Pacer Advisors Inc. reduced its stake in shares of Morgan Stanley (NYSE:MS – Free Report) by 18.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 108,185 shares of the financial services provider’s stock after selling 24,326 shares during the period. Pacer Advisors Inc.’s holdings in Morgan Stanley were worth $12,622,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the stock. Capital Research Global Investors boosted its position in Morgan Stanley by 44.8% during the fourth quarter. Capital Research Global Investors now owns 21,794,873 shares of the financial services provider’s stock worth $2,740,051,000 after purchasing an additional 6,744,333 shares in the last quarter. GAMMA Investing LLC boosted its position in Morgan Stanley by 12,318.0% during the first quarter. GAMMA Investing LLC now owns 2,750,845 shares of the financial services provider’s stock worth $320,941,000 after purchasing an additional 2,728,693 shares in the last quarter. FMR LLC boosted its position in shares of Morgan Stanley by 11.9% in the 4th quarter. FMR LLC now owns 25,561,560 shares of the financial services provider’s stock worth $3,213,599,000 after buying an additional 2,725,335 shares in the last quarter. Schroder Investment Management Group boosted its position in shares of Morgan Stanley by 50.8% in the 4th quarter. Schroder Investment Management Group now owns 7,282,156 shares of the financial services provider’s stock worth $915,731,000 after buying an additional 2,453,470 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Morgan Stanley by 20.0% in the 4th quarter. Northern Trust Corp now owns 13,403,197 shares of the financial services provider’s stock worth $1,685,050,000 after buying an additional 2,233,589 shares in the last quarter. 84.19% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other news, insider Charles A. Smith sold 20,000 shares of the firm’s stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $140.30, for a total value of $2,806,000.00. Following the transaction, the insider directly owned 119,239 shares in the company, valued at $16,729,231.70. This trade represents a 14.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Daniel A. Simkowitz sold 29,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $141.13, for a total transaction of $4,092,770.00. Following the completion of the transaction, the insider owned 399,105 shares in the company, valued at $56,325,688.65. The trade was a 6.77% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 188,949 shares of company stock worth $25,737,084. Corporate insiders own 0.19% of the company’s stock.
Morgan Stanley Trading Up 0.4%
Morgan Stanley (NYSE:MS – Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $2.13 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.15. The business had revenue of $16.79 billion for the quarter, compared to analyst estimates of $16.15 billion. Morgan Stanley had a net margin of 13.06% and a return on equity of 15.33%. The company’s revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.82 EPS. As a group, equities analysts forecast that Morgan Stanley will post 8.56 EPS for the current year.
Morgan Stanley declared that its Board of Directors has approved a share buyback plan on Tuesday, July 1st that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 8.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.
Morgan Stanley Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 31st will be given a $1.00 dividend. This is a positive change from Morgan Stanley’s previous quarterly dividend of $0.93. This represents a $4.00 annualized dividend and a dividend yield of 2.80%. The ex-dividend date of this dividend is Thursday, July 31st. Morgan Stanley’s dividend payout ratio (DPR) is 41.90%.
Wall Street Analyst Weigh In
Several analysts have issued reports on the stock. Erste Group Bank raised shares of Morgan Stanley from a “hold” rating to a “strong-buy” rating in a report on Saturday, May 24th. The Goldman Sachs Group upped their target price on Morgan Stanley from $121.00 to $136.00 and gave the company a “neutral” rating in a research note on Tuesday, June 10th. Evercore ISI reduced their target price on Morgan Stanley from $150.00 to $138.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 1st. JPMorgan Chase & Co. reduced their price objective on Morgan Stanley from $125.00 to $122.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Finally, Keefe, Bruyette & Woods upgraded Morgan Stanley from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $127.00 to $160.00 in a research report on Wednesday, July 9th. Nine equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $138.25.
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. It operates through Institutional Securities, Wealth Management, and Investment Management segments.
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