Cooper Financial Group acquires new shares in Morgan Stanley (NYSE:MS)
Cooper Financial Group has acquired a new stake in the shares of Morgan Stanley (NYSE: MS – Get a rating) in the first quarter, according to the company in its latest 13F filing with the Securities and Exchange Commission. The fund acquired 2,938 shares of the financial services provider, valued at around $257,000.
A number of other large investors have also recently increased or reduced their holdings in MS. JFS Wealth Advisors LLC increased its position in Morgan Stanley by 61.6% in the 4th quarter. JFS Wealth Advisors LLC now owns 265 shares of the financial services provider valued at $26,000 after purchasing an additional 101 shares during the period. Maryland Capital Advisors Inc. acquired a new stake in Morgan Stanley during the 4th quarter at a value of $29,000. South Dakota’s Sageworth Trust Co bought a new stake in Morgan Stanley during Q4 for $29,000. Vienna Asset Management LLC bought a new stake in Morgan Stanley during Q4, valued at $29,000. Finally, Western Pacific Wealth Management LP acquired a new stake in Morgan Stanley during the 4th quarter for a value of $29,000. Institutional investors and hedge funds hold 85.02% of the company’s shares.
Shares of MS-Stock opened at $75.45 on Thursday. Morgan Stanley has a 1-year low of $72.23 and a 1-year high of $109.73. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt ratio of 2.39. The company has a market capitalization of $131.98 billion, a price/earnings ratio of 9.60, a P/E/G ratio of 1.32 and a beta of 1.41. The stock’s fifty-day simple moving average is $80.14 and its 200-day simple moving average is $89.47.
Morgan Stanley (NYSE: MS – Get a rating) last released its quarterly results on Thursday, April 14. The financial services provider reported earnings per share of $2.06 for the quarter, beating analyst consensus estimates of $1.69 by $0.37. Morgan Stanley had a return on equity of 15.15% and a net margin of 24.21%. The company posted revenue of $14.80 billion for the quarter, versus a consensus estimate of $14.16 billion. In the same quarter a year earlier, the company posted earnings per share of $2.22. Morgan Stanley’s revenue for the quarter was down 5.8% from the same quarter last year. On average, sell-side analysts predict Morgan Stanley will post 7.25 EPS for the current year.
Morgan Stanley said its board approved a stock repurchase plan on Monday, June 27 that sees the company repurchase $20.00 billion of outstanding stock. This repurchase authorization allows the financial services provider to repurchase up to 14.8% of its shares through purchases on the open market. Stock repurchase plans are usually a sign that the company’s board believes its stock is undervalued.
The company also recently declared a quarterly dividend, which was paid on Friday, May 13. Shareholders of record on Friday, April 29 received a dividend of $0.70 per share. The ex-dividend date was Thursday, April 28. This represents a dividend of $2.80 on an annualized basis and a dividend yield of 3.71%. Morgan Stanley’s dividend payout ratio is 35.62%.
In other Morgan Stanley news, Director Stephen J. Luczo bought 25,000 shares in a trade dated Thursday, May 12. The shares were acquired at an average price of $79.30 per share, for a total transaction of $1,982,500.00. Following the completion of the acquisition, the director now owns 179,449 shares of the company, valued at approximately $14,230,305.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, accessible via this link. Insiders own 0.26% of the shares of the company.
Multiple sclerosis has been the subject of several recent analyst reports. Piper Sandler cut its target price on Morgan Stanley from $100.00 to $90.00 and set a “neutral” rating on the stock in a Friday July 1 research note. StockNews.com alleged Morgan Stanley coverage in a Thursday, March 31, research note. They have placed a “holding” rating on the stock. Credit Suisse Group lowered its price target on Morgan Stanley from $100.00 to $95.00 and set an “outperform” rating on the stock in a research note on Monday. Wells Fargo & Company lowered its price target on Morgan Stanley from $91.00 to $83.00 and set an “equal weight” rating on the stock in a Friday, July 1 research note. Finally, BMO Capital Markets raised its price target on Morgan Stanley from $110.00 to $113.00 and gave the stock an “outperform” rating in a Monday, April 18 research note. Eleven research analysts rated the stock with a hold rating and eight gave the company a buy rating. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $104.69.
About Morgan Stanley (Get a rating)
Morgan Stanley, a financial holding company, provides various financial products and services to businesses, 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.
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