Davidson Investment Advisors reduced its stake in Morgan Stanley (NYSE:MS) by 8.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,419 shares of the financial services provider’s stock after selling 565 shares during the quarter. Davidson Investment Advisors’ holdings in Morgan Stanley were worth $589,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Evercore Wealth Management LLC raised its position in Morgan Stanley by 0.6% in the 1st quarter. Evercore Wealth Management LLC now owns 1,291,802 shares of the financial services provider’s stock valued at $100,321,000 after buying an additional 7,187 shares during the last quarter. Janus Henderson Group PLC raised its position in Morgan Stanley by 12.3% in the 1st quarter. Janus Henderson Group PLC now owns 14,006,538 shares of the financial services provider’s stock valued at $1,087,752,000 after buying an additional 1,530,364 shares during the last quarter. Baird Financial Group Inc. raised its position in Morgan Stanley by 10.0% in the 1st quarter. Baird Financial Group Inc. now owns 39,442 shares of the financial services provider’s stock valued at $3,063,000 after buying an additional 3,593 shares during the last quarter. AIA Group Ltd raised its position in Morgan Stanley by 77.0% in the 2nd quarter. AIA Group Ltd now owns 43,231 shares of the financial services provider’s stock valued at $3,863,000 after buying an additional 18,803 shares during the last quarter. Finally, Vanguard Capital Wealth Advisors raised its position in Morgan Stanley by 43.4% in the 2nd quarter. Vanguard Capital Wealth Advisors now owns 13,553 shares of the financial services provider’s stock valued at $1,242,000 after buying an additional 4,100 shares during the last quarter. 84.72% of the stock is owned by institutional investors and hedge funds.
MS has been the subject of a number of analyst reports. Jefferies Financial Group initiated coverage on Morgan Stanley in a research report on Friday, July 16th. They issued a “buy” rating and a $108.00 price target for the company. Zacks Investment Research lowered Morgan Stanley from a “buy” rating to a “hold” rating and set a $97.00 target price for the company. in a research report on Wednesday, June 16th. Royal Bank of Canada raised their target price on Morgan Stanley from $82.00 to $97.00 and gave the company an “outperform” rating in a research report on Wednesday, July 7th. Citigroup raised their target price on Morgan Stanley from $88.00 to $97.00 and gave the company a “neutral” rating in a research report on Monday, July 19th. They noted that the move was a valuation call. Finally, Evercore ISI reiterated a “buy” rating and set a $103.00 price target on shares of Morgan Stanley in a research note on Friday, July 2nd. Eight analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $95.74.
Morgan Stanley (NYSE:MS) last issued its earnings results 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. Morgan Stanley had a return on equity of 14.86% and a net margin of 23.89%. The business had revenue of $14.76 billion during the quarter, compared to the consensus estimate of $13.99 billion. During the same quarter last year, the company earned $1.96 EPS. The firm’s revenue was up 10.0% compared to the same quarter last year. On average, research analysts forecast that Morgan Stanley will post 7.46 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 13th. Stockholders of record on Friday, July 30th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date was Thursday, July 29th. This is an increase from Morgan Stanley’s previous quarterly dividend of $0.35. Morgan Stanley’s dividend payout ratio (DPR) is 42.55%.
Morgan Stanley declared that its Board of Directors has authorized a share buyback plan on Monday, June 28th that permits the company to buyback $12.00 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 7.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.
In related news, CFO Sharon Yeshaya sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, July 21st. The stock was sold at an average price of $95.64, for a total transaction of $239,100.00. Following the transaction, the chief financial officer now directly owns 24,895 shares of the company’s stock, valued at approximately $2,380,957.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Andrew M. Saperstein sold 11,465 shares of the firm’s stock in a transaction dated 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. In the last quarter, insiders have sold 25,430 shares of company stock valued at $2,370,902. Corporate insiders own 0.23% of the company’s stock.
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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