Morgan Stanley $MS Shares Sold by Advocate Group LLC

Advocate Group LLC lessened its stake in Morgan Stanley (NYSE:MS) by 2.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 74,992 shares of the financial services provider’s stock after selling 1,908 shares during the quarter. Morgan Stanley accounts for about 1.9% of Advocate Group LLC’s portfolio, making the stock its 13th largest holding. Advocate Group LLC’s holdings in Morgan Stanley were worth $10,563,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. CBIZ Investment Advisory Services LLC raised its holdings 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 purchased a new stake in shares of Morgan Stanley in the first quarter valued at approximately $27,000. RMG Wealth Management LLC purchased a new position in Morgan Stanley in the second quarter worth approximately $35,000. Abound Wealth Management grew its position in Morgan Stanley by 58.5% in the second quarter. Abound Wealth Management now owns 252 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 93 shares during the period. Finally, Garde Capital Inc. purchased a new position in Morgan Stanley in the first quarter worth approximately $30,000. Institutional investors and hedge funds own 84.19% of the company’s stock.

Morgan Stanley Price Performance

Shares of NYSE:MS opened at $152.07 on Friday. The company has a 50-day moving average price of $151.61 and a 200 day moving average price of $135.68. Morgan Stanley has a 52 week low of $94.33 and a 52 week high of $163.98. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 3.30. The company has a market cap of $242.76 billion, a P/E ratio of 17.22, a PEG ratio of 1.77 and a beta of 1.32.

Morgan Stanley (NYSE:MS) last issued its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.15. The business had revenue of $16.79 billion during the quarter, compared to analysts’ expectations of $16.15 billion. Morgan Stanley had a net margin of 13.06% and a return on equity of 15.20%. The company’s revenue was up 11.8% on a year-over-year basis. During the same period last year, the company posted $1.82 EPS. Research analysts predict that Morgan Stanley will post 8.56 earnings per share for the current year.

Morgan Stanley announced that its Board of Directors has initiated a share repurchase plan on Tuesday, July 1st that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 8.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Morgan Stanley Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Thursday, July 31st were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $4.00 annualized dividend and a dividend yield of 2.6%. This is a boost from Morgan Stanley’s previous quarterly dividend of $0.93. Morgan Stanley’s dividend payout ratio is presently 45.30%.

Insider Buying and Selling at Morgan Stanley

In related news, insider Charles A. Smith sold 20,000 shares of Morgan Stanley stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $140.30, for a total transaction of $2,806,000.00. Following the transaction, the insider owned 119,239 shares in the company, valued at approximately $16,729,231.70. The trade was a 14.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Daniel A. Simkowitz sold 29,000 shares of Morgan Stanley stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $141.13, for a total transaction of $4,092,770.00. Following the transaction, the insider owned 399,105 shares in the company, valued at $56,325,688.65. The trade was a 6.77% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 148,149 shares of company stock worth $20,841,628. Corporate insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on MS shares. Citigroup upped their price target on Morgan Stanley from $130.00 to $155.00 and gave the stock a “neutral” rating in a research note on Friday, September 26th. Keefe, Bruyette & Woods raised Morgan Stanley from a “market perform” rating to an “outperform” rating and increased their target price for the company from $127.00 to $160.00 in a report on Wednesday, July 9th. Wells Fargo & Company raised their price objective on Morgan Stanley from $145.00 to $165.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 16th. The Goldman Sachs Group raised their price objective on Morgan Stanley from $145.00 to $164.00 and gave the stock a “neutral” rating in a report on Friday, October 3rd. Finally, Evercore ISI raised their price objective on Morgan Stanley from $150.00 to $165.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, Morgan Stanley has an average rating of “Moderate Buy” and a consensus target price of $154.85.

About Morgan Stanley

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.