Cornerstone Wealth Group LLC bought a new position in shares of Morgan Stanley (NYSE:MS) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 36,948 shares of the financial services provider’s stock, valued at approximately $1,559,000.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Springhouse Capital Management LP bought a new stake in Morgan Stanley in the 4th quarter valued at $8,069,000. Lowe Brockenbrough & Co. Inc. raised its holdings in Morgan Stanley by 0.6% in the 4th quarter. Lowe Brockenbrough & Co. Inc. now owns 115,414 shares of the financial services provider’s stock valued at $4,576,000 after acquiring an additional 735 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in Morgan Stanley by 31.6% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 88,206 shares of the financial services provider’s stock valued at $3,497,000 after acquiring an additional 21,173 shares in the last quarter. QUANTRES ASSET MANAGEMENT Ltd acquired a new position in Morgan Stanley in the 1st quarter valued at $827,000. Finally, Morgan Stanley raised its holdings in Morgan Stanley by 6.2% in the 3rd quarter. Morgan Stanley now owns 731,978 shares of the financial services provider’s stock valued at $34,088,000 after acquiring an additional 43,032 shares in the last quarter. Institutional investors own 86.11% of the company’s stock.
In other news, insider Daniel A. Simkowitz bought 7,000 shares of the stock in a transaction on Thursday, April 18th. The stock was acquired at an average price of $47.57 per share, with a total value of $332,990.00. Following the acquisition, the insider now directly owns 193,089 shares in the company, valued at $9,185,243.73. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Paul C. Wirth sold 25,000 shares of the company’s stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $42.40, for a total value of $1,060,000.00. Following the completion of the transaction, the chief financial officer now directly owns 169,031 shares of the company’s stock, valued at approximately $7,166,914.40. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by insiders.
Morgan Stanley (NYSE:MS) last posted its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.16. Morgan Stanley had a return on equity of 11.50% and a net margin of 16.75%. The company had revenue of $10.29 billion during the quarter, compared to analysts’ expectations of $9.96 billion. During the same quarter in the previous year, the firm earned $1.45 EPS. Morgan Stanley’s revenue was down 7.1% on a year-over-year basis. As a group, research analysts forecast that Morgan Stanley will post 4.79 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.57%. Morgan Stanley’s dividend payout ratio (DPR) is currently 26.03%.
Several equities analysts have weighed in on the company. Zacks Investment Research cut Morgan Stanley from a “hold” rating to a “sell” rating in a report on Monday, March 11th. Societe Generale cut Morgan Stanley from a “hold” rating to a “sell” rating in a report on Friday, February 1st. Royal Bank of Canada reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Morgan Stanley in a report on Thursday, April 18th. Credit Suisse Group reaffirmed a “buy” rating and issued a $56.00 price objective on shares of Morgan Stanley in a report on Wednesday, February 20th. Finally, Citigroup raised Morgan Stanley from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $50.00 to $48.00 in a report on Wednesday, January 9th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $56.24.
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Morgan Stanley 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. The company operates through Institutional Securities, Wealth Management, and Investment Management segments.
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