Burney Co. lifted its position in shares of Morgan Stanley (NYSE:MS - Free Report) by 85.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,942 shares of the financial services provider's stock after purchasing an additional 21,226 shares during the quarter. Burney Co.'s holdings in Morgan Stanley were worth $5,360,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. Wakefield Asset Management LLLP bought a new position in shares of Morgan Stanley during the 1st quarter worth approximately $2,261,000. Wedbush Securities Inc. increased its stake in shares of Morgan Stanley by 28.4% in the 1st quarter. Wedbush Securities Inc. now owns 8,475 shares of the financial services provider's stock valued at $989,000 after buying an additional 1,872 shares during the period. IMA Advisory Services Inc. acquired a new stake in shares of Morgan Stanley in the 1st quarter valued at $45,000. Convergence Investment Partners LLC increased its stake in shares of Morgan Stanley by 8.3% in the 1st quarter. Convergence Investment Partners LLC now owns 13,558 shares of the financial services provider's stock valued at $1,582,000 after buying an additional 1,034 shares during the period. Finally, Roundview Capital LLC increased its stake in shares of Morgan Stanley by 3.3% in the 1st quarter. Roundview Capital LLC now owns 4,335 shares of the financial services provider's stock valued at $506,000 after buying an additional 137 shares during the period. Institutional investors own 84.19% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have recently commented on MS. Wells Fargo & Company lifted 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. JPMorgan Chase & Co. lowered their target price on Morgan Stanley from $125.00 to $122.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Citigroup reaffirmed a "neutral" rating and set a $130.00 price objective (up from $125.00) on shares of Morgan Stanley in a research note on Wednesday, June 18th. JMP Securities reaffirmed a "market perform" rating on shares of Morgan Stanley in a research note on Monday, April 14th. Finally, Evercore ISI decreased their price objective on Morgan Stanley from $150.00 to $138.00 and set an "outperform" rating for the company in a research note on Tuesday, April 1st. Nine research 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 company's stock. According to MarketBeat, Morgan Stanley has an average rating of "Hold" and an average price target of $138.25.
Check Out Our Latest Stock Analysis on Morgan Stanley
Morgan Stanley Stock Up 0.4%
MS stock traded up $0.50 during mid-day trading on Friday, reaching $143.00. 3,462,907 shares of the company traded hands, compared to its average volume of 5,791,441. The stock has a market cap of $229.42 billion, a price-to-earnings ratio of 16.19, a P/E/G ratio of 1.80 and a beta of 1.30. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 3.11. Morgan Stanley has a fifty-two week low of $90.94 and a fifty-two week high of $145.16. The firm's 50 day moving average price is $135.37 and its 200 day moving average price is $127.74.
Morgan Stanley (NYSE:MS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $2.13 EPS for the quarter, topping analysts' consensus estimates of $1.98 by $0.15. Morgan Stanley had a return on equity of 15.33% and a net margin of 13.06%. The firm had revenue of $16.79 billion during the quarter, compared to analyst estimates of $16.15 billion. During the same period last year, the company earned $1.82 earnings per share. The business's revenue for the quarter was up 11.8% on a year-over-year basis. As a group, equities research analysts predict that Morgan Stanley will post 8.56 EPS for the current fiscal year.
Morgan Stanley Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Thursday, July 31st will be issued a $1.00 dividend. This is a positive change from Morgan Stanley's previous quarterly dividend of $0.93. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend is Thursday, July 31st. Morgan Stanley's dividend payout ratio (DPR) is presently 41.90%.
Morgan Stanley declared that its board has approved a share buyback plan on Tuesday, July 1st that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 8.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.
Insider Transactions at Morgan Stanley
In other news, insider Charles A. Smith sold 20,000 shares of the company's stock in a transaction 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 transaction, the insider owned 119,239 shares of the company's stock, valued at approximately $16,729,231.70. This represents a 14.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Andrew M. Saperstein sold 43,566 shares of the stock in a transaction on 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 in the company, valued at approximately $41,480,422.50. This represents a 12.90% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 188,949 shares of company stock valued at $25,737,084. 0.19% of the stock is currently owned by company insiders.
Morgan Stanley Profile
(
Free Report)
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.
Featured Stories
Before you consider Morgan Stanley, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Morgan Stanley wasn't on the list.
While Morgan Stanley currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
