Exchange Traded Concepts LLC Sells 107,356 Shares of Morgan Stanley $MS

Key Points

• Exchange Traded Concepts LLC has reduced its stake in Morgan Stanley by 90.2%, selling 107,356 shares during the second quarter, leaving them with 11,616 shares valued at approximately $1.6 million.
• Insiders have sold a total of 148,149 shares of Morgan Stanley stock in the last 90 days, amounting to over $20.8 million in transactions.
• Morgan Stanley recently announced a quarterly dividend increase to $1.00 per share, marking a positive change from the previous $0.93, resulting in a 2.5% dividend yield.

Exchange Traded Concepts LLC trimmed its stake in Morgan Stanley (NYSE:MS - Free Report) by 90.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,616 shares of the financial services provider's stock after selling 107,356 shares during the quarter. Exchange Traded Concepts LLC's holdings in Morgan Stanley were worth $1,636,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. CBIZ Investment Advisory Services LLC grew its stake in Morgan Stanley by 111.0% in the first quarter. CBIZ Investment Advisory Services LLC now owns 211 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 111 shares in the last quarter. MorganRosel Wealth Management LLC bought a new position in Morgan Stanley in the first quarter valued at approximately $27,000. Garde Capital Inc. bought a new position in Morgan Stanley in the first quarter valued at approximately $30,000. Hopwood Financial Services Inc. grew its stake in Morgan Stanley by 50.0% in the first quarter. Hopwood Financial Services Inc. now owns 264 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 88 shares in the last quarter. Finally, Wood Tarver Financial Group LLC bought a new position in Morgan Stanley in the fourth quarter valued at approximately $34,000. 84.19% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Andrew M. Saperstein sold 43,566 shares of Morgan Stanley stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $140.97, for a total value of $6,141,499.02. Following the transaction, the insider owned 294,250 shares in the company, valued at approximately $41,480,422.50. This trade represents a 12.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Charles A. Smith sold 20,000 shares of Morgan Stanley stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $140.30, for a total value of $2,806,000.00. Following the completion of the transaction, the insider owned 119,239 shares in the company, valued at approximately $16,729,231.70. The trade was a 14.36% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 148,149 shares of company stock worth $20,841,628. 0.19% of the stock is owned by company insiders.

Morgan Stanley Price Performance

Shares of NYSE MS opened at $159.68 on Monday. The stock has a market capitalization of $254.90 billion, a PE ratio of 18.08, a P/E/G ratio of 1.99 and a beta of 1.33. The company has a debt-to-equity ratio of 3.30, a current ratio of 0.78 and a quick ratio of 0.78. The business has a fifty day moving average price of $146.84 and a two-hundred day moving average price of $131.64. Morgan Stanley has a fifty-two week low of $94.33 and a fifty-two week high of $161.09.

Morgan Stanley (NYSE:MS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $2.13 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.15. The firm had revenue of $16.79 billion during the quarter, compared to analysts' expectations of $16.15 billion. Morgan Stanley had a return on equity of 15.20% and a net margin of 13.06%.The company's quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.82 EPS. As a group, equities analysts predict that Morgan Stanley will post 8.56 earnings per share for the current fiscal year.

Morgan Stanley declared that its Board of Directors has initiated a stock buyback plan on Tuesday, July 1st that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 8.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its stock is undervalued.

Morgan Stanley Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Thursday, July 31st were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Thursday, July 31st. This is a positive change from Morgan Stanley's previous quarterly dividend of $0.93. Morgan Stanley's dividend payout ratio is 45.30%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Citigroup restated a "neutral" rating and issued a $130.00 price target (up from $125.00) on shares of Morgan Stanley in a research note on Wednesday, June 18th. Keefe, Bruyette & Woods upgraded Morgan Stanley from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $127.00 to $160.00 in a research note on Wednesday, July 9th. The Goldman Sachs Group lifted their target price on Morgan Stanley from $121.00 to $136.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 10th. Finally, Wells Fargo & Company lifted their target price on Morgan Stanley from $145.00 to $165.00 and gave the stock an "equal weight" rating in a research note on Tuesday, September 16th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $139.92.

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.

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