Prospera Financial Services Inc Raises Position in Morgan Stanley (NYSE:MS)

Prospera Financial Services Inc raised its holdings in Morgan Stanley (NYSE:MS) by 928.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 98,415 shares of the financial services provider’s stock after buying an additional 88,842 shares during the period. Prospera Financial Services Inc’s holdings in Morgan Stanley were worth $9,024,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Alpha Cubed Investments LLC lifted its position in shares of Morgan Stanley by 2.4% during the 2nd quarter. Alpha Cubed Investments LLC now owns 5,000 shares of the financial services provider’s stock worth $458,000 after purchasing an additional 115 shares during the last quarter. Harvest Fund Management Co. Ltd lifted its position in shares of Morgan Stanley by 3.9% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 3,186 shares of the financial services provider’s stock worth $247,000 after purchasing an additional 120 shares during the last quarter. Clarius Group LLC lifted its position in shares of Morgan Stanley by 0.6% during the 2nd quarter. Clarius Group LLC now owns 19,877 shares of the financial services provider’s stock worth $1,823,000 after purchasing an additional 120 shares during the last quarter. Tiemann Investment Advisors LLC lifted its position in shares of Morgan Stanley by 0.6% during the 1st quarter. Tiemann Investment Advisors LLC now owns 19,141 shares of the financial services provider’s stock worth $1,486,000 after purchasing an additional 121 shares during the last quarter. Finally, WASHINGTON TRUST Co lifted its position in shares of Morgan Stanley by 1.1% during the 2nd quarter. WASHINGTON TRUST Co now owns 11,038 shares of the financial services provider’s stock worth $1,012,000 after purchasing an additional 121 shares during the last quarter. 84.72% of the stock is owned by institutional investors.

MS has been the subject of several recent analyst reports. BMO Capital Markets lifted their price objective on shares of Morgan Stanley from $97.00 to $103.00 and gave the stock an “outperform” rating in a research report on Friday, July 16th. Piper Sandler boosted their price target on shares of Morgan Stanley from $93.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, July 16th. Royal Bank of Canada boosted their price target on shares of Morgan Stanley from $82.00 to $97.00 and gave the company an “outperform” rating in a research report on Wednesday, July 7th. Zacks Investment Research cut shares of Morgan Stanley from a “buy” rating to a “hold” rating and set a $97.00 price target for the company. in a research report on Wednesday, June 16th. Finally, Seaport Res Ptn cut shares of Morgan Stanley from a “buy” rating to a “neutral” rating in a research report on Friday, August 13th. Eight research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $95.74.

In other news, insider Andrew M. Saperstein sold 11,465 shares of the 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sharon Yeshaya sold 2,500 shares of the firm’s stock in a transaction on Wednesday, July 21st. The shares were sold at an average price of $95.64, for a total transaction of $239,100.00. Following the sale, the chief financial officer now directly owns 24,895 shares of the company’s stock, valued at $2,380,957.80. The disclosure for this sale can be found here. Insiders sold 25,430 shares of company stock valued at $2,370,902 in the last three months. Company insiders own 0.23% of the company’s stock.

Shares of MS stock opened at $104.00 on Monday. Morgan Stanley has a one year low of $45.92 and a one year high of $105.81. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.74 and a current ratio of 0.74. The company has a 50 day moving average price of $100.74 and a 200 day moving average price of $91.02. The firm has a market capitalization of $189.75 billion, a price-to-earnings ratio of 13.70, a price-to-earnings-growth ratio of 2.20 and a beta of 1.56.

Morgan Stanley (NYSE:MS) last issued its quarterly 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 net margin of 23.89% and a return on equity of 14.86%. The firm had revenue of $14.76 billion during the quarter, compared to analyst estimates of $13.99 billion. During the same quarter in the prior year, the business posted $1.96 earnings per share. Morgan Stanley’s revenue for the quarter was up 10.0% compared to the same quarter last year. As a group, equities analysts forecast that Morgan Stanley will post 7.46 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 13th. Stockholders of record on Friday, July 30th were given a $0.70 dividend. The ex-dividend date was Thursday, July 29th. This represents a $2.80 annualized dividend and a dividend yield of 2.69%. This is a positive change from Morgan Stanley’s previous quarterly dividend of $0.35. Morgan Stanley’s dividend payout ratio is presently 42.55%.

Morgan Stanley announced that its board has authorized a share buyback plan on Monday, June 28th that permits the company to buyback $12.00 billion in 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 generally an indication that the company’s management believes its shares are undervalued.

Morgan Stanley 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.

Recommended Story: How is the S&P 500 index different from the DJIA?

Want to see what other hedge funds are holding MS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Morgan Stanley (NYSE:MS).

Institutional Ownership by Quarter for Morgan Stanley (NYSE:MS)

Receive News & Ratings for Morgan Stanley Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Morgan Stanley and related companies with MarketBeat.com's FREE daily email newsletter.