Convergence Investment Partners LLC Sells 146 Shares of Morgan Stanley $MS

Convergence Investment Partners LLC decreased its position in shares of Morgan Stanley (NYSE:MS) by 1.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 13,412 shares of the financial services provider’s stock after selling 146 shares during the quarter. Convergence Investment Partners LLC’s holdings in Morgan Stanley were worth $1,889,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Princeton Global Asset Management LLC boosted its stake in Morgan Stanley by 645.8% in the 2nd quarter. Princeton Global Asset Management LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 155 shares during the period. CBIZ Investment Advisory Services LLC boosted its stake in Morgan Stanley by 111.0% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 211 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 111 shares during the period. MorganRosel Wealth Management LLC bought a new position in Morgan Stanley in the 1st quarter worth about $27,000. RMG Wealth Management LLC bought a new position in Morgan Stanley in the 2nd quarter worth about $35,000. Finally, Abound Wealth Management boosted its stake in Morgan Stanley by 58.5% in the 2nd quarter. Abound Wealth Management now owns 252 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 93 shares during the period. Institutional investors own 84.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on MS shares. Weiss Ratings restated a “buy (b-)” rating on shares of Morgan Stanley in a research note on Saturday. Barclays raised their target price on Morgan Stanley from $156.00 to $183.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Evercore ISI lifted their price target on Morgan Stanley from $165.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. JPMorgan Chase & Co. lifted their price target on Morgan Stanley from $122.00 to $157.00 and gave the company a “neutral” rating in a research report on Tuesday, October 21st. Finally, Royal Bank Of Canada lifted their price target on Morgan Stanley from $145.00 to $171.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 1st. Three research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $168.23.

Morgan Stanley Stock Performance

Shares of MS opened at $163.78 on Monday. The company has a market cap of $261.45 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 1.70 and a beta of 1.32. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 3.30. Morgan Stanley has a 12-month low of $94.33 and a 12-month high of $166.77. The stock has a 50-day moving average price of $154.69 and a 200-day moving average price of $139.33.

Morgan Stanley (NYSE:MS) last announced its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $2.80 earnings per share for the quarter, beating analysts’ consensus estimates of $2.07 by $0.73. The company had revenue of $18.22 billion for the quarter, compared to analysts’ expectations of $16.42 billion. Morgan Stanley had a return on equity of 16.55% and a net margin of 13.85%.Morgan Stanley’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same period last year, the firm posted $1.88 EPS. As a group, equities analysts forecast that Morgan Stanley will post 8.56 earnings per share for the current fiscal year.

Morgan Stanley Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, October 31st. Morgan Stanley’s dividend payout ratio (DPR) is currently 41.03%.

Morgan Stanley declared that its Board of Directors has authorized a share buyback plan on Tuesday, July 1st that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 8.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

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