Chubb Ltd maintained its stake in shares of Morgan Stanley (NYSE:MS) during the second quarter, Holdings Channel reports. The firm owned 490,472 shares of the financial services provider’s stock at the end of the second quarter. Morgan Stanley accounts for approximately 9.3% of Chubb Ltd’s portfolio, making the stock its largest position. Chubb Ltd’s holdings in Morgan Stanley were worth $21,855,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Regent Investment Management LLC raised its stake in shares of Morgan Stanley by 185.6% in the first quarter. Regent Investment Management LLC now owns 59,270 shares of the financial services provider’s stock worth $2,539,000 after buying an additional 38,520 shares during the period. Fox Run Management L.L.C. acquired a new stake in shares of Morgan Stanley during the first quarter worth approximately $480,000. Cornerstone Financial Partners LLC raised its stake in shares of Morgan Stanley by 23.7% in the first quarter. Cornerstone Financial Partners LLC now owns 75,695 shares of the financial services provider’s stock worth $3,237,000 after buying an additional 14,513 shares during the period. Atria Investments LLC raised its stake in shares of Morgan Stanley by 16.1% in the first quarter. Atria Investments LLC now owns 10,664 shares of the financial services provider’s stock worth $457,000 after buying an additional 1,476 shares during the period. Finally, BKD Wealth Advisors LLC raised its stake in shares of Morgan Stanley by 9.8% in the first quarter. BKD Wealth Advisors LLC now owns 10,394 shares of the financial services provider’s stock worth $445,000 after buying an additional 928 shares during the period. Institutional investors and hedge funds own 85.67% of the company’s stock.
Shares of Morgan Stanley (NYSE MS) opened at 47.65 on Thursday. Morgan Stanley has a 52 week low of $28.86 and a 52 week high of $48.90. The company has a market capitalization of $87.68 billion, a PE ratio of 13.65 and a beta of 1.63. The company has a 50-day moving average price of $46.07 and a 200-day moving average price of $44.35. Morgan Stanley also was the recipient of some unusual options trading on Monday. Traders acquired 6,765 call options on the company. This is an increase of 381% compared to the typical daily volume of 1,407 call options.
Morgan Stanley (NYSE:MS) last issued its earnings results on Wednesday, July 19th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.11. The company had revenue of $9.50 billion for the quarter, compared to the consensus estimate of $9.05 billion. Morgan Stanley had a return on equity of 9.83% and a net margin of 16.77%. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the company earned $0.75 EPS. Analysts predict that Morgan Stanley will post $3.52 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 31st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.10%. The ex-dividend date is Thursday, July 27th. This is an increase from Morgan Stanley’s previous quarterly dividend of $0.20. Morgan Stanley’s dividend payout ratio (DPR) is 28.65%.
Morgan Stanley announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, June 28th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 6.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.
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A number of brokerages have commented on MS. Wells Fargo & Company began coverage on shares of Morgan Stanley in a research note on Wednesday. They set a “market perform” rating for the company. BMO Capital Markets lifted their price objective on shares of Morgan Stanley from $58.00 to $61.00 and gave the stock an “outperform” rating in a report on Thursday, July 20th. Credit Suisse Group reaffirmed a “neutral” rating and set a $49.00 price objective (up from $47.00) on shares of Morgan Stanley in a report on Saturday, July 22nd. Macquarie reaffirmed an “outperform” rating and set a $52.00 price objective (up from $51.00) on shares of Morgan Stanley in a report on Saturday, July 22nd. Finally, Zacks Investment Research raised shares of Morgan Stanley from a “sell” rating to a “hold” rating in a report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $47.61.
In related news, CFO Jonathan Pruzan sold 25,767 shares of Morgan Stanley stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $46.68, for a total transaction of $1,202,803.56. Following the sale, the chief financial officer now owns 196,708 shares of the company’s stock, valued at approximately $9,182,329.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman James P. Gorman sold 212,366 shares of Morgan Stanley stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $47.26, for a total value of $10,036,417.16. Following the sale, the chairman now directly owns 1,602,609 shares in the company, valued at approximately $75,739,301.34. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by company insiders.
About Morgan Stanley
Morgan Stanley is a financial holding company. The Company’s segments include Institutional Securities, Wealth Management and Investment Management. The Company’s Institutional Securities business segment provides investment banking, sales and trading, and other services to corporations, governments, financial institutions and high-to-ultra high net worth clients.
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