quarter. AT Bancorp boosted its stake in shares of Morgan Stanley by 184.5% in the second quarter. AT Bancorp now owns 16,430 shares of the financial services provider’s stock valued at $732,000 after buying an additional 10,654 shares during the last quarter. Finally, IFP Advisors Inc boosted its stake in shares of Morgan Stanley by 14.4% in the second quarter. IFP Advisors Inc now owns 30,836 shares of the financial services provider’s stock valued at $1,374,000 after buying an additional 3,885 shares during the last quarter. 85.67% of the stock is owned by institutional investors and hedge funds.
Shares of Morgan Stanley (NYSE MS) opened at 45.65 on Friday. Morgan Stanley has a 1-year low of $29.31 and a 1-year high of $48.90. The firm’s 50-day moving average is $46.14 and its 200-day moving average is $44.39. The company has a market capitalization of $83.84 billion, a price-to-earnings ratio of 13.08 and a beta of 1.63.
Morgan Stanley (NYSE:MS) last announced its earnings results on Wednesday, July 19th. The financial services provider reported $0.87 EPS for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.11. The business had revenue of $9.50 billion during the quarter, compared to the consensus estimate of $9.05 billion. Morgan Stanley had a net margin of 16.77% and a return on equity of 9.83%. The firm’s revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.75 earnings per share. Analysts forecast that Morgan Stanley will post $3.50 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st will be issued a $0.25 dividend. The ex-dividend date is Thursday, July 27th. This is an increase from Morgan Stanley’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a yield of 2.19%. Morgan Stanley’s payout ratio is currently 28.65%.
Morgan Stanley declared that its Board of Directors has approved a share buyback 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 purchase up to 6.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
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Several brokerages have weighed in on MS. HSBC Holdings plc set a $54.00 price target on shares of Morgan Stanley and gave the company a “hold” rating in a research report on Friday. Wells Fargo & Company began coverage on shares of Morgan Stanley in a research report on Wednesday. They set a “market perform” rating and a $48.00 price target for the company. Zacks Investment Research raised shares of Morgan Stanley from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Macquarie reissued an “outperform” rating and set a $52.00 price target (up previously from $51.00) on shares of Morgan Stanley in a research report on Saturday, July 22nd. Finally, Credit Suisse Group reissued a “neutral” rating and set a $49.00 price target (up previously from $47.00) on shares of Morgan Stanley in a research report on Saturday, July 22nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $48.02.
In other Morgan Stanley news, CFO Jonathan Pruzan sold 25,767 shares of the business’s stock in a transaction dated Thursday, July 20th. The shares were 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 $9,182,329.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman James P. Gorman sold 212,366 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $47.26, for a total transaction 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. Insiders own 0.35% of the company’s stock.
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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