Covenant Asset Management LLC Boosts Stock Holdings in Morgan Stanley (NYSE:MS)

Covenant Asset Management LLC increased its position in Morgan Stanley (NYSE:MS - Free Report) by 134.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,409 shares of the financial services provider's stock after buying an additional 23,721 shares during the period. Morgan Stanley accounts for approximately 1.1% of Covenant Asset Management LLC's investment portfolio, making the stock its 27th biggest holding. Covenant Asset Management LLC's holdings in Morgan Stanley were worth $4,831,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Omnia Family Wealth LLC increased its position in shares of Morgan Stanley by 2.5% during the fourth quarter. Omnia Family Wealth LLC now owns 3,140 shares of the financial services provider's stock worth $395,000 after acquiring an additional 77 shares in the last quarter. Continuum Advisory LLC increased its position in shares of Morgan Stanley by 2.5% during the fourth quarter. Continuum Advisory LLC now owns 3,638 shares of the financial services provider's stock worth $457,000 after acquiring an additional 87 shares in the last quarter. Insight Inv LLC grew its position in Morgan Stanley by 0.5% in the 1st quarter. Insight Inv LLC now owns 18,378 shares of the financial services provider's stock worth $2,144,000 after purchasing an additional 88 shares in the last quarter. Vivaldi Capital Management LP grew its position in Morgan Stanley by 1.8% in the 4th quarter. Vivaldi Capital Management LP now owns 5,096 shares of the financial services provider's stock worth $696,000 after purchasing an additional 90 shares in the last quarter. Finally, Jacobsen Capital Management boosted its stake in Morgan Stanley by 4.2% in the first quarter. Jacobsen Capital Management now owns 2,212 shares of the financial services provider's stock valued at $258,000 after acquiring an additional 90 shares during the last quarter. 84.19% of the stock is currently owned by institutional investors and hedge funds.

Morgan Stanley Price Performance

Shares of MS traded down $0.10 during mid-day trading on Friday, reaching $140.80. The stock had a trading volume of 5,572,318 shares, compared to its average volume of 6,580,971. Morgan Stanley has a 12 month low of $90.94 and a 12 month high of $145.16. The business has a fifty day moving average of $134.24 and a 200 day moving average of $127.23. The company has a debt-to-equity ratio of 3.11, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a market cap of $225.89 billion, a price-to-earnings ratio of 15.95, a PEG ratio of 1.32 and a beta of 1.30.

Morgan Stanley (NYSE:MS - Get Free Report) last released its earnings results on Wednesday, July 16th. The financial services provider reported $2.13 EPS for the quarter, topping the consensus estimate of $1.98 by $0.15. Morgan Stanley had a net margin of 13.06% and a return on equity of 15.33%. The firm had revenue of $16.79 billion for the quarter, compared to the consensus estimate of $16.15 billion. During the same quarter in the previous year, the firm earned $1.82 earnings per share. The company's quarterly revenue was up 11.8% compared to the same quarter last year. Equities analysts predict that Morgan Stanley will post 8.56 EPS for the current year.

Morgan Stanley declared that its Board of Directors has initiated a stock buyback program on Tuesday, July 1st that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 8.9% 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.

Morgan Stanley Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 31st will be given a dividend of $1.00 per share. This is a boost from Morgan Stanley's previous quarterly dividend of $0.93. The ex-dividend date is Thursday, July 31st. This represents a $4.00 dividend on an annualized basis and a yield of 2.84%. Morgan Stanley's payout ratio is 45.30%.

Insider Buying and Selling at Morgan Stanley

In other news, insider Andrew M. Saperstein sold 43,566 shares of the company's stock in a transaction dated Thursday, July 17th. The shares were sold at an average price of $140.97, for a total value of $6,141,499.02. Following the transaction, the insider directly owned 294,250 shares in the company, valued at approximately $41,480,422.50. This represents a 12.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Daniel A. Simkowitz sold 29,000 shares of the company's stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $141.13, for a total transaction of $4,092,770.00. Following the completion of the transaction, the insider owned 399,105 shares in the company, valued at approximately $56,325,688.65. The trade was a 6.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 188,949 shares of company stock valued at $25,737,084. Insiders own 0.19% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. The Goldman Sachs Group upped their price target on shares of Morgan Stanley from $121.00 to $136.00 and gave the company a "neutral" rating in a research note on Tuesday, June 10th. Citigroup restated a "neutral" rating and set a $130.00 price target (up from $125.00) on shares of Morgan Stanley in a research note on Wednesday, June 18th. Wells Fargo & Company upped their price target on shares of Morgan Stanley from $120.00 to $145.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 8th. JPMorgan Chase & Co. decreased their price target on shares of Morgan Stanley from $125.00 to $122.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Morgan Stanley in a report on Monday, April 14th. Nine analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Morgan Stanley presently has a consensus rating of "Hold" and an average target price of $138.25.

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.