Advisory Services Network LLC grew its stake in Morgan Stanley (NYSE:MS – Get Rating) by 1.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,074 shares of the financial services provider’s stock after purchasing an additional 437 shares during the quarter. Advisory Services Network LLC’s holdings in Morgan Stanley were worth $2,190,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of MS. AIA Group Ltd raised its stake in Morgan Stanley by 50.7% during the first quarter. AIA Group Ltd now owns 9,423 shares of the financial services provider’s stock worth $824,000 after acquiring an additional 3,171 shares during the period. Private Trust Co. NA raised its stake in Morgan Stanley by 15.5% during the first quarter. Private Trust Co. NA now owns 9,584 shares of the financial services provider’s stock worth $838,000 after acquiring an additional 1,283 shares during the period. Signaturefd LLC raised its stake in Morgan Stanley by 1.8% during the first quarter. Signaturefd LLC now owns 23,755 shares of the financial services provider’s stock worth $2,076,000 after acquiring an additional 415 shares during the period. Northwest Bancshares Inc. grew its position in Morgan Stanley by 28.4% in the 1st quarter. Northwest Bancshares Inc. now owns 2,709 shares of the financial services provider’s stock worth $237,000 after purchasing an additional 600 shares during the last quarter. Finally, Wealth Advisors of Iowa LLC bought a new position in Morgan Stanley in the 4th quarter worth about $270,000. Institutional investors and hedge funds own 83.36% of the company’s stock.
Insider Buying and Selling at Morgan Stanley
In other news, major shareholder Stanley Morgan bought 8,598 shares of the stock in a transaction on Thursday, July 28th. The shares were purchased at an average price of $8.41 per share, for a total transaction of $72,309.18. Following the completion of the purchase, the insider now directly owns 8,598 shares of the company’s stock, valued at approximately $72,309.18. The purchase was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.26% of the company’s stock.
Morgan Stanley Stock Performance
Morgan Stanley (NYSE:MS – Get Rating) last issued its quarterly earnings results on Thursday, July 14th. The financial services provider reported $1.39 earnings per share for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.32). Morgan Stanley had a net margin of 22.76% and a return on equity of 14.33%. The business had revenue of $13.13 billion for the quarter, compared to analysts’ expectations of $13.50 billion. During the same quarter in the prior year, the firm posted $1.89 EPS. The business’s quarterly revenue was down 11.0% compared to the same quarter last year. On average, sell-side analysts predict that Morgan Stanley will post 6.69 earnings per share for the current fiscal year.
Morgan Stanley declared that its board has authorized a stock 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 reacquire up to 14.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
Morgan Stanley Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, August 15th. Shareholders of record on Friday, July 29th were paid a $0.775 dividend. The ex-dividend date of this dividend was Thursday, July 28th. This represents a $3.10 dividend on an annualized basis and a yield of 3.55%. This is an increase from Morgan Stanley’s previous quarterly dividend of $0.70. Morgan Stanley’s payout ratio is 41.89%.
Wall Street Analyst Weigh In
Several research analysts have commented on the stock. Barclays decreased their target price on shares of Morgan Stanley from $123.00 to $108.00 and set an “overweight” rating for the company in a research report on Friday, July 15th. BMO Capital Markets decreased their target price on shares of Morgan Stanley from $105.00 to $99.00 in a research report on Friday, July 15th. Piper Sandler decreased their target price on shares of Morgan Stanley from $100.00 to $90.00 and set a “neutral” rating for the company in a research report on Friday, July 1st. Wells Fargo & Company decreased 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 report on Friday, July 1st. Finally, Odeon Capital Group cut shares of Morgan Stanley from a “hold” rating to a “sell” rating in a report on Tuesday, September 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $100.08.
About Morgan Stanley
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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