Great West Life Assurance Co. Can grew its stake in shares of Morgan Stanley (NYSE:MS) by 19.7% in the first quarter, HoldingsChannel.com reports. The fund owned 1,544,538 shares of the financial services provider’s stock after acquiring an additional 254,503 shares during the quarter. Great West Life Assurance Co. Can’s holdings in Morgan Stanley were worth $65,024,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the company. Nalls Sherbakoff Group LLC acquired a new position in shares of Morgan Stanley during the 4th quarter worth $28,000. Liberty Wealth Management LLC acquired a new position in shares of Morgan Stanley during the 4th quarter worth $29,000. CWM LLC raised its holdings in shares of Morgan Stanley by 72.6% during the 4th quarter. CWM LLC now owns 799 shares of the financial services provider’s stock worth $32,000 after buying an additional 336 shares in the last quarter. Destination Wealth Management raised its holdings in shares of Morgan Stanley by 38.7% during the 1st quarter. Destination Wealth Management now owns 771 shares of the financial services provider’s stock worth $33,000 after buying an additional 215 shares in the last quarter. Finally, San Francisco Sentry Investment Group CA raised its holdings in shares of Morgan Stanley by 63.7% during the 4th quarter. San Francisco Sentry Investment Group CA now owns 1,002 shares of the financial services provider’s stock worth $39,000 after buying an additional 390 shares in the last quarter. Hedge funds and other institutional investors own 84.39% of the company’s stock.
In related news, 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 transaction of $1,060,000.00. Following the sale, the chief financial officer now owns 169,031 shares in the company, valued at approximately $7,166,914.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Daniel A. Simkowitz bought 7,000 shares of the business’s stock in a transaction that occurred on Thursday, April 18th. The shares were acquired at an average price of $47.57 per share, for a total transaction of $332,990.00. Following the transaction, the insider now owns 193,089 shares in the company, valued at $9,185,243.73. The disclosure for this purchase can be found here. Corporate insiders own 0.23% of the company’s stock.
Morgan Stanley (NYSE:MS) last issued its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.16. The company had revenue of $10.29 billion during the quarter, compared to analysts’ expectations of $9.96 billion. Morgan Stanley had a return on equity of 11.45% and a net margin of 16.75%. The business’s quarterly revenue was down 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.45 earnings per share. As a group, research analysts predict that Morgan Stanley will post 4.79 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th were paid a $0.30 dividend. The ex-dividend date of this dividend was Monday, April 29th. This represents a $1.20 annualized dividend and a dividend yield of 2.76%. Morgan Stanley’s payout ratio is 26.03%.
A number of brokerages have issued reports on MS. Societe Generale cut Morgan Stanley from a “hold” rating to a “sell” rating in a report on Friday, February 1st. ValuEngine cut Morgan Stanley from a “sell” rating to a “strong sell” rating in a report on Saturday, February 23rd. Credit Suisse Group reaffirmed a “buy” rating and issued a $56.00 target price on shares of Morgan Stanley in a report on Wednesday, February 20th. HSBC set a $48.00 target price on Morgan Stanley and gave the stock a “neutral” rating in a report on Thursday, April 4th. Finally, Zacks Investment Research cut Morgan Stanley from a “hold” rating to a “sell” rating in a report on Monday, March 11th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $56.24.
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. The company operates through Institutional Securities, Wealth Management, and Investment Management segments.
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