Lorne Steinberg Wealth Management Inc. Has $7.36 Million Holdings in Morgan Stanley $MS

Lorne Steinberg Wealth Management Inc. cut its holdings in Morgan Stanley (NYSE:MS) by 0.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 52,228 shares of the financial services provider’s stock after selling 190 shares during the period. Morgan Stanley makes up approximately 1.9% of Lorne Steinberg Wealth Management Inc.’s investment portfolio, making the stock its 25th largest position. Lorne Steinberg Wealth Management Inc.’s holdings in Morgan Stanley were worth $7,357,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Meridian Wealth Management LLC increased its holdings in Morgan Stanley by 34.3% in the 1st quarter. Meridian Wealth Management LLC now owns 23,869 shares of the financial services provider’s stock valued at $2,785,000 after buying an additional 6,092 shares during the period. Headlands Technologies LLC bought a new position in Morgan Stanley in the 1st quarter valued at about $57,000. AGF Management Ltd. increased its holdings in Morgan Stanley by 55.9% in the 1st quarter. AGF Management Ltd. now owns 327,978 shares of the financial services provider’s stock valued at $38,265,000 after buying an additional 117,615 shares during the period. Tlwm increased its holdings in Morgan Stanley by 1.8% in the 1st quarter. Tlwm now owns 13,863 shares of the financial services provider’s stock valued at $1,617,000 after buying an additional 248 shares during the period. Finally, Alley Investment Management Company LLC increased its holdings in Morgan Stanley by 75.0% in the 1st quarter. Alley Investment Management Company LLC now owns 62,469 shares of the financial services provider’s stock valued at $7,288,000 after buying an additional 26,763 shares during the period. 84.19% of the stock is currently owned by institutional investors and hedge funds.

Morgan Stanley Stock Down 0.8%

NYSE:MS opened at $158.70 on Monday. The firm’s 50 day simple moving average is $153.29 and its 200 day simple moving average is $137.30. The company has a debt-to-equity ratio of 3.30, a current ratio of 0.78 and a quick ratio of 0.78. Morgan Stanley has a one year low of $94.33 and a one year high of $166.77. The company has a market cap of $253.34 billion, a PE ratio of 16.28, a P/E/G ratio of 1.73 and a beta of 1.32.

Morgan Stanley (NYSE:MS) last posted its earnings results on Wednesday, October 15th. The financial services provider reported $2.80 EPS for the quarter, topping the consensus estimate of $2.07 by $0.73. Morgan Stanley had a net margin of 13.85% and a return on equity of 16.55%. The business had revenue of $18.22 billion for the quarter, compared to the consensus estimate of $16.42 billion. During the same period last year, the company earned $1.88 EPS. The firm’s revenue was up 18.5% compared to the same quarter last year. On average, research analysts anticipate that Morgan Stanley will post 8.56 earnings per share for the current year.

Morgan Stanley announced that its board has approved a stock repurchase program on Tuesday, July 1st that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 8.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Morgan Stanley Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be given a dividend of $1.00 per share. The ex-dividend date is Friday, October 31st. This represents a $4.00 annualized dividend and a yield of 2.5%. Morgan Stanley’s dividend payout ratio (DPR) is currently 41.03%.

Wall Street Analysts Forecast Growth

MS has been the topic of several recent analyst reports. Keefe, Bruyette & Woods raised their target price on shares of Morgan Stanley from $176.00 to $184.00 and gave the company an “outperform” rating in a report on Thursday. BMO Capital Markets assumed coverage on shares of Morgan Stanley in a research note on Friday, October 3rd. They issued an “outperform” rating and a $180.00 price target on the stock. Jefferies Financial Group raised their price target on shares of Morgan Stanley from $175.00 to $186.00 and gave the company a “buy” rating in a research note on Thursday. UBS Group raised their price target on shares of Morgan Stanley from $156.00 to $165.00 and gave the company a “neutral” rating in a research note on Tuesday, October 7th. Finally, Wells Fargo & Company raised their price target on shares of Morgan Stanley from $165.00 to $177.00 and gave the company an “equal weight” rating in a research note on Thursday. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, Morgan Stanley currently has a consensus rating of “Moderate Buy” and a consensus price target of $165.54.

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