Morgan Stanley (NYSE:MS) Shares Bought by Resona Asset Management Co. Ltd.

Key Points

• Resona Asset Management Co. Ltd. increased its stake in Morgan Stanley by 7.6% during Q1, owning 395,862 shares valued at approximately $46.1 million as of its latest SEC filing.
• Morgan Stanley's recently declared quarterly dividend of $1.00 per share marks a 7.5% increase from its previous dividend and represents an annualized yield of 2.8%.
• The company authorized a $20 billion stock buyback, allowing it to repurchase up to 8.9% of its outstanding shares, indicating management's belief that the shares are undervalued.

Resona Asset Management Co. Ltd. raised its stake in Morgan Stanley (NYSE:MS - Free Report) by 7.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 395,862 shares of the financial services provider's stock after purchasing an additional 28,125 shares during the period. Resona Asset Management Co. Ltd.'s holdings in Morgan Stanley were worth $46,102,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of MS. Brighton Jones LLC raised its position in 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 purchasing an additional 1,185 shares in the last quarter. Sagespring Wealth Partners LLC acquired a new stake in Morgan Stanley in the 4th quarter valued at about $1,640,000. Advisors Capital Management LLC raised its position in Morgan Stanley by 20.5% in the 4th quarter. Advisors Capital Management LLC now owns 7,969 shares of the financial services provider's stock valued at $1,002,000 after purchasing an additional 1,358 shares in the last quarter. WealthTrust Axiom LLC acquired a new stake in Morgan Stanley in the 4th quarter valued at about $223,000. Finally, SageView Advisory Group LLC raised its position in Morgan Stanley by 5.5% in the 4th quarter. SageView Advisory Group LLC now owns 6,935 shares of the financial services provider's stock valued at $872,000 after purchasing an additional 361 shares in the last quarter. Institutional investors and hedge funds own 84.19% of the company's stock.

Morgan Stanley Stock Up 0.5%

MS opened at $143.87 on Tuesday. 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 business has a 50 day simple moving average of $138.55 and a 200-day simple moving average of $128.44. The stock has a market capitalization of $229.66 billion, a P/E ratio of 16.29, a P/E/G ratio of 1.79 and a beta of 1.32. Morgan Stanley has a 12 month low of $93.54 and a 12 month high of $145.48.

Morgan Stanley (NYSE:MS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $16.79 billion during the quarter, compared to analysts' expectations of $16.15 billion. During the same period in the previous year, the firm posted $1.82 earnings per share. Morgan Stanley's revenue was up 11.8% on a year-over-year basis. On average, equities analysts anticipate that Morgan Stanley will post 8.56 earnings per share for the current fiscal year.

Morgan Stanley Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 31st will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.8%. This is a boost from Morgan Stanley's previous quarterly dividend of $0.93. The ex-dividend date of this dividend is Thursday, July 31st. Morgan Stanley's dividend payout ratio (DPR) is presently 45.30%.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on MS shares. JPMorgan Chase & Co. reduced their price target on Morgan Stanley from $125.00 to $122.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Citigroup reissued a "neutral" rating and set a $130.00 target price (up previously from $125.00) on shares of Morgan Stanley in a research report on Wednesday, June 18th. Keefe, Bruyette & Woods raised Morgan Stanley from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $127.00 to $160.00 in a research report on Wednesday, July 9th. Wells Fargo & Company raised their target price on Morgan Stanley from $120.00 to $145.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. Finally, Erste Group Bank raised Morgan Stanley from a "hold" rating to a "strong-buy" rating in a research report on Saturday, May 24th. Nine analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $138.25.

Insider Activity

In related news, insider Daniel A. Simkowitz sold 29,000 shares of the stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $141.13, for a total value of $4,092,770.00. Following the completion of the transaction, the insider owned 399,105 shares of the company's stock, valued at approximately $56,325,688.65. This represents a 6.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Andrew M. Saperstein sold 43,566 shares of the 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 completion of the transaction, the insider directly owned 294,250 shares of the company's stock, valued at $41,480,422.50. This represents a 12.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 148,149 shares of company stock valued at $20,841,628 in the last 90 days. 0.19% of the stock is owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.