Supplemental Annuity Collective Trust of NJ Has $1,377,000 Position in Morgan Stanley (MS)
Supplemental Annuity Collective Trust of NJ held its stake in Morgan Stanley (NYSE:MS) during the second quarter, Holdings Channel reports. The institutional investor owned 30,903 shares of the financial services provider’s stock at the end of the second quarter. Supplemental Annuity Collective Trust of NJ’s holdings in Morgan Stanley were worth $1,377,000 as of its most recent filing with the SEC.
A number of other hedge funds 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 in the last quarter. Invictus RG acquired a new stake in Morgan Stanley during the first quarter worth $106,000. V Wealth Management LLC acquired 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 in the last quarter. Finally, State of Alaska Department of Revenue acquired a new stake in Morgan Stanley during the first quarter worth $120,000. Institutional investors own 85.67% of the company’s stock.
Shares of Morgan Stanley (NYSE:MS) opened at 47.65 on Thursday. Morgan Stanley has a one year low of $28.86 and a one year high of $48.90. The stock has a market cap of $87.68 billion, a price-to-earnings ratio of 13.65 and a beta of 1.63. The firm has a 50-day moving average price of $46.07 and a 200-day moving average price of $44.35. Morgan Stanley also saw some unusual options trading activity on Monday. Investors bought 6,765 call options on the stock. This represents an increase of approximately 381% compared to the average volume of 1,407 call options.
Morgan Stanley (NYSE:MS) last announced its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.76 by $0.11. Morgan Stanley had a net margin of 16.77% and a return on equity of 9.83%. The company had revenue of $9.50 billion for the quarter, compared to analyst estimates of $9.05 billion. During the same quarter last year, the business earned $0.75 earnings per share. Morgan Stanley’s revenue was up 6.7% compared to the same quarter last year. Analysts anticipate that Morgan Stanley will post $3.52 earnings per share for the current fiscal year.
Morgan Stanley declared that its board has approved a share buyback plan on Wednesday, June 28th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 6.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The company also recently declared 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. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $1.00 annualized dividend and a dividend yield of 2.10%. This is a positive change from Morgan Stanley’s previous quarterly dividend of $0.20. Morgan Stanley’s dividend payout ratio (DPR) is presently 28.65%.
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A number of analysts have weighed in on MS shares. Zacks Investment Research upgraded Morgan Stanley from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research note on Thursday, May 18th. Rafferty Capital Markets restated a “buy” rating and issued a $50.00 price target on shares of Morgan Stanley in a research note on Saturday, April 22nd. J P Morgan Chase & Co restated a “buy” rating on shares of Morgan Stanley in a research note on Tuesday, May 23rd. Instinet restated a “buy” rating and issued a $50.00 price target (down from $51.00) on shares of Morgan Stanley in a research note on Saturday, June 3rd. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $50.00 price target on shares of Morgan Stanley in a research note on Tuesday, June 6th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $47.61.
In other Morgan Stanley news, CFO Jonathan Pruzan sold 25,767 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 196,708 shares in the company, valued at $9,182,329.44. The sale 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 firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $47.26, for a total transaction of $10,036,417.16. Following the completion of the sale, the chairman now owns 1,602,609 shares in the company, valued at approximately $75,739,301.34. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by company 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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