Rock Creek Group LP lifted its position in Morgan Stanley (NYSE:MS) by 29.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,022 shares of the financial services provider’s stock after purchasing an additional 686 shares during the period. Rock Creek Group LP’s holdings in Morgan Stanley were worth $277,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently bought and sold shares of MS. Close Asset Management Ltd acquired a new position in Morgan Stanley during the first quarter worth $26,000. Trustcore Financial Services LLC acquired a new position in Morgan Stanley during the second quarter worth $26,000. Selective Wealth Management Inc. acquired a new position in Morgan Stanley during the second quarter worth $28,000. Cowen Prime Advisors LLC acquired a new position in Morgan Stanley during the second quarter worth $29,000. Finally, KB Financial Partners LLC acquired a new position in Morgan Stanley during the first quarter worth $30,000. Hedge funds and other institutional investors own 84.72% of the company’s stock.
In other Morgan Stanley news, insider Andrew M. Saperstein sold 11,465 shares of the stock in a transaction that occurred on Friday, July 16th. The shares were sold at an average price of $92.97, for a total value of $1,065,901.05. Following the transaction, the insider now directly owns 173,075 shares in the company, valued at $16,090,782.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sharon Yeshaya sold 2,500 shares of the stock in a transaction that occurred on Wednesday, July 21st. The shares were sold at an average price of $95.64, for a total transaction of $239,100.00. Following the completion of the transaction, the chief financial officer now owns 24,895 shares in the company, valued at $2,380,957.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,430 shares of company stock worth $2,370,902. 0.23% of the stock is owned by corporate insiders.
Morgan Stanley (NYSE:MS) last issued its quarterly earnings results on Wednesday, July 14th. The financial services provider reported $1.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.63 by $0.22. The business had revenue of $14.76 billion for the quarter, compared to analysts’ expectations of $13.99 billion. Morgan Stanley had a net margin of 23.89% and a return on equity of 14.86%. The business’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.96 earnings per share. On average, sell-side analysts predict that Morgan Stanley will post 7.46 earnings per share for the current year.
Morgan Stanley declared that its Board of Directors has initiated a share repurchase program on Monday, June 28th that allows the company to buyback $12.00 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 7.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Friday, August 13th. Investors of record on Friday, July 30th were issued a $0.70 dividend. This is a boost from Morgan Stanley’s previous quarterly dividend of $0.35. The ex-dividend date was Thursday, July 29th. This represents a $2.80 annualized dividend and a yield of 2.75%. Morgan Stanley’s dividend payout ratio (DPR) is 42.55%.
MS has been the subject of a number of research reports. Oppenheimer upped their target price on shares of Morgan Stanley from $99.00 to $105.00 and gave the stock an “outperform” rating in a report on Friday, July 16th. Argus upped their target price on shares of Morgan Stanley from $93.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, July 16th. Evercore ISI reaffirmed a “buy” rating and set a $103.00 target price on shares of Morgan Stanley in a report on Friday, July 2nd. Zacks Investment Research lowered shares of 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. Finally, BMO Capital Markets upped their target price on shares of Morgan Stanley from $97.00 to $103.00 and gave the stock an “outperform” rating in a report on Friday, July 16th. Eight analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $95.74.
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.
Recommended Story: Price Target
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.