Morgan Stanley (NYSE:MS) Shares Sold by Raymond James Trust N.A.

Raymond James Trust N.A. lessened its stake in shares of Morgan Stanley (NYSE:MSGet Rating) by 9.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 32,719 shares of the financial services provider’s stock after selling 3,372 shares during the period. Raymond James Trust N.A.’s holdings in Morgan Stanley were worth $2,489,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of MS. Western Pacific Wealth Management LP purchased a new stake in Morgan Stanley during the 4th quarter valued at about $29,000. Tyler Stone Wealth Management purchased a new stake in Morgan Stanley during the 4th quarter valued at about $29,000. Sound Income Strategies LLC grew its stake in Morgan Stanley by 78.6% during the 2nd quarter. Sound Income Strategies LLC now owns 343 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 151 shares in the last quarter. Oliver Lagore Vanvalin Investment Group purchased a new stake in Morgan Stanley during the 1st quarter valued at about $32,000. Finally, Advanced Research Investment Solutions LLC purchased a new stake in Morgan Stanley during the 1st quarter valued at about $33,000. Institutional investors and hedge funds own 83.36% of the company’s stock.

Morgan Stanley Trading Down 1.8 %

Shares of Morgan Stanley stock opened at $84.77 on Friday. Morgan Stanley has a 1 year low of $72.05 and a 1 year high of $109.73. The company has a debt-to-equity ratio of 2.38, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market capitalization of $145.54 billion, a P/E ratio of 11.46, a PEG ratio of 1.61 and a beta of 1.38. The company’s fifty day moving average is $86.32 and its two-hundred day moving average is $84.11.

Morgan Stanley (NYSE:MSGet Rating) last issued its earnings results on Thursday, July 14th. The financial services provider reported $1.44 earnings per share for the quarter, missing the consensus estimate of $1.55 by ($0.11). The firm had revenue of $13.13 billion during the quarter, compared to analysts’ expectations of $13.50 billion. Morgan Stanley had a net margin of 22.76% and a return on equity of 14.33%. The firm’s revenue was down 11.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.89 EPS. Analysts forecast that Morgan Stanley will post 6.69 earnings per share for the current year.

Morgan Stanley announced that its Board of Directors has approved a stock buyback plan on Monday, June 27th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the financial services provider to reacquire up to 14.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Morgan Stanley Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 15th. Stockholders of record on Friday, July 29th were issued a $0.775 dividend. This is an increase from Morgan Stanley’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Thursday, July 28th. This represents a $3.10 annualized dividend and a dividend yield of 3.66%. Morgan Stanley’s payout ratio is presently 41.89%.

Insider Activity

In related news, major shareholder Stanley Morgan acquired 8,598 shares of Morgan Stanley stock in a transaction that occurred on Thursday, July 28th. The stock was purchased at an average price of $8.41 per share, for a total transaction of $72,309.18. Following the completion of the purchase, the insider now directly owns 8,598 shares of the company’s stock, valued at $72,309.18. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MS shares. The Goldman Sachs Group upped their price objective on shares of Morgan Stanley from $85.00 to $94.00 and gave the company a “buy” rating in a research note on Wednesday. Piper Sandler dropped their price target on shares of Morgan Stanley from $100.00 to $90.00 and set a “neutral” rating for the company in a research note on Friday, July 1st. Wells Fargo & Company dropped their price target on shares of Morgan Stanley from $91.00 to $83.00 and set an “equal weight” rating for the company in a research note on Friday, July 1st. Credit Suisse Group increased their price target on shares of Morgan Stanley from $95.00 to $97.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Royal Bank of Canada dropped their price target on shares of Morgan Stanley from $97.00 to $80.00 and set a “sector perform” rating for the company in a research note on Tuesday, June 28th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Morgan Stanley presently has a consensus rating of “Hold” and a consensus price target of $99.38.

About Morgan Stanley

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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. It operates through Institutional Securities, Wealth Management, and Investment Management segments.

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Institutional Ownership by Quarter for Morgan Stanley (NYSE:MS)

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