Texas Permanent School Fund lowered its position in shares of Morgan Stanley (NYSE:MS) by 4.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 400,194 shares of the financial services provider’s stock after selling 19,656 shares during the period. Texas Permanent School Fund’s holdings in Morgan Stanley were worth $17,833,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MS. Parkside Financial Bank & Trust increased its position in Morgan Stanley by 9.1% in the second quarter. Parkside Financial Bank & Trust now owns 2,275 shares of the financial services provider’s stock worth $101,000 after buying an additional 190 shares during the last quarter. Invictus RG acquired a new position in Morgan Stanley during the first quarter worth about $106,000. V Wealth Management LLC acquired a new position in Morgan Stanley during the second quarter worth about $106,000. FTB Advisors Inc. increased its position in Morgan Stanley by 8.1% in the first quarter. FTB Advisors Inc. now owns 2,605 shares of the financial services provider’s stock worth $112,000 after buying an additional 196 shares during the last quarter. Finally, State of Alaska Department of Revenue acquired a new position in Morgan Stanley during the first quarter worth about $120,000. Institutional investors own 85.67% of the company’s stock.
Morgan Stanley (NYSE MS) opened at 47.65 on Thursday. The company has a market capitalization of $87.68 billion, a PE ratio of 13.65 and a beta of 1.63. The stock’s 50 day moving average is $46.07 and its 200 day moving average is $44.35. Morgan Stanley has a 52 week low of $28.59 and a 52 week high of $48.90. Morgan Stanley also saw unusually large options trading on Monday. Stock investors acquired 6,765 call options on the company. This is an increase of 381% compared to the average 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 for the quarter, topping analysts’ consensus estimates of $0.76 by $0.11. Morgan Stanley had a return on equity of 9.83% and a net margin of 16.77%. The company had revenue of $9.50 billion for the quarter, compared to analyst estimates of $9.05 billion. During the same period in the prior year, the firm earned $0.75 earnings per share. Morgan Stanley’s revenue for the quarter was up 6.7% on a year-over-year basis. Analysts predict that Morgan Stanley will post $3.52 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.10%. This is a positive change from Morgan Stanley’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, July 27th. Morgan Stanley’s dividend payout ratio is presently 28.65%.
Morgan Stanley announced that its board has approved a share repurchase plan on Wednesday, June 28th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 6.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.
A number of research analysts have issued reports on MS shares. Zacks Investment Research upgraded shares of Morgan Stanley from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a research report on Thursday, May 18th. Rafferty Capital Markets restated a “buy” rating and set a $50.00 target price on shares of Morgan Stanley in a research report on Saturday, April 22nd. J P Morgan Chase & Co restated a “buy” rating on shares of Morgan Stanley in a research report on Tuesday, May 23rd. Instinet restated a “buy” rating and set a $50.00 target price (down from $51.00) on shares of Morgan Stanley in a research report on Saturday, June 3rd. Finally, Royal Bank Of Canada restated a “buy” rating and set a $50.00 target price on shares of Morgan Stanley in a research report on Tuesday, June 6th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $47.61.
In other news, CFO Jonathan Pruzan sold 25,767 shares of the company’s 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 transaction, the chief financial officer now directly owns 196,708 shares of the company’s stock, valued at $9,182,329.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman James P. Gorman sold 212,366 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $47.26, for a total value of $10,036,417.16. Following the transaction, the chairman now directly owns 1,602,609 shares in the company, valued at $75,739,301.34. The disclosure for this sale can be found here. 0.35% of the stock is owned by corporate 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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