TD Asset Management Inc. Increases Stake in Morgan Stanley (NYSE:MS)
TD Asset Management Inc. boosted its position in Morgan Stanley (NYSE:MS) by 14.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,026,978 shares of the financial services provider’s stock after buying an additional 629,566 shares during the period. TD Asset Management Inc.’s holdings in Morgan Stanley were worth $224,002,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Parkside Financial Bank & Trust increased its position 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. Invictus RG purchased a new position in Morgan Stanley during the first quarter worth $106,000. V Wealth Management LLC purchased a new position in Morgan Stanley during the second quarter worth $106,000. FTB Advisors Inc. increased its position 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 purchased a new position in Morgan Stanley during the first quarter worth $120,000. 85.67% of the stock is currently owned by institutional investors and hedge funds.
Morgan Stanley (NYSE:MS) opened at 45.65 on Friday. The firm’s 50-day moving average price is $46.14 and its 200 day moving average price 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 has a one year low of $29.31 and a one year high of $48.90.
Morgan Stanley (NYSE:MS) last issued its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.11. Morgan Stanley had a net margin of 16.77% and a return on equity of 9.83%. The firm had revenue of $9.50 billion during the quarter, compared to the consensus estimate of $9.05 billion. During the same quarter in the previous year, the firm posted $0.75 EPS. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. On average, equities research analysts expect that Morgan Stanley will post $3.50 earnings per share for the current fiscal year.
Morgan Stanley announced that its Board of Directors has initiated a share repurchase plan on Wednesday, June 28th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 6.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st will be given a dividend of $0.25 per share. This is an increase from Morgan Stanley’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.19%. Morgan Stanley’s payout ratio is presently 28.65%.
Several analysts have recently commented on the company. J P Morgan Chase & Co reissued a “buy” rating on shares of Morgan Stanley in a research note on Tuesday, May 23rd. Deutsche Bank AG reissued a “buy” rating on shares of Morgan Stanley in a research note on Monday, July 3rd. Vetr raised Morgan Stanley from a “sell” rating to a “hold” rating and set a $40.50 price objective for the company in a research note on Tuesday, May 23rd. Citigroup Inc. increased their price objective on Morgan Stanley from $44.00 to $46.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 25th. Finally, HSBC Holdings plc set a $54.00 price objective on Morgan Stanley and gave the stock a “hold” rating in a research note on Friday. One research 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 company’s stock. Morgan Stanley currently has a consensus rating of “Buy” and a consensus price target of $48.02.
In other news, Chairman James P. Gorman sold 212,366 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $75,739,301.34. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Jonathan Pruzan sold 25,767 shares of the business’s stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $46.68, for a total transaction of $1,202,803.56. Following the sale, the chief financial officer now directly owns 196,708 shares of the company’s stock, valued at approximately $9,182,329.44. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.
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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