QRG Capital Management Inc. Boosts Stake in Morgan Stanley $MS

QRG Capital Management Inc. lifted its stake in shares of Morgan Stanley (NYSE:MS) by 6.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 280,127 shares of the financial services provider’s stock after acquiring an additional 17,571 shares during the period. QRG Capital Management Inc.’s holdings in Morgan Stanley were worth $39,459,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in Morgan Stanley by 10.2% during the fourth quarter. Brighton Jones LLC now owns 12,782 shares of the financial services provider’s stock worth $1,607,000 after purchasing an additional 1,185 shares during the last quarter. RFG Advisory LLC raised its holdings in shares of Morgan Stanley by 184.3% during the 1st quarter. RFG Advisory LLC now owns 6,449 shares of the financial services provider’s stock valued at $752,000 after buying an additional 4,181 shares in the last quarter. Apella Capital LLC bought a new stake in Morgan Stanley in the 1st quarter worth approximately $316,000. Secure Asset Management LLC bought a new stake in Morgan Stanley in the 1st quarter worth approximately $202,000. Finally, Naples Global Advisors LLC boosted its stake in Morgan Stanley by 23.9% in the first quarter. Naples Global Advisors LLC now owns 2,148 shares of the financial services provider’s stock worth $251,000 after buying an additional 414 shares in the last quarter. Institutional investors own 84.19% of the company’s stock.

Morgan Stanley Price Performance

Shares of Morgan Stanley stock opened at $157.40 on Friday. The company’s fifty day simple moving average is $150.30 and its two-hundred day simple moving average is $134.43. Morgan Stanley has a 12-month low of $94.33 and a 12-month high of $163.98. The firm has a market cap of $251.27 billion, a PE ratio of 17.83, a price-to-earnings-growth ratio of 1.93 and a beta of 1.32. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 3.30.

Morgan Stanley (NYSE:MS) last posted its earnings results on Wednesday, July 16th. The financial services provider reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.15. Morgan Stanley had a net margin of 13.06% and a return on equity of 15.20%. The company had revenue of $16.79 billion during the quarter, compared to analyst estimates of $16.15 billion. During the same period in the prior year, the business posted $1.82 earnings per share. Morgan Stanley’s revenue for the quarter was up 11.8% on a year-over-year basis. As a group, equities analysts expect that Morgan Stanley will post 8.56 EPS for the current year.

Morgan Stanley declared that its board has initiated a share buyback program on Tuesday, July 1st that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 8.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Morgan Stanley Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Thursday, July 31st were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.5%. This is a boost from Morgan Stanley’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Thursday, July 31st. Morgan Stanley’s payout ratio is presently 45.30%.

Insider Activity at Morgan Stanley

In related news, insider Charles A. Smith sold 20,000 shares of the firm’s stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $140.30, for a total value of $2,806,000.00. Following the completion of the sale, the insider owned 119,239 shares of the company’s stock, valued at $16,729,231.70. This trade represents a 14.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael A. Pizzi sold 18,000 shares of Morgan Stanley stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $140.62, for a total transaction of $2,531,160.00. Following the completion of the sale, the insider owned 136,407 shares in the company, valued at approximately $19,181,552.34. This trade represents a 11.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 148,149 shares of company stock valued at $20,841,628 over the last 90 days. Company insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Keefe, Bruyette & Woods raised shares of Morgan Stanley from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $127.00 to $160.00 in a research note on Wednesday, July 9th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Morgan Stanley in a report on Saturday, September 27th. The Goldman Sachs Group lifted their target price on shares of Morgan Stanley from $145.00 to $164.00 and gave the stock a “neutral” rating in a research report on Friday. Wells Fargo & Company upped their price target on shares of Morgan Stanley from $145.00 to $165.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 16th. Finally, Citigroup raised their price objective on Morgan Stanley from $130.00 to $155.00 and gave the company a “neutral” rating in a research note on Friday, September 26th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, Morgan Stanley presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.15.

Morgan Stanley 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. It operates through Institutional Securities, Wealth Management, and Investment Management segments.