Granite Group Advisors LLC Sells 2,423 Shares of Morgan Stanley (NYSE:MS)

Granite Group Advisors LLC decreased its stake in shares of Morgan Stanley (NYSE:MS - Free Report) by 13.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 16,205 shares of the financial services provider's stock after selling 2,423 shares during the period. Morgan Stanley accounts for about 1.3% of Granite Group Advisors LLC's portfolio, making the stock its 20th largest holding. Granite Group Advisors LLC's holdings in Morgan Stanley were worth $1,891,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Minot DeBlois Advisors LLC acquired a new stake in Morgan Stanley in the 4th quarter worth about $25,000. MorganRosel Wealth Management LLC acquired a new stake in Morgan Stanley in the 1st quarter worth about $27,000. Garde Capital Inc. acquired a new stake in Morgan Stanley in the 1st quarter worth about $30,000. Ancora Advisors LLC raised its stake in Morgan Stanley by 104.7% in the 4th quarter. Ancora Advisors LLC now owns 264 shares of the financial services provider's stock worth $33,000 after purchasing an additional 135 shares in the last quarter. Finally, Wood Tarver Financial Group LLC acquired a new stake in Morgan Stanley in the 4th quarter worth about $34,000. Institutional investors own 84.19% of the company's stock.

Insider Activity

In other Morgan Stanley news, insider Daniel A. Simkowitz sold 29,000 shares of the business's stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $141.13, for a total transaction of $4,092,770.00. Following the sale, the insider directly owned 399,105 shares of the company's stock, valued at $56,325,688.65. The trade was a 6.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Eric F. Grossman sold 12,000 shares of the business's stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $141.12, for a total transaction of $1,693,440.00. Following the sale, the insider directly owned 186,420 shares in the company, valued at $26,307,590.40. The trade was a 6.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 188,949 shares of company stock worth $25,737,084. Company insiders own 0.19% of the company's stock.

Morgan Stanley Price Performance

MS stock traded up $0.50 during trading on Friday, reaching $143.00. 3,462,907 shares of the company were exchanged, compared to its average volume of 5,791,441. The company has a 50-day moving average of $135.37 and a two-hundred day moving average of $127.74. The company has a market capitalization of $229.42 billion, a price-to-earnings ratio of 16.19, a P/E/G ratio of 1.79 and a beta of 1.30. Morgan Stanley has a twelve month low of $90.94 and a twelve month high of $145.16. The company has a debt-to-equity ratio of 3.11, a current ratio of 0.78 and a quick ratio of 0.78.

Morgan Stanley (NYSE:MS - Get Free Report) last released its quarterly earnings data 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 business had revenue of $16.79 billion during the quarter, compared to analysts' expectations of $16.15 billion. Morgan Stanley had a net margin of 13.06% and a return on equity of 15.33%. The firm's quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the company 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 announced that its board has authorized a share 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 purchase up to 8.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Morgan Stanley Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 31st will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.80%. This is a boost from Morgan Stanley's previous quarterly dividend of $0.93. The ex-dividend date of this dividend is Thursday, July 31st. Morgan Stanley's dividend payout ratio is currently 45.30%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Erste Group Bank upgraded shares of Morgan Stanley from a "hold" rating to a "strong-buy" rating in a research note on Saturday, May 24th. Keefe, Bruyette & Woods upgraded shares of Morgan Stanley from a "market perform" rating to an "outperform" rating and lifted their price objective for the stock from $127.00 to $160.00 in a research note on Wednesday, July 9th. JPMorgan Chase & Co. dropped their price objective on shares of Morgan Stanley from $125.00 to $122.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. The Goldman Sachs Group lifted their price objective on shares of Morgan Stanley from $121.00 to $136.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 10th. Finally, Citigroup reiterated a "neutral" rating and issued a $130.00 price objective (up previously from $125.00) on shares of Morgan Stanley in a research note on Wednesday, June 18th. Nine investment 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $138.25.

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.