Mitsubishi UFJ Trust & Banking Corp decreased its position in Morgan Stanley (NYSE:MS) by 12.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 861,164 shares of the financial services provider’s stock after selling 126,186 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Morgan Stanley were worth $78,339,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently made changes to their positions in the business. Xponance Inc. lifted its holdings in shares of Morgan Stanley by 0.4% during the second quarter. Xponance Inc. now owns 127,803 shares of the financial services provider’s stock valued at $11,718,000 after purchasing an additional 460 shares in the last quarter. Pekin Hardy Strauss Inc. lifted its holdings in Morgan Stanley by 2.9% in the second quarter. Pekin Hardy Strauss Inc. now owns 6,983 shares of the financial services provider’s stock valued at $640,000 after acquiring an additional 200 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in Morgan Stanley in the second quarter worth about $212,000. Connor Clark & Lunn Investment Management Ltd. increased its position in Morgan Stanley by 102.8% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 249,601 shares of the financial services provider’s stock worth $22,886,000 after buying an additional 126,508 shares in the last quarter. Finally, Ten Capital Wealth Advisors LLC increased its position in Morgan Stanley by 69.5% in the second quarter. Ten Capital Wealth Advisors LLC now owns 473 shares of the financial services provider’s stock worth $43,000 after buying an additional 194 shares in the last quarter. Hedge funds and other institutional investors own 84.72% of the company’s stock.
In other news, CFO Sharon Yeshaya sold 2,500 shares of Morgan Stanley stock in a transaction on Wednesday, July 21st. The stock was sold at an average price of $95.64, for a total value of $239,100.00. Following the transaction, the chief financial officer now directly owns 24,895 shares in the company, valued at approximately $2,380,957.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Andrew M. Saperstein sold 11,465 shares of Morgan Stanley stock in a transaction on Friday, July 16th. The shares were sold at an average price of $92.97, for a total value of $1,065,901.05. The disclosure for this sale can be found here. Insiders have sold a total of 25,430 shares of company stock worth $2,370,902 over the last 90 days. 0.23% of the stock is currently owned by company insiders.
Morgan Stanley (NYSE:MS) last released its quarterly earnings data on Wednesday, July 14th. The financial services provider reported $1.85 EPS for the quarter, topping the consensus estimate of $1.63 by $0.22. The company had revenue of $14.76 billion for the quarter, compared to the consensus estimate of $13.99 billion. Morgan Stanley had a return on equity of 14.86% and a net margin of 23.89%. Morgan Stanley’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period last year, the business posted $1.96 EPS. As a group, sell-side analysts predict that Morgan Stanley will post 7.46 earnings per share for the current fiscal year.
Morgan Stanley declared that its Board of Directors has authorized a stock buyback program on Monday, June 28th that allows the company to buyback $12.00 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 7.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 13th. Shareholders of record on Friday, July 30th were issued a dividend of $0.70 per share. This is an increase from Morgan Stanley’s previous quarterly dividend of $0.35. This represents a $2.80 annualized dividend and a yield of 2.84%. The ex-dividend date was Thursday, July 29th. Morgan Stanley’s dividend payout ratio (DPR) is presently 42.55%.
Several analysts recently issued reports on MS shares. Piper Sandler increased their target price on Morgan Stanley from $93.00 to $100.00 and gave the stock a “neutral” rating in a research report on Friday, July 16th. Bank of America raised their price target on Morgan Stanley from $92.00 to $105.00 and gave the company a “buy” rating in a report on Friday, June 4th. Seaport Res Ptn cut Morgan Stanley from a “buy” rating to a “neutral” rating in a report on Friday, August 13th. Zacks Investment Research cut Morgan Stanley from a “buy” rating to a “hold” rating and set a $97.00 price target for the company. in a report on Wednesday, June 16th. Finally, Evercore ISI restated a “buy” rating and set a $103.00 price target on shares of Morgan Stanley in a report on Friday, July 2nd. Eight analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $95.74.
Morgan Stanley Company Profile
Morgan Stanley operates as a global financial services company. The firm provides investment banking products and services to its clients and customers including corporations, governments, financial institutions, and individuals. It operates through the following segments: Institutional Securities, Wealth Management, and Investment Management.
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