First Midwest Bank Trust Division cut its holdings in shares of Morgan Stanley (NYSE:MS) by 24.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,628 shares of the financial services provider’s stock after selling 11,917 shares during the period. First Midwest Bank Trust Division’s holdings in Morgan Stanley were worth $1,784,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MS. Boston Partners lifted its stake in Morgan Stanley by 476.1% during the first quarter. Boston Partners now owns 2,120,958 shares of the financial services provider’s stock worth $114,447,000 after purchasing an additional 1,752,824 shares during the last quarter. Westwood Holdings Group Inc. bought a new position in shares of Morgan Stanley in the 1st quarter valued at $80,530,000. Toronto Dominion Bank lifted its stake in shares of Morgan Stanley by 211.9% in the 1st quarter. Toronto Dominion Bank now owns 2,087,633 shares of the financial services provider’s stock valued at $112,621,000 after acquiring an additional 1,418,331 shares during the last quarter. FIL Ltd lifted its stake in shares of Morgan Stanley by 29.2% in the 1st quarter. FIL Ltd now owns 3,867,129 shares of the financial services provider’s stock valued at $208,671,000 after acquiring an additional 875,087 shares during the last quarter. Finally, Summit Trail Advisors LLC lifted its stake in shares of Morgan Stanley by 4,471.2% in the 1st quarter. Summit Trail Advisors LLC now owns 875,756 shares of the financial services provider’s stock valued at $876,000 after acquiring an additional 856,598 shares during the last quarter. Hedge funds and other institutional investors own 85.17% of the company’s stock.
A number of research analysts have recently commented on MS shares. Zacks Investment Research cut Morgan Stanley from a “buy” rating to a “hold” rating in a research note on Thursday, June 21st. Sanford C. Bernstein started coverage on Morgan Stanley in a research note on Monday, April 9th. They issued an “underperform” rating and a $51.00 price target for the company. Vining Sparks reiterated a “buy” rating and issued a $67.00 price target on shares of Morgan Stanley in a research note on Wednesday, April 18th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $62.00 price target on shares of Morgan Stanley in a research note on Thursday, April 5th. Finally, Credit Suisse Group increased their price target on Morgan Stanley from $61.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, April 19th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $57.05.
Morgan Stanley (NYSE:MS) last announced its earnings results on Wednesday, July 18th. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.19. The business had revenue of $10.61 billion during the quarter, compared to analyst estimates of $10.05 billion. Morgan Stanley had a return on equity of 12.09% and a net margin of 15.84%. Morgan Stanley’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period last year, the company earned $0.87 EPS. analysts expect that Morgan Stanley will post 4.87 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 15th. Investors of record on Tuesday, July 31st will be given a dividend of $0.30 per share. This is a positive change from Morgan Stanley’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 2.42%. The ex-dividend date is Monday, July 30th. Morgan Stanley’s dividend payout ratio (DPR) is currently 33.33%.
Morgan Stanley declared that its Board of Directors has initiated a stock buyback program on Thursday, June 28th that authorizes the company to buyback $4.70 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 5.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
Morgan Stanley Company 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 three segments: Institutional Securities, Wealth Management, and Investment Management.
Read More: Understanding Stock Ratings
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:MS).
Receive News & Ratings for Morgan Stanley Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Morgan Stanley and related companies with MarketBeat.com's FREE daily email newsletter.