Mirae Asset Global Investments Co. Ltd. Acquires 20,975 Shares of Morgan Stanley $MS

Key Points

• Mirae Asset Global Investments increased its stake in Morgan Stanley by 14.2%, acquiring an additional 20,975 shares, bringing its total holdings to $23.73 million.
• Morgan Stanley reported a Q2 EPS of $2.13, surpassing estimates, and revenues of $16.79 billion, reflecting an increase of 11.8% year-over-year.
• The company announced a quarterly dividend increase to $1.00, raising the annualized dividend to $4.00 with a dividend yield of 2.5%.

Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Morgan Stanley (NYSE:MS - Free Report) by 14.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 168,452 shares of the financial services provider's stock after purchasing an additional 20,975 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Morgan Stanley were worth $23,728,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of MS. Brighton Jones LLC lifted its stake in shares of Morgan Stanley by 10.2% in the 4th quarter. Brighton Jones LLC now owns 12,782 shares of the financial services provider's stock valued at $1,607,000 after acquiring an additional 1,185 shares during the last quarter. RFG Advisory LLC raised its position in Morgan Stanley by 184.3% during the 1st quarter. RFG Advisory LLC now owns 6,449 shares of the financial services provider's stock worth $752,000 after purchasing an additional 4,181 shares during the last quarter. Apella Capital LLC bought a new position in Morgan Stanley during the 1st quarter worth $316,000. Secure Asset Management LLC bought a new position in Morgan Stanley during the 1st quarter worth $202,000. Finally, Naples Global Advisors LLC raised its position in Morgan Stanley by 23.9% during the 1st quarter. Naples Global Advisors LLC now owns 2,148 shares of the financial services provider's stock worth $251,000 after purchasing an additional 414 shares during the last quarter. 84.19% of the stock is currently owned by institutional investors.

Morgan Stanley Stock Performance

Shares of MS opened at $157.40 on Friday. 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 stock has a 50-day moving average of $150.30 and a 200-day moving average of $134.43. The company has a market cap of $251.27 billion, a PE ratio of 17.83, a P/E/G ratio of 1.93 and a beta of 1.32. Morgan Stanley has a one year low of $94.33 and a one year high of $163.98.

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

Morgan Stanley Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Thursday, July 31st were paid a $1.00 dividend. The ex-dividend date was Thursday, July 31st. This represents a $4.00 annualized dividend and a dividend yield of 2.5%. This is a boost from Morgan Stanley's previous quarterly dividend of $0.93. Morgan Stanley's dividend payout ratio (DPR) is 45.30%.

Morgan Stanley announced that its board has approved a share repurchase 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 shares through open market purchases. Shares repurchase programs are often a sign that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on MS shares. Evercore ISI raised their target price on Morgan Stanley from $150.00 to $165.00 and gave the stock an "outperform" rating in a research report on Tuesday. Weiss Ratings reiterated a "buy (b-)" rating on shares of Morgan Stanley in a report on Saturday, September 27th. The Goldman Sachs Group increased their price target on Morgan Stanley from $145.00 to $164.00 and gave the stock a "neutral" rating in a report on Friday. BMO Capital Markets assumed coverage on Morgan Stanley in a report on Friday. They set an "outperform" rating and a $180.00 price target for the company. Finally, Wells Fargo & Company increased their price target on Morgan Stanley from $145.00 to $165.00 and gave the stock an "equal weight" rating in a report on Tuesday, September 16th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, Morgan Stanley has a consensus rating of "Moderate Buy" and an average price target of $149.15.

Insiders Place Their Bets

In related news, insider Andrew M. Saperstein sold 43,566 shares of the firm's stock in a transaction dated Thursday, July 17th. The shares were sold at an average price of $140.97, for a total value of $6,141,499.02. Following the transaction, the insider owned 294,250 shares of the company's stock, valued at approximately $41,480,422.50. This trade represents a 12.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael A. Pizzi sold 18,000 shares of Morgan Stanley stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $140.62, for a total transaction of $2,531,160.00. Following the transaction, the insider directly owned 136,407 shares in the company, valued at approximately $19,181,552.34. This represents a 11.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 148,149 shares of company stock worth $20,841,628 in the last 90 days. Company insiders own 0.19% of the company's stock.

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.

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