Wharton Business Group LLC maintained its position in Morgan Stanley (NYSE:MS) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,794 shares of the financial services provider’s stock at the end of the second quarter. Wharton Business Group LLC’s holdings in Morgan Stanley were worth $303,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Parkside Financial Bank & Trust lifted its position in shares of Morgan Stanley by 9.1% during the 2nd quarter. Parkside Financial Bank & Trust now owns 2,275 shares of the financial services provider’s stock valued at $101,000 after buying an additional 190 shares in the last quarter. V Wealth Management LLC bought a new stake in Morgan Stanley during the 2nd quarter valued at approximately $106,000. Omnia Family Wealth LLC raised its stake in Morgan Stanley by 5.8% during the 2nd quarter. Omnia Family Wealth LLC now owns 2,429 shares of the financial services provider’s stock valued at $108,000 after purchasing an additional 134 shares during the period. Invictus RG bought a new stake in Morgan Stanley during the 1st quarter valued at approximately $106,000. Finally, FTB Advisors Inc. raised its stake in Morgan Stanley by 8.1% during the 1st quarter. FTB Advisors Inc. now owns 2,605 shares of the financial services provider’s stock valued at $112,000 after purchasing an additional 196 shares during the period. 85.20% of the stock is currently owned by hedge funds and other institutional investors.
Morgan Stanley (NYSE:MS) traded up 2.18% during trading on Monday, hitting $44.97. The stock had a trading volume of 2,870,255 shares. The company’s 50 day moving average is $46.22 and its 200-day moving average is $44.51. The company has a market cap of $82.59 billion, a PE ratio of 12.88 and a beta of 1.63. Morgan Stanley has a 12 month low of $30.62 and a 12 month high of $48.90.
Morgan Stanley (NYSE:MS) last posted 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 return on equity of 9.83% and a net margin of 16.77%. The firm had revenue of $9.50 billion during the quarter, compared to analysts’ expectations of $9.05 billion. During the same quarter last year, the firm earned $0.75 earnings per share. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. On average, equities research analysts predict that Morgan Stanley will post $3.50 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Monday, July 31st were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend was Thursday, July 27th. This is a boost from Morgan Stanley’s previous quarterly dividend of $0.20. Morgan Stanley’s dividend payout ratio (DPR) is currently 28.65%.
Morgan Stanley announced that its board has initiated a stock repurchase program on Wednesday, June 28th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to buy up to 6.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
In related news, Chairman James P. Gorman sold 212,366 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $47.26, for a total value 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 $75,739,301.34. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Jonathan Pruzan sold 25,767 shares of the 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 completion of 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. 0.24% of the stock is currently owned by company insiders.
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Several analysts recently issued reports on MS shares. Zacks Investment Research raised Morgan Stanley from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Tuesday, June 13th. BMO Capital Markets lifted their target price on Morgan Stanley from $58.00 to $61.00 and gave the company an “outperform” rating in a research note on Thursday, July 20th. ValuEngine downgraded Morgan Stanley from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. Vetr raised Morgan Stanley from a “sell” rating to a “hold” rating and set a $40.50 target price on the stock in a research note on Wednesday, May 17th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $50.00 target price on shares of Morgan Stanley in a research note on Tuesday, June 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $48.52.
Morgan Stanley 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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