State Treasurer State of Michigan Sells 68,200 Shares of Morgan Stanley (NYSE:MS)

State Treasurer State of Michigan lessened its holdings in shares of Morgan Stanley (NYSE:MS) by 18.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 306,055 shares of the financial services provider’s stock after selling 68,200 shares during the quarter. State Treasurer State of Michigan’s holdings in Morgan Stanley were worth $13,408,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Creative Planning increased its stake in Morgan Stanley by 92.4% in the 2nd quarter. Creative Planning now owns 90,568 shares of the financial services provider’s stock worth $3,968,000 after acquiring an additional 43,490 shares during the last quarter. Sumitomo Life Insurance Co. increased its stake in Morgan Stanley by 5.5% in the 2nd quarter. Sumitomo Life Insurance Co. now owns 75,308 shares of the financial services provider’s stock worth $3,299,000 after acquiring an additional 3,938 shares during the last quarter. Oak Asset Management LLC increased its stake in Morgan Stanley by 28.1% in the 2nd quarter. Oak Asset Management LLC now owns 16,969 shares of the financial services provider’s stock worth $755,000 after acquiring an additional 3,720 shares during the last quarter. Steward Partners Investment Advisory LLC increased its stake in Morgan Stanley by 37.5% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 8,372 shares of the financial services provider’s stock worth $366,000 after acquiring an additional 2,282 shares during the last quarter. Finally, Edge Capital Group LLC increased its stake in Morgan Stanley by 11.1% in the 2nd quarter. Edge Capital Group LLC now owns 5,738 shares of the financial services provider’s stock worth $251,000 after acquiring an additional 574 shares during the last quarter. 83.85% of the stock is currently owned by institutional investors.

Shares of NYSE MS traded down $1.36 during trading hours on Wednesday, hitting $39.86. 750,807 shares of the company traded hands, compared to its average volume of 9,029,962. The company has a market capitalization of $67.35 billion, a PE ratio of 8.66, a price-to-earnings-growth ratio of 1.08 and a beta of 1.32. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 2.60. The firm’s 50 day moving average is $43.90. Morgan Stanley has a 12 month low of $36.74 and a 12 month high of $50.84.

Morgan Stanley (NYSE:MS) last released its earnings results on Thursday, July 18th. The financial services provider reported $1.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.10. Morgan Stanley had a return on equity of 11.10% and a net margin of 16.06%. The firm had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $10.02 billion. During the same quarter in the previous year, the company posted $1.30 EPS. The company’s revenue for the quarter was down 3.4% compared to the same quarter last year. Sell-side analysts forecast that Morgan Stanley will post 4.78 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Wednesday, July 31st will be issued a dividend of $0.35 per share. The ex-dividend date is Tuesday, July 30th. This represents a $1.40 dividend on an annualized basis and a yield of 3.51%. This is a boost from Morgan Stanley’s previous quarterly dividend of $0.30. Morgan Stanley’s payout ratio is presently 30.37%.

A number of analysts have issued reports on MS shares. BMO Capital Markets set a $69.00 price objective on Morgan Stanley and gave the stock a “buy” rating in a research note on Friday, July 19th. Citigroup raised Morgan Stanley from a “neutral” rating to a “buy” rating and boosted their target price for the company from $48.00 to $52.00 in a research report on Friday, July 12th. Oppenheimer set a $65.00 target price on Morgan Stanley and gave the company a “buy” rating in a research report on Friday, July 19th. ValuEngine downgraded Morgan Stanley from a “hold” rating to a “sell” rating in a research report on Monday, May 13th. Finally, Royal Bank of Canada set a $60.00 target price on Morgan Stanley and gave the company a “buy” rating in a research report on Wednesday, April 24th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $56.92.

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

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