YHB Investment Advisors Inc. decreased its stake in Morgan Stanley (NYSE:MS) by 74.3% during the second quarter, Holdings Channel reports. The firm owned 17,992 shares of the financial services provider’s stock after selling 51,925 shares during the period. YHB Investment Advisors Inc.’s holdings in Morgan Stanley were worth $802,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Lee Danner & Bass Inc. boosted its position in shares of Morgan Stanley by 0.3% in the first quarter. Lee Danner & Bass Inc. now owns 8,685 shares of the financial services provider’s stock valued at $372,000 after buying an additional 22 shares during the period. Guardian Life Insurance Co. of America boosted its position in shares of Morgan Stanley by 0.5% in the first quarter. Guardian Life Insurance Co. of America now owns 5,551 shares of the financial services provider’s stock valued at $238,000 after buying an additional 25 shares during the period. First Citizens Bank & Trust Co. boosted its position in shares of Morgan Stanley by 0.4% in the first quarter. First Citizens Bank & Trust Co. now owns 9,488 shares of the financial services provider’s stock valued at $406,000 after buying an additional 34 shares during the period. Adirondack Trust Co. boosted its position in shares of Morgan Stanley by 2.5% in the first quarter. Adirondack Trust Co. now owns 2,824 shares of the financial services provider’s stock valued at $121,000 after buying an additional 70 shares during the period. Finally, Savant Capital LLC boosted its position in shares of Morgan Stanley by 0.8% in the first quarter. Savant Capital LLC now owns 9,677 shares of the financial services provider’s stock valued at $415,000 after buying an additional 77 shares during the period. Hedge funds and other institutional investors own 85.67% of the company’s stock.
Morgan Stanley (NYSE MS) opened at 46.30 on Friday. The company has a market cap of $85.03 billion, a PE ratio of 13.26 and a beta of 1.63. Morgan Stanley has a 52 week low of $28.86 and a 52 week high of $48.90. The company’s 50-day moving average price is $46.11 and its 200 day moving average price is $44.36.
Morgan Stanley (NYSE:MS) last released 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. The company had revenue of $9.50 billion during 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 in the previous year, the company posted $0.75 earnings per share. On average, analysts anticipate that Morgan Stanley will post $3.50 EPS for the current 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. The ex-dividend date is Thursday, July 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.16%. This is an increase from Morgan Stanley’s previous quarterly dividend of $0.20. Morgan Stanley’s payout ratio is presently 28.65%.
Morgan Stanley announced that its board has authorized a share repurchase program on Wednesday, June 28th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 6.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
Several brokerages recently issued reports on MS. HSBC Holdings plc set a $54.00 price objective on Morgan Stanley and gave the stock a “neutral” rating in a research note on Friday. Vetr upgraded Morgan Stanley from a “sell” rating to a “hold” rating and set a $40.50 price objective on the stock in a research note on Wednesday, May 17th. Citigroup Inc. raised their price objective on Morgan Stanley from $44.00 to $46.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 25th. Macquarie restated an “outperform” rating and set a $52.00 price objective (up from $51.00) on shares of Morgan Stanley in a research note on Saturday, July 22nd. Finally, Zacks Investment Research upgraded Morgan Stanley from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $48.02.
In other news, Chairman James P. Gorman sold 212,366 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $47.26, for a total transaction of $10,036,417.16. Following the completion of the sale, the chairman now owns 1,602,609 shares in the company, valued at $75,739,301.34. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Jonathan Pruzan sold 25,767 shares of the business’s stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $46.68, for a total value 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 disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.
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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