Lourd Capital LLC increased its position in shares of Morgan Stanley (NYSE:MS) by 6.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,071 shares of the financial services provider’s stock after buying an additional 638 shares during the period. Lourd Capital LLC’s holdings in Morgan Stanley were worth $449,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Parkside Financial Bank & Trust increased its stake in Morgan Stanley by 9.1% in the second quarter. Parkside Financial Bank & Trust now owns 2,275 shares of the financial services provider’s stock worth $101,000 after buying an additional 190 shares in the last quarter. V Wealth Management LLC purchased a new stake in Morgan Stanley during the second quarter worth about $106,000. Invictus RG purchased a new stake in Morgan Stanley during the first quarter worth about $106,000. FTB Advisors Inc. increased its stake in Morgan Stanley by 8.1% in the first quarter. FTB Advisors Inc. now owns 2,605 shares of the financial services provider’s stock worth $112,000 after buying an additional 196 shares in the last quarter. Finally, State of Alaska Department of Revenue purchased a new stake in Morgan Stanley during the first quarter worth about $120,000. Institutional investors own 85.47% of the company’s stock.
Morgan Stanley (MS) traded up 0.67% on Friday, hitting $45.39. The company’s stock had a trading volume of 7,284,026 shares. The firm has a market cap of $83.36 billion, a price-to-earnings ratio of 13.00 and a beta of 1.63. The firm has a 50 day moving average of $46.36 and a 200 day moving average of $44.46. Morgan Stanley has a 12 month low of $30.26 and a 12 month high of $48.90.
Morgan Stanley (NYSE:MS) last released its earnings results on Wednesday, July 19th. The financial services provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.11. The business had revenue of $9.50 billion during the quarter, compared to analysts’ expectations of $9.05 billion. Morgan Stanley had a net margin of 16.77% and a return on equity of 9.83%. The company’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.75 earnings per share. Equities research analysts forecast that Morgan Stanley will post $3.50 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Monday, July 31st were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.20%. 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 is currently 28.65%.
Morgan Stanley declared that its board has authorized a stock repurchase plan on Wednesday, June 28th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 6.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
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MS has been the subject of several recent research reports. J P Morgan Chase & Co reiterated a “buy” rating on shares of Morgan Stanley in a research report on Tuesday, May 23rd. Deutsche Bank AG reiterated a “buy” rating on shares of Morgan Stanley in a research report on Monday, July 3rd. Vetr upgraded Morgan Stanley from a “sell” rating to a “hold” rating and set a $40.50 price target for the company in a research report on Tuesday, May 23rd. Citigroup Inc. lifted their price target on Morgan Stanley from $44.00 to $46.00 and gave the company a “neutral” rating in a research report on Tuesday, April 25th. Finally, HSBC Holdings plc set a $54.00 price objective on Morgan Stanley and gave the company a “hold” rating in a research note on Friday, August 11th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Morgan Stanley currently has a consensus rating of “Buy” and a consensus price target of $48.57.
In related news, Chairman James P. Gorman sold 212,366 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $47.26, for a total transaction 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 approximately $75,739,301.34. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Jonathan Pruzan sold 25,767 shares of the company’s stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $46.68, for a total transaction of $1,202,803.56. Following 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. 0.35% of the stock is currently owned by corporate insiders.
Morgan Stanley Company 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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