Lansforsakringar Fondforvaltning AB publ Sells 25,321 Shares of Morgan Stanley $MS

Key Points

• Lansforsakringar Fondforvaltning AB publ has decreased its stock holdings in Morgan Stanley by 5.1%, now owning 468,473 shares valued at approximately $54.65 million.
• Morgan Stanley recently reported earnings of $2.13 per share, surpassing analysts' expectations, with revenue of $16.79 billion for the last quarter.
• The company has announced a $20 billion share repurchase plan, indicating its confidence in being undervalued, along with a recent increase in its quarterly dividend to $1.00 per share.

Lansforsakringar Fondforvaltning AB publ trimmed its position in Morgan Stanley (NYSE:MS - Free Report) by 5.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 468,473 shares of the financial services provider's stock after selling 25,321 shares during the period. Lansforsakringar Fondforvaltning AB publ's holdings in Morgan Stanley were worth $54,657,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Meridian Wealth Management LLC raised its holdings in Morgan Stanley by 34.3% in the first quarter. Meridian Wealth Management LLC now owns 23,869 shares of the financial services provider's stock worth $2,785,000 after purchasing an additional 6,092 shares in the last quarter. Headlands Technologies LLC bought a new position in Morgan Stanley in the first quarter worth $57,000. AGF Management Ltd. grew its holdings in Morgan Stanley by 55.9% in the first quarter. AGF Management Ltd. now owns 327,978 shares of the financial services provider's stock worth $38,265,000 after purchasing an additional 117,615 shares during the period. Tlwm increased its stake in shares of Morgan Stanley by 1.8% during the first quarter. Tlwm now owns 13,863 shares of the financial services provider's stock valued at $1,617,000 after purchasing an additional 248 shares in the last quarter. Finally, Alley Investment Management Company LLC increased its stake in shares of Morgan Stanley by 75.0% during the first quarter. Alley Investment Management Company LLC now owns 62,469 shares of the financial services provider's stock valued at $7,288,000 after purchasing an additional 26,763 shares in the last quarter. Institutional investors own 84.19% of the company's stock.

Insider Buying and Selling

In related news, insider Charles A. Smith sold 20,000 shares of the firm's stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $140.30, for a total value of $2,806,000.00. Following the sale, the insider owned 119,239 shares in the company, valued at approximately $16,729,231.70. This trade represents a 14.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Eric F. Grossman sold 12,000 shares of the firm'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 completion of the sale, the insider owned 186,420 shares in the company, valued at $26,307,590.40. This represents a 6.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 148,149 shares of company stock valued at $20,841,628 in the last ninety days. Corporate insiders own 0.19% of the company's stock.

Morgan Stanley Stock Performance

NYSE MS traded up $0.32 during trading hours on Friday, hitting $150.50. The company's stock had a trading volume of 3,627,988 shares, compared to its average volume of 4,494,344. Morgan Stanley has a 12 month low of $94.09 and a 12 month high of $150.75. The company's 50 day simple moving average is $143.05 and its two-hundred day simple moving average is $129.37. The company has a debt-to-equity ratio of 3.30, a current ratio of 0.78 and a quick ratio of 0.78. The company has a market cap of $240.25 billion, a P/E ratio of 17.04, a price-to-earnings-growth ratio of 1.88 and a beta of 1.32.

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

Morgan Stanley announced that its Board of Directors has initiated 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 buy up to 8.9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's management believes its stock is undervalued.

Morgan Stanley Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Thursday, July 31st were issued a $1.00 dividend. This is an increase from Morgan Stanley's previous quarterly dividend of $0.93. This represents a $4.00 annualized dividend and a yield of 2.7%. The ex-dividend date was Thursday, July 31st. Morgan Stanley's dividend payout ratio is 45.30%.

Analyst Ratings Changes

A number of brokerages have weighed in on MS. Wells Fargo & Company raised their target price on shares of Morgan Stanley from $120.00 to $145.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 8th. Erste Group Bank raised shares of Morgan Stanley from a "hold" rating to a "strong-buy" rating in a research note on Saturday, May 24th. The Goldman Sachs Group raised their target price on shares of Morgan Stanley from $121.00 to $136.00 and gave the company a "neutral" rating in a research note on Tuesday, June 10th. Citigroup reaffirmed a "neutral" rating and set a $130.00 target price (up previously from $125.00) on shares of Morgan Stanley in a research note on Wednesday, June 18th. Finally, Keefe, Bruyette & Woods raised shares of Morgan Stanley from a "market perform" rating to an "outperform" rating and raised their target price for the company from $127.00 to $160.00 in a research note on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, Morgan Stanley has an average rating of "Hold" and an average price target 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.