Mirae Asset Global Investments Co. Ltd. increased its holdings in Morgan Stanley (NYSE:MS – Get Rating) by 18.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 206,296 shares of the financial services provider’s stock after acquiring an additional 32,513 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Morgan Stanley were worth $18,031,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the business. State Street Corp increased its stake in Morgan Stanley by 2.1% in the 4th quarter. State Street Corp now owns 130,520,155 shares of the financial services provider’s stock valued at $12,811,858,000 after buying an additional 2,714,510 shares during the period. Vanguard Group Inc. increased its stake in Morgan Stanley by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 119,462,176 shares of the financial services provider’s stock valued at $10,440,994,000 after buying an additional 1,524,370 shares during the period. Capital Research Global Investors increased its stake in Morgan Stanley by 100.7% in the 1st 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 buying an additional 13,367,310 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Morgan Stanley by 11.5% in the 1st 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 buying an additional 2,274,156 shares during the period. Finally, Capital International Investors increased its stake in Morgan Stanley by 696.5% in the 1st quarter. Capital International Investors now owns 20,756,931 shares of the financial services provider’s stock valued at $1,814,480,000 after buying an additional 18,150,967 shares during the period. 83.36% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities analysts have issued reports on MS shares. Oppenheimer dropped their price objective on shares of Morgan Stanley from $97.00 to $93.00 and set an “outperform” rating on the stock in a research note on Friday, July 15th. Credit Suisse Group lowered their price target on shares of Morgan Stanley from $100.00 to $95.00 and set an “outperform” rating on the stock in a research note on Monday, July 4th. Wells Fargo & Company lowered their price target on shares of Morgan Stanley from $91.00 to $83.00 and set an “equal weight” rating on the stock in a research note on Friday, July 1st. Odeon Capital Group cut shares of Morgan Stanley from a “hold” rating to a “sell” rating in a research note on Tuesday, September 6th. Finally, Piper Sandler lowered their price target on shares of Morgan Stanley from $100.00 to $90.00 and set a “neutral” rating on the stock in a research note on Friday, July 1st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $100.08.
Insider Transactions at Morgan Stanley
Morgan Stanley Price Performance
NYSE:MS opened at $87.43 on Friday. The firm has a market cap of $150.10 billion, a price-to-earnings ratio of 11.81, a price-to-earnings-growth ratio of 1.65 and a beta of 1.38. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 2.38. The company’s 50-day moving average is $85.41 and its two-hundred day moving average is $84.10. Morgan Stanley has a 12-month low of $72.05 and a 12-month high of $109.73.
Morgan Stanley (NYSE:MS – Get Rating) last released its earnings results on Thursday, July 14th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.32). The firm had revenue of $13.13 billion during the quarter, compared to analysts’ expectations of $13.50 billion. Morgan Stanley had a net margin of 22.76% and a return on equity of 14.33%. Morgan Stanley’s revenue for the quarter was down 11.0% on a year-over-year basis. During the same quarter last year, the company posted $1.89 earnings per share. Research analysts expect that Morgan Stanley will post 6.69 EPS for the current year.
Morgan Stanley Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 15th. Stockholders of record on Friday, July 29th were issued a dividend of $0.775 per share. This is a positive change from Morgan Stanley’s previous quarterly dividend of $0.70. This represents a $3.10 annualized dividend and a dividend yield of 3.55%. The ex-dividend date of this dividend was Thursday, July 28th. Morgan Stanley’s dividend payout ratio is presently 41.89%.
Morgan Stanley declared that its Board of Directors has authorized a stock buyback program on Monday, June 27th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 14.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.
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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