Hoey Investments Inc. Sells 3,710 Shares of Morgan Stanley (NYSE:MS)

Hoey Investments Inc. trimmed its position in shares of Morgan Stanley (NYSE:MS - Free Report) by 12.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,251 shares of the financial services provider's stock after selling 3,710 shares during the period. Morgan Stanley accounts for approximately 0.6% of Hoey Investments Inc.'s investment portfolio, making the stock its 15th biggest position. Hoey Investments Inc.'s holdings in Morgan Stanley were worth $3,179,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Minot DeBlois Advisors LLC acquired a new stake in shares of Morgan Stanley during the 4th quarter worth $25,000. IAG Wealth Partners LLC acquired a new stake in Morgan Stanley during the fourth quarter worth about $28,000. Curio Wealth LLC bought a new position in Morgan Stanley in the 4th quarter valued at about $31,000. Ancora Advisors LLC increased its holdings in Morgan Stanley by 104.7% in 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 during the period. Finally, Crowley Wealth Management Inc. acquired a new position in shares of Morgan Stanley in the 4th quarter valued at approximately $34,000. 84.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on MS shares. JPMorgan Chase & Co. dropped their price objective on Morgan Stanley from $125.00 to $122.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Evercore ISI reduced their price target on shares of Morgan Stanley from $150.00 to $138.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 1st. Erste Group Bank upgraded shares of Morgan Stanley from a "hold" rating to a "strong-buy" rating in a research report on Saturday, May 24th. Citigroup reduced their price objective on Morgan Stanley from $135.00 to $125.00 and set a "neutral" rating on the stock in a research report on Monday, March 24th. Finally, Wells Fargo & Company reduced their price target on Morgan Stanley from $130.00 to $120.00 and set an "equal weight" rating on the stock in a report on Monday, April 14th. Eleven equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Morgan Stanley currently has a consensus rating of "Hold" and a consensus target price of $133.23.

Morgan Stanley Stock Down 0.6%

MS stock traded down $0.79 during midday trading on Tuesday, reaching $130.11. 4,754,601 shares of the company's stock traded hands, compared to its average volume of 6,689,149. The company has a market cap of $208.74 billion, a price-to-earnings ratio of 16.39, a P/E/G ratio of 1.18 and a beta of 1.29. The firm's fifty day moving average price is $121.86 and its 200-day moving average price is $125.14. Morgan Stanley has a 52 week low of $90.94 and a 52 week high of $142.03. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 3.14.

Morgan Stanley (NYSE:MS - Get Free Report) last released its quarterly earnings results on Friday, April 11th. The financial services provider reported $2.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.21 by $0.39. The business had revenue of $17.74 billion during the quarter, compared to the consensus estimate of $16.81 billion. Morgan Stanley had a return on equity of 14.39% and a net margin of 12.48%. The company's quarterly revenue was up 17.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.02 EPS. As a group, sell-side analysts forecast that Morgan Stanley will post 8.56 earnings per share for the current fiscal year.

Morgan Stanley Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th were paid a $0.925 dividend. The ex-dividend date was Wednesday, April 30th. This represents a $3.70 dividend on an annualized basis and a yield of 2.84%. Morgan Stanley's dividend payout ratio (DPR) is presently 43.43%.

Insider Activity

In other Morgan Stanley news, insider Eric F. Grossman sold 10,068 shares of the stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $111.65, for a total transaction of $1,124,092.20. Following the transaction, the insider now directly owns 199,274 shares in the company, valued at $22,248,942.10. This trade represents a 4.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Andrew M. Saperstein sold 40,000 shares of the business's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $120.00, for a total transaction of $4,800,000.00. Following the completion of the sale, the insider now directly owns 335,765 shares of the company's stock, valued at $40,291,800. This represents a 10.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,868 shares of company stock valued at $6,019,548 in the last three months. Company insiders own 0.19% of the company's stock.

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.