iA Global Asset Management Inc. Decreases Stake in Morgan Stanley (NYSE:MS)

Key Points

• iA Global Asset Management Inc. reduced its stake in Morgan Stanley by 76.9%, ending the first quarter with 16,166 shares worth approximately $1.886 million.
• Morgan Stanley's quarterly earnings surpassed estimates, reporting $2.13 EPS against a consensus of $1.98, with revenues of $16.79 billion.
• The financial services firm has announced a $20 billion stock buyback program and increased its quarterly dividend from $0.93 to $1.00 per share.

iA Global Asset Management Inc. reduced its stake in Morgan Stanley (NYSE:MS - Free Report) by 76.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,166 shares of the financial services provider's stock after selling 53,774 shares during the period. iA Global Asset Management Inc.'s holdings in Morgan Stanley were worth $1,886,000 at the end of the most recent reporting period.

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

Morgan Stanley Trading Up 0.6%

NYSE MS opened at $141.33 on Thursday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 3.30. Morgan Stanley has a twelve month low of $92.01 and a twelve month high of $145.48. The firm has a market capitalization of $225.61 billion, a PE ratio of 16.01, a P/E/G ratio of 1.76 and a beta of 1.32. The stock's 50 day moving average is $137.68 and its 200 day moving average is $128.45.

Morgan Stanley (NYSE:MS - Get Free Report) last released its quarterly earnings results 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. Morgan Stanley had a return on equity of 15.20% and a net margin of 13.06%. The company had revenue of $16.79 billion for the quarter, compared to analyst estimates of $16.15 billion. During the same period in the previous year, the company posted $1.82 earnings per share. The firm's revenue was up 11.8% on a year-over-year basis. Research analysts forecast that Morgan Stanley will post 8.56 earnings per share for the current fiscal year.

Morgan Stanley announced that its board has approved a stock buyback program on Tuesday, July 1st that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 8.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's management believes its stock is undervalued.

Morgan Stanley Increases Dividend

The company also recently declared 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 is a boost from Morgan Stanley's previous quarterly dividend of $0.93. This represents a $4.00 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Thursday, July 31st. Morgan Stanley's dividend payout ratio is presently 45.30%.

Insider Activity at Morgan Stanley

In other Morgan Stanley news, insider Michael A. Pizzi sold 18,000 shares of the business's stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $140.62, for a total value of $2,531,160.00. Following the sale, the insider directly owned 136,407 shares of the company's stock, valued at approximately $19,181,552.34. The trade was a 11.66% decrease in their ownership of the stock. 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 on Thursday, July 17th. The stock was sold at an average price of $141.12, for a total value of $1,693,440.00. Following the completion of the sale, the insider directly owned 186,420 shares in the company, valued at $26,307,590.40. This trade represents a 6.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 148,149 shares of company stock valued at $20,841,628 over the last ninety days. Insiders own 0.19% of the company's stock.

Analysts Set New Price Targets

MS has been the topic of several research analyst reports. The Goldman Sachs Group boosted their target price on Morgan Stanley from $121.00 to $136.00 and gave the company a "neutral" rating in a research note on Tuesday, June 10th. Erste Group Bank raised Morgan Stanley from a "hold" rating to a "strong-buy" rating in a research note on Saturday, May 24th. Wells Fargo & Company boosted their target price on Morgan Stanley from $120.00 to $145.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 8th. JMP Securities reissued a "market perform" rating on shares of Morgan Stanley in a research note on Monday, April 14th. Finally, Citigroup reissued a "neutral" rating and set a $130.00 target price (up from $125.00) on shares of Morgan Stanley in a research note on Wednesday, June 18th. Nine equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Morgan Stanley presently has an average 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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