Morgan Stanley (NYSE:MS) Shares Bought by Covenant Asset Management LLC

Covenant Asset Management LLC raised its stake in Morgan Stanley (NYSE:MS) by 4.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,003 shares of the financial services provider’s stock after acquiring an additional 675 shares during the period. Covenant Asset Management LLC’s holdings in Morgan Stanley were worth $1,452,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. O ROURKE & COMPANY Inc grew its holdings in shares of Morgan Stanley by 3.4% during the 4th quarter. O ROURKE & COMPANY Inc now owns 3,112 shares of the financial services provider’s stock worth $265,000 after purchasing an additional 103 shares in the last quarter. Wolff Wiese Magana LLC grew its holdings in shares of Morgan Stanley by 0.7% during the 1st quarter. Wolff Wiese Magana LLC now owns 15,970 shares of the financial services provider’s stock worth $1,402,000 after purchasing an additional 113 shares in the last quarter. Delta Financial Group Inc. grew its holdings in shares of Morgan Stanley by 3.8% during the 1st quarter. Delta Financial Group Inc. now owns 3,370 shares of the financial services provider’s stock worth $296,000 after purchasing an additional 124 shares in the last quarter. Bard Financial Services Inc. grew its holdings in shares of Morgan Stanley by 1.0% during the 2nd quarter. Bard Financial Services Inc. now owns 12,620 shares of the financial services provider’s stock worth $1,078,000 after purchasing an additional 125 shares in the last quarter. Finally, X Square Capital LLC grew its holdings in shares of Morgan Stanley by 2.7% during the 1st quarter. X Square Capital LLC now owns 5,069 shares of the financial services provider’s stock worth $445,000 after purchasing an additional 131 shares in the last quarter. 83.09% of the stock is currently owned by institutional investors and hedge funds.

Morgan Stanley Trading Up 0.2 %

Shares of MS traded up $0.14 during mid-day trading on Tuesday, reaching $88.85. 825,479 shares of the company were exchanged, compared to its average volume of 7,326,331. Morgan Stanley has a 52 week low of $74.67 and a 52 week high of $100.99. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.78 and a current ratio of 0.78. The stock has a market capitalization of $147.22 billion, a PE ratio of 15.65, a PEG ratio of 2.42 and a beta of 1.35. The business has a 50 day simple moving average of $87.47 and a two-hundred day simple moving average of $86.76.

Morgan Stanley (NYSE:MS) last issued its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. Morgan Stanley had a return on equity of 10.99% and a net margin of 12.19%. The company had revenue of $13.46 billion during the quarter, compared to the consensus estimate of $13.02 billion. During the same period last year, the company earned $1.44 earnings per share. The firm’s revenue was up 2.3% compared to the same quarter last year. On average, analysts predict that Morgan Stanley will post 5.83 earnings per share for the current fiscal year.

Morgan Stanley announced that its Board of Directors has approved a share buyback plan on Friday, June 30th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the financial services provider to buy up to 12.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Morgan Stanley Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st were given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.83%. This is an increase from Morgan Stanley’s previous quarterly dividend of $0.78. The ex-dividend date was Friday, July 28th. Morgan Stanley’s dividend payout ratio (DPR) is 59.96%.

Insider Transactions at Morgan Stanley

In related news, CEO James P. Gorman sold 125,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $92.35, for a total transaction of $11,543,750.00. Following the completion of the sale, the chief executive officer now owns 1,136,345 shares of the company’s stock, valued at $104,941,460.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Raja Akram sold 13,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $92.00, for a total transaction of $1,242,000.00. Following the completion of the sale, the chief financial officer now owns 82,984 shares of the company’s stock, valued at $7,634,528. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James P. Gorman sold 125,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $92.35, for a total value of $11,543,750.00. Following the sale, the chief executive officer now directly owns 1,136,345 shares of the company’s stock, valued at approximately $104,941,460.75. The disclosure for this sale can be found here. Insiders sold 369,100 shares of company stock worth $34,634,996 over the last ninety days. 0.24% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Oppenheimer dropped their price objective on Morgan Stanley from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Friday, August 18th. HSBC assumed coverage on Morgan Stanley in a research report on Thursday, September 7th. They set a “buy” rating and a $99.00 price objective for the company. BMO Capital Markets upped their price objective on Morgan Stanley from $100.00 to $103.00 in a research report on Wednesday, July 19th. Atlantic Securities upped their price objective on Morgan Stanley from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 1st. Finally, Bank of America upped their price objective on Morgan Stanley from $95.00 to $100.00 in a research report on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $96.22.

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.