Granite Harbor Advisors Inc. Takes $202,000 Position in Morgan Stanley $MS

Key Points

• Granite Harbor Advisors Inc. has acquired a new stake in Morgan Stanley, purchasing 1,735 shares valued at approximately $202,000.
• Insider transactions included the sale of 20,000 and 43,566 shares by executives Charles A. Smith and Andrew M. Saperstein, marking significant decreases in their respective positions by 14.36% and 12.90%.
• Morgan Stanley announced a $20 billion share buyback plan and recently increased its quarterly dividend to $1.00 per share, up from $0.93.

Granite Harbor Advisors Inc. bought a new stake in shares of Morgan Stanley (NYSE:MS - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,735 shares of the financial services provider's stock, valued at approximately $202,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Minot DeBlois Advisors LLC bought a new position in shares of Morgan Stanley during the 4th quarter worth approximately $25,000. MorganRosel Wealth Management LLC acquired a new position in shares of Morgan Stanley during the first quarter worth $27,000. Garde Capital Inc. acquired a new stake in shares of Morgan Stanley in the 1st quarter worth $30,000. Hopwood Financial Services Inc. grew its stake in Morgan Stanley by 50.0% during the 1st quarter. Hopwood Financial Services Inc. now owns 264 shares of the financial services provider's stock worth $31,000 after buying an additional 88 shares during the last quarter. Finally, Ancora Advisors LLC increased its position in Morgan Stanley by 104.7% during the 4th 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 in the last quarter. 84.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Morgan Stanley news, insider Charles A. Smith sold 20,000 shares of the business's stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $140.30, for a total transaction of $2,806,000.00. Following the completion of the sale, the insider directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Andrew M. Saperstein sold 43,566 shares of the company's stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $140.97, for a total transaction of $6,141,499.02. Following the sale, the insider directly owned 294,250 shares of the company's stock, valued at $41,480,422.50. The trade was a 12.90% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 148,149 shares of company stock worth $20,841,628. Company insiders own 0.19% of the company's stock.

Morgan Stanley Price Performance

Shares of Morgan Stanley stock opened at $144.55 on Monday. The firm has a market cap of $230.75 billion, a PE ratio of 16.37, a P/E/G ratio of 1.81 and a beta of 1.32. Morgan Stanley has a twelve month low of $94.09 and a twelve month high of $149.08. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 3.30. The business has a 50-day moving average price of $139.93 and a 200 day moving average price of $128.68.

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

Morgan Stanley announced that its Board of Directors has initiated a share buyback plan on Tuesday, July 1st that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the financial services provider to buy up to 8.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its stock is undervalued.

Morgan Stanley Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Thursday, July 31st were 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 was Thursday, July 31st. This represents a $4.00 annualized dividend and a dividend yield of 2.8%. Morgan Stanley's payout ratio is currently 45.30%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group boosted their price target on Morgan Stanley from $121.00 to $136.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 10th. Citigroup restated a "neutral" rating and set a $130.00 price target (up previously from $125.00) on shares of Morgan Stanley in a research note on Wednesday, June 18th. Erste Group Bank raised shares of Morgan Stanley from a "hold" rating to a "strong-buy" rating in a report on Saturday, May 24th. Wells Fargo & Company increased their price objective on Morgan Stanley from $120.00 to $145.00 and gave the company an "equal weight" rating in a report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods raised 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 report on Wednesday, July 9th. Nine equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $138.25.

Morgan Stanley Company 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.

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