Canada Pension Plan Investment Board grew its stake in Morgan Stanley (NYSE:MS) by 96.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,989,019 shares of the financial services provider’s stock after purchasing an additional 1,953,808 shares during the period. Canada Pension Plan Investment Board’s holdings in Morgan Stanley were worth $309,787,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in MS. Norges Bank bought a new stake in shares of Morgan Stanley during the fourth quarter worth $1,296,799,000. Price T Rowe Associates Inc. MD increased its position in Morgan Stanley by 12.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 98,409,202 shares of the financial services provider’s stock valued at $6,740,591,000 after acquiring an additional 10,552,671 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Morgan Stanley by 209.5% in the first quarter. Massachusetts Financial Services Co. MA now owns 13,341,552 shares of the financial services provider’s stock worth $1,036,106,000 after purchasing an additional 9,031,544 shares during the last quarter. Ontario Teachers Pension Plan Board bought a new position in Morgan Stanley during the 1st quarter worth $327,957,000. Finally, Fayez Sarofim & Co acquired a new position in Morgan Stanley during the 1st quarter worth about $264,248,000. 84.33% of the stock is currently owned by institutional investors.
A number of equities analysts recently commented on MS shares. Oppenheimer lifted their price objective on Morgan Stanley from $99.00 to $105.00 and gave the stock an “outperform” rating in a research note on Friday, July 16th. Citigroup upped their price objective on shares of Morgan Stanley from $88.00 to $97.00 and gave the company a “neutral” rating in a research note on Monday. They noted that the move was a valuation call. Credit Suisse Group reissued a “buy” rating and set a $98.00 target price on shares of Morgan Stanley in a research note on Tuesday, April 20th. Bank of America lifted their price objective on Morgan Stanley from $92.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, June 4th. Finally, Zacks Investment Research downgraded Morgan Stanley from a “buy” rating to a “hold” rating and set a $97.00 target price for the company. in a report on Wednesday, June 16th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $95.74.
NYSE MS traded down $0.18 on Thursday, reaching $95.50. The company had a trading volume of 582,232 shares, compared to its average volume of 9,309,949. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 2.16. The business has a fifty day moving average price of $90.09. Morgan Stanley has a 52-week low of $45.86 and a 52-week high of $96.05. The stock has a market capitalization of $177.69 billion, a PE ratio of 12.71, a P/E/G ratio of 1.97 and a beta of 1.56.
Morgan Stanley (NYSE:MS) last released its quarterly earnings results on Wednesday, July 14th. The financial services provider reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.22. Morgan Stanley had a net margin of 23.89% and a return on equity of 15.22%. The company had revenue of $14.76 billion for the quarter, compared to analyst estimates of $13.99 billion. During the same period last year, the firm earned $1.96 earnings per share. The firm’s revenue was up 10.0% on a year-over-year basis. Sell-side analysts predict that Morgan Stanley will post 7.42 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 13th. Stockholders of record on Friday, July 30th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend is Thursday, July 29th. This is an increase from Morgan Stanley’s previous quarterly dividend of $0.35. Morgan Stanley’s payout ratio is presently 21.28%.
Morgan Stanley declared that its board has approved a share buyback program on Monday, June 28th that authorizes the company to repurchase $12.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 7.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
Morgan Stanley Profile
Morgan Stanley operates as a global financial services company. The firm provides investment banking products and services to its clients and customers including corporations, governments, financial institutions, and individuals. It operates through the following segments: Institutional Securities, Wealth Management, and Investment Management.
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