Wharton Business Group LLC Reduces Stock Position in Morgan Stanley (NYSE:MS)

Wharton Business Group LLC lowered its holdings in shares of Morgan Stanley (NYSE:MSGet Rating) by 4.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,329 shares of the financial services provider’s stock after selling 285 shares during the quarter. Wharton Business Group LLC’s holdings in Morgan Stanley were worth $553,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of MS. Confluence Wealth Services Inc. purchased a new position in Morgan Stanley during the 4th quarter valued at $55,000. Exencial Wealth Advisors LLC lifted its holdings in shares of Morgan Stanley by 128.7% in the 4th quarter. Exencial Wealth Advisors LLC now owns 5,501 shares of the financial services provider’s stock worth $540,000 after buying an additional 3,096 shares during the period. Covestor Ltd purchased a new stake in shares of Morgan Stanley in the 4th quarter worth $37,000. Linscomb & Williams Inc. purchased a new stake in shares of Morgan Stanley in the 4th quarter worth $282,000. Finally, Citizens Financial Group Inc RI lifted its holdings in shares of Morgan Stanley by 1.9% in the 4th quarter. Citizens Financial Group Inc RI now owns 13,743 shares of the financial services provider’s stock worth $1,288,000 after buying an additional 252 shares during the period. Hedge funds and other institutional investors own 83.36% of the company’s stock.

Insider Activity

In other news, major shareholder Stanley Morgan acquired 8,598 shares of the business’s stock in a transaction dated Thursday, July 28th. The shares were acquired at an average cost of $8.41 per share, with a total value of $72,309.18. Following the completion of the acquisition, the insider now owns 8,598 shares of the company’s stock, valued at $72,309.18. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.26% of the company’s stock.

Morgan Stanley Trading Down 3.4 %

Shares of NYSE:MS opened at $87.05 on Wednesday. The business’s 50-day moving average is $84.74 and its 200 day moving average is $84.10. Morgan Stanley has a 1 year low of $72.05 and a 1 year high of $109.73. The firm has a market capitalization of $149.45 billion, a P/E ratio of 11.76, a P/E/G ratio of 1.67 and a beta of 1.38. The company has a debt-to-equity ratio of 2.38, a current ratio of 0.80 and a quick ratio of 0.80.

Morgan Stanley (NYSE:MSGet Rating) last announced its quarterly earnings data on Thursday, July 14th. The financial services provider reported $1.39 earnings per share for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.32). The firm had revenue of $13.13 billion during the quarter, compared to analyst estimates of $13.50 billion. Morgan Stanley had a net margin of 22.76% and a return on equity of 14.33%. The firm’s revenue for the quarter was down 11.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.89 earnings per share. On average, research analysts predict that Morgan Stanley will post 6.69 earnings per share for the current fiscal year.

Morgan Stanley announced that its Board of Directors has approved a share repurchase program on Monday, June 27th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 14.8% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Morgan Stanley Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 15th. Stockholders of record on Friday, July 29th were issued a $0.775 dividend. The ex-dividend date was Thursday, July 28th. This is a positive change from Morgan Stanley’s previous quarterly dividend of $0.70. This represents a $3.10 dividend on an annualized basis and a dividend yield of 3.56%. Morgan Stanley’s dividend payout ratio is currently 41.89%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Credit Suisse Group lowered their target price on Morgan Stanley from $100.00 to $95.00 and set an “outperform” rating for the company in a report on Monday, July 4th. Deutsche Bank Aktiengesellschaft reduced their price target on Morgan Stanley from $105.00 to $92.00 and set a “hold” rating for the company in a research report on Monday. Wells Fargo & Company reduced their price target on Morgan Stanley from $91.00 to $83.00 and set an “equal weight” rating for the company in a research report on Friday, July 1st. Piper Sandler reduced their price target on Morgan Stanley from $100.00 to $90.00 and set a “neutral” rating for the company in a research report on Friday, July 1st. Finally, Royal Bank of Canada reduced their price target on Morgan Stanley from $97.00 to $80.00 and set a “sector perform” rating for the company in a research report on Tuesday, June 28th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $100.08.

Morgan Stanley Profile

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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.

See Also

Want to see what other hedge funds are holding MS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Morgan Stanley (NYSE:MSGet Rating).

Institutional Ownership by Quarter for Morgan Stanley (NYSE:MS)

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