People s United Financial Inc. lessened its stake in Morgan Stanley (NYSE:MS) by 16.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 52,237 shares of the financial services provider’s stock after selling 10,054 shares during the quarter. People s United Financial Inc.’s holdings in Morgan Stanley were worth $2,475,000 as of its most recent filing with the SEC.
Several other institutional investors also recently modified their holdings of MS. Boston Partners raised its stake in shares of Morgan Stanley by 476.1% in the 1st quarter. Boston Partners now owns 2,120,958 shares of the financial services provider’s stock valued at $114,447,000 after purchasing an additional 1,752,824 shares in the last quarter. Westwood Holdings Group Inc. acquired a new stake in shares of Morgan Stanley in the 1st quarter valued at about $80,530,000. Toronto Dominion Bank raised its stake in shares of Morgan Stanley by 211.9% in the 1st quarter. Toronto Dominion Bank now owns 2,087,633 shares of the financial services provider’s stock valued at $112,621,000 after purchasing an additional 1,418,331 shares in the last quarter. FIL Ltd raised its stake in shares of Morgan Stanley by 29.2% in the 1st quarter. FIL Ltd now owns 3,867,129 shares of the financial services provider’s stock valued at $208,671,000 after purchasing an additional 875,087 shares in the last quarter. Finally, Summit Trail Advisors LLC raised its stake in shares of Morgan Stanley by 4,471.2% in the 1st quarter. Summit Trail Advisors LLC now owns 875,756 shares of the financial services provider’s stock valued at $876,000 after purchasing an additional 856,598 shares in the last quarter. Institutional investors and hedge funds own 85.54% of the company’s stock.
Shares of NYSE:MS opened at $48.29 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 2.67. Morgan Stanley has a fifty-two week low of $43.84 and a fifty-two week high of $59.38. The stock has a market cap of $84.40 billion, a P/E ratio of 13.41, a price-to-earnings-growth ratio of 0.86 and a beta of 1.46.
Morgan Stanley (NYSE:MS) last announced its quarterly earnings data on Wednesday, July 18th. The financial services provider reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.19. Morgan Stanley had a net margin of 15.84% and a return on equity of 12.04%. The business had revenue of $10.61 billion during the quarter, compared to the consensus estimate of $10.05 billion. During the same quarter in the prior year, the firm earned $0.87 EPS. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. equities analysts expect that Morgan Stanley will post 4.86 earnings per share for the current fiscal year.
Morgan Stanley announced that its Board of Directors has authorized a share repurchase plan on Thursday, June 28th that allows the company to buyback $4.70 billion in shares. This buyback authorization allows the financial services provider to buy up to 5.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 15th. Investors of record on Tuesday, July 31st were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend was Monday, July 30th. This is an increase from Morgan Stanley’s previous quarterly dividend of $0.25. Morgan Stanley’s dividend payout ratio is currently 33.33%.
A number of equities research analysts have recently issued reports on MS shares. ValuEngine lowered shares of Morgan Stanley from a “buy” rating to a “hold” rating in a research note on Tuesday, April 24th. Zacks Investment Research upgraded shares of Morgan Stanley from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a research note on Tuesday, July 24th. Cfra restated a “buy” rating and issued a $65.00 target price on shares of Morgan Stanley in a research note on Thursday, June 21st. Sanford C. Bernstein upgraded shares of Morgan Stanley from an “underperform” rating to a “market perform” rating and set a $51.00 target price on the stock in a research note on Wednesday, July 18th. Finally, Sandler O’Neill restated a “hold” rating and issued a $51.00 target price on shares of Morgan Stanley in a research note on Friday, July 13th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $57.05.
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. The company operates through three segments: Institutional Securities, Wealth Management, and Investment Management.
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