Morgan Stanley (NYSE:MS) Shares Sold by Cypress Capital Group

Key Points

• Cypress Capital Group has reduced its holdings in Morgan Stanley by 62.9%, now owning 1,822 shares valued at $213,000 after selling 3,093 shares in the first quarter.
• Morgan Stanley has announced a quarterly dividend increase to $1.00 and authorized a share buyback plan allowing for the repurchase of up to $20 billion in outstanding shares.
• Analyst opinions on Morgan Stanley are mixed, with recent price targets ranging from $122.00 to $160.00, and an overall average rating of "Hold" with a price target of $138.25.

Cypress Capital Group trimmed its position in Morgan Stanley (NYSE:MS - Free Report) by 62.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,822 shares of the financial services provider's stock after selling 3,093 shares during the quarter. Cypress Capital Group's holdings in Morgan Stanley were worth $213,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in MS. Minot DeBlois Advisors LLC bought a new stake in Morgan Stanley during the fourth quarter worth approximately $25,000. MorganRosel Wealth Management LLC bought a new stake in Morgan Stanley during the first quarter worth approximately $27,000. Garde Capital Inc. bought a new stake in Morgan Stanley during the first quarter worth approximately $30,000. Hopwood Financial Services Inc. increased its stake in Morgan Stanley by 50.0% during the first quarter. Hopwood Financial Services Inc. now owns 264 shares of the financial services provider's stock worth $31,000 after acquiring an additional 88 shares during the last quarter. Finally, Ancora Advisors LLC boosted its position in shares of Morgan Stanley by 104.7% during the fourth quarter. Ancora Advisors LLC now owns 264 shares of the financial services provider's stock valued at $33,000 after buying an additional 135 shares during the period. 84.19% of the stock is owned by institutional investors.

Morgan Stanley Stock Down 2.7%

Shares of MS traded down $3.96 during midday trading on Friday, hitting $144.55. 4,985,473 shares of the company's stock traded hands, compared to its average volume of 4,919,660. Morgan Stanley has a 1 year low of $94.09 and a 1 year high of $149.08. The firm's fifty day moving average is $139.93 and its 200-day moving average is $128.83. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 3.30. The stock has a market capitalization of $230.75 billion, a price-to-earnings ratio of 16.37, a price-to-earnings-growth ratio of 1.86 and a beta of 1.32.

Morgan Stanley (NYSE:MS - Get Free Report) last issued its earnings results on Wednesday, July 16th. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.98 by $0.15. The company had revenue of $16.79 billion during the quarter, compared to analyst estimates of $16.15 billion. Morgan Stanley had a return on equity of 15.20% and a net margin of 13.06%. The firm's quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the business posted $1.82 EPS. As a group, sell-side analysts anticipate that Morgan Stanley will post 8.56 earnings per share for the current year.

Morgan Stanley Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Thursday, July 31st were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $4.00 annualized dividend and a yield of 2.8%. This is an increase from Morgan Stanley's previous quarterly dividend of $0.93. Morgan Stanley's payout ratio is 45.30%.

Morgan Stanley declared that its Board of Directors has authorized a stock buyback program on Tuesday, July 1st that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 8.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Citigroup restated a "neutral" rating and set a $130.00 target price (up previously from $125.00) on shares of Morgan Stanley in a research report on Wednesday, June 18th. The Goldman Sachs Group boosted their price target on Morgan Stanley from $121.00 to $136.00 and gave the company a "neutral" rating in a report on Tuesday, June 10th. Wells Fargo & Company boosted their price target on Morgan Stanley from $120.00 to $145.00 and gave the company an "equal weight" rating in a report on Tuesday, July 8th. Keefe, Bruyette & Woods upgraded Morgan Stanley from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $127.00 to $160.00 in a report on Wednesday, July 9th. Finally, Erste Group Bank upgraded Morgan Stanley from a "hold" rating to a "strong-buy" rating in a report on Saturday, May 24th. Nine research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Morgan Stanley has an average rating of "Hold" and a consensus price target of $138.25.

Insider Activity at Morgan Stanley

In other Morgan Stanley news, insider Michael A. Pizzi sold 18,000 shares of the firm's stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $140.62, for a total value of $2,531,160.00. Following the sale, the insider directly owned 136,407 shares of the company's stock, valued at approximately $19,181,552.34. This trade represents a 11.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Andrew M. Saperstein sold 43,566 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the insider owned 294,250 shares of the company's stock, valued at $41,480,422.50. This trade represents a 12.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 148,149 shares of company stock worth $20,841,628 in the last three months. Company insiders own 0.19% of the company's stock.

About Morgan Stanley

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.