Ritholtz Wealth Management increased its holdings in Morgan Stanley (NYSE:MS – Get Rating) by 3.7% during the second quarter, Holdings Channel reports. The firm owned 26,859 shares of the financial services provider’s stock after purchasing an additional 955 shares during the period. Ritholtz Wealth Management’s holdings in Morgan Stanley were worth $2,043,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. State Street Corp grew its position in Morgan Stanley by 2.1% during the fourth quarter. State Street Corp now owns 130,520,155 shares of the financial services provider’s stock valued at $12,811,858,000 after purchasing an additional 2,714,510 shares in the last quarter. Vanguard Group Inc. grew its position in Morgan Stanley by 1.3% during the first quarter. Vanguard Group Inc. now owns 119,462,176 shares of the financial services provider’s stock valued at $10,440,994,000 after purchasing an additional 1,524,370 shares in the last quarter. Capital Research Global Investors grew its position in Morgan Stanley by 100.7% during the first quarter. Capital Research Global Investors now owns 26,638,524 shares of the financial services provider’s stock valued at $2,328,216,000 after purchasing an additional 13,367,310 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Morgan Stanley by 11.5% in the first quarter. Massachusetts Financial Services Co. MA now owns 22,052,848 shares of the financial services provider’s stock valued at $1,927,420,000 after acquiring an additional 2,274,156 shares during the last quarter. Finally, Capital International Investors lifted its stake in Morgan Stanley by 696.5% in the first quarter. Capital International Investors now owns 20,756,931 shares of the financial services provider’s stock valued at $1,814,480,000 after acquiring an additional 18,150,967 shares during the last quarter. 83.36% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Morgan Stanley
In other Morgan Stanley news, major shareholder Stanley Morgan bought 8,598 shares of the business’s stock in a transaction on Thursday, July 28th. The shares were bought at an average cost of $8.41 per share, for a total transaction of $72,309.18. Following the transaction, the insider now owns 8,598 shares in the company, valued at approximately $72,309.18. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.26% of the company’s stock.
Morgan Stanley Price Performance
Morgan Stanley (NYSE:MS – Get Rating) last issued its quarterly earnings data on Thursday, July 14th. The financial services provider reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.11). Morgan Stanley had a return on equity of 14.33% and a net margin of 22.76%. The company had revenue of $13.13 billion for the quarter, compared to the consensus estimate of $13.50 billion. During the same period in the prior year, the company earned $1.89 EPS. The firm’s revenue was down 11.0% compared to the same quarter last year. On average, analysts anticipate that Morgan Stanley will post 6.69 EPS for the current year.
Morgan Stanley announced that its board has initiated a share repurchase program on Monday, June 27th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 14.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.
Morgan Stanley Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, August 15th. Shareholders of record on Friday, July 29th were given a dividend of $0.775 per share. The ex-dividend date of this dividend was Thursday, July 28th. This is an increase from Morgan Stanley’s previous quarterly dividend of $0.70. This represents a $3.10 dividend on an annualized basis and a yield of 3.81%. Morgan Stanley’s dividend payout ratio is presently 41.89%.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on MS shares. Oppenheimer reduced their price objective on shares of Morgan Stanley from $97.00 to $93.00 and set an “outperform” rating for the company in a research note on Friday, July 15th. Piper Sandler reduced their price objective on shares of Morgan Stanley from $100.00 to $90.00 and set a “neutral” rating for the company in a research note on Friday, July 1st. Credit Suisse Group upped their target price on shares of Morgan Stanley from $95.00 to $97.00 and gave the company an “outperform” rating in a research note on Wednesday. Wells Fargo & Company cut their target price on shares of Morgan Stanley from $91.00 to $83.00 and set an “equal weight” rating for the company in a research note on Friday, July 1st. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Morgan Stanley from $105.00 to $92.00 and set a “hold” rating for the company in a research note on Monday, September 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Morgan Stanley has an average rating of “Hold” and a consensus price target of $99.38.
Morgan Stanley 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. It operates through Institutional Securities, Wealth Management, and Investment Management segments.
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