Hartline Investment Corp Sells 14,602 Shares of Morgan Stanley $MS

Key Points

• Hartline Investment Corp reduced its stake in Morgan Stanley by 17.9% in Q2, selling 14,602 shares to hold 67,012 shares valued at approximately $9.44 million.
• Morgan Stanley reported $2.80 EPS for the latest quarter, surpassing estimates, with total revenue of $18.22 billion, reflecting an 18.5% year-over-year growth.
• The company announced a quarterly dividend of $1.00 per share, with a yield of 2.5%, to be paid on November 14, and has also approved a significant $20 billion share buyback plan.

Hartline Investment Corp lessened its stake in Morgan Stanley (NYSE:MS - Free Report) by 17.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 67,012 shares of the financial services provider's stock after selling 14,602 shares during the period. Morgan Stanley makes up approximately 1.1% of Hartline Investment Corp's holdings, making the stock its 23rd largest position. Hartline Investment Corp's holdings in Morgan Stanley were worth $9,439,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Chevy Chase Trust Holdings LLC grew its position in shares of Morgan Stanley by 0.5% during the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 657,397 shares of the financial services provider's stock valued at $92,601,000 after acquiring an additional 3,539 shares during the period. Arista Wealth Management LLC grew its position in shares of Morgan Stanley by 8.7% during the 2nd quarter. Arista Wealth Management LLC now owns 5,000 shares of the financial services provider's stock valued at $704,000 after acquiring an additional 400 shares during the period. Private Trust Co. NA grew its position in shares of Morgan Stanley by 17.0% during the 2nd quarter. Private Trust Co. NA now owns 7,985 shares of the financial services provider's stock valued at $1,125,000 after acquiring an additional 1,158 shares during the period. Angeles Wealth Management LLC grew its position in shares of Morgan Stanley by 16.5% during the 2nd quarter. Angeles Wealth Management LLC now owns 5,782 shares of the financial services provider's stock valued at $814,000 after acquiring an additional 817 shares during the period. Finally, Riverbend Wealth Management LLC bought a new stake in shares of Morgan Stanley during the 2nd quarter valued at $240,000. Institutional investors own 84.19% of the company's stock.

Morgan Stanley Trading Down 0.8%

Shares of Morgan Stanley stock opened at $158.70 on Friday. The company has a market capitalization of $253.34 billion, a P/E ratio of 16.28, a P/E/G ratio of 1.87 and a beta of 1.32. The company has a debt-to-equity ratio of 3.30, a quick ratio of 0.78 and a current ratio of 0.78. The company has a fifty day moving average of $153.29 and a 200 day moving average of $136.98. Morgan Stanley has a fifty-two week low of $94.33 and a fifty-two week high of $166.77.

Morgan Stanley (NYSE:MS - Get Free Report) last released its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $2.80 EPS for the quarter, beating the consensus estimate of $2.07 by $0.73. Morgan Stanley had a net margin of 13.85% and a return on equity of 16.55%. The business had revenue of $18.22 billion during the quarter, compared to the consensus estimate of $16.42 billion. During the same quarter in the prior year, the firm earned $1.88 EPS. The business's revenue was up 18.5% on a year-over-year basis. On average, sell-side analysts anticipate that Morgan Stanley will post 8.56 earnings per share for the current fiscal year.

Morgan Stanley Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.5%. The ex-dividend date is Friday, October 31st. Morgan Stanley's dividend payout ratio (DPR) is currently 41.03%.

Morgan Stanley declared that its board has approved a share repurchase plan on Tuesday, July 1st that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 8.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

MS has been the subject of a number of recent research reports. Citigroup boosted their price objective on shares of Morgan Stanley from $155.00 to $170.00 and gave the company a "neutral" rating in a research report on Thursday. Keefe, Bruyette & Woods boosted their price objective on shares of Morgan Stanley from $176.00 to $184.00 and gave the company an "outperform" rating in a research report on Thursday. Weiss Ratings reissued a "buy (b-)" rating on shares of Morgan Stanley in a research report on Wednesday, October 8th. Barclays boosted their price objective on shares of Morgan Stanley from $156.00 to $183.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, BMO Capital Markets initiated coverage on shares of Morgan Stanley in a research report on Friday, October 3rd. They set an "outperform" rating and a $180.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $165.54.

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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