Engineers Gate Manager LP increased its stake in shares of Morgan Stanley (NYSE:MS) by 918.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 43,001 shares of the financial services provider’s stock after buying an additional 38,779 shares during the quarter. Engineers Gate Manager LP’s holdings in Morgan Stanley were worth $2,003,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of MS. CSat Investment Advisory L.P. acquired a new stake in Morgan Stanley during the second quarter worth approximately $102,000. First Mercantile Trust Co. acquired a new stake in shares of Morgan Stanley in the 2nd quarter valued at $112,000. Landaas & Co. WI ADV acquired a new stake in shares of Morgan Stanley in the 2nd quarter valued at $119,000. Harvest Fund Management Co. Ltd boosted its holdings in shares of Morgan Stanley by 108.8% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 2,815 shares of the financial services provider’s stock valued at $131,000 after purchasing an additional 1,467 shares in the last quarter. Finally, Kaizen Advisory LLC boosted its holdings in shares of Morgan Stanley by 152.0% in the 2nd quarter. Kaizen Advisory LLC now owns 3,395 shares of the financial services provider’s stock valued at $161,000 after purchasing an additional 2,048 shares in the last quarter. 84.43% of the stock is currently owned by institutional investors and hedge funds.
In other news, major shareholder Stanley Morgan sold 327 shares of the stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $23,000.00, for a total value of $7,521,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.
A number of brokerages have weighed in on MS. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $62.00 target price on shares of Morgan Stanley in a report on Monday, September 10th. Sandler O’Neill reaffirmed a “hold” rating and issued a $51.00 target price on shares of Morgan Stanley in a report on Friday, July 13th. ValuEngine raised Morgan Stanley from a “sell” rating to a “hold” rating in a report on Thursday, July 19th. Zacks Investment Research downgraded Morgan Stanley from a “buy” rating to a “hold” rating in a report on Tuesday, August 14th. Finally, Societe Generale reaffirmed a “$49.85” rating and issued a $56.00 target price on shares of Morgan Stanley in a report on Thursday, July 19th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $58.82.
Shares of MS opened at $45.72 on Wednesday. Morgan Stanley has a 52 week low of $42.88 and a 52 week high of $59.38. The firm has a market capitalization of $80.17 billion, a PE ratio of 9.65, a PEG ratio of 0.79 and a beta of 1.28. The company has a debt-to-equity ratio of 2.67, a current ratio of 0.83 and a quick ratio of 0.83.
Morgan Stanley (NYSE:MS) last announced its quarterly earnings results on Tuesday, October 16th. The financial services provider reported $1.17 EPS for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.16. Morgan Stanley had a return on equity of 12.53% and a net margin of 15.93%. The company had revenue of $9.87 billion during the quarter, compared to analysts’ expectations of $9.55 billion. During the same period in the prior year, the company earned $0.93 EPS. Morgan Stanley’s revenue was up 7.3% compared to the same quarter last year. As a group, analysts expect that Morgan Stanley will post 4.94 EPS for the current year.
Morgan Stanley declared that its Board of Directors has approved a share buyback plan on Wednesday, July 18th that permits the company to repurchase $4.70 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 5.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Wednesday, October 31st will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend is Tuesday, October 30th. Morgan Stanley’s payout ratio is 33.33%.
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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 Institutional Securities, Wealth Management, and Investment Management segments.
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