Morgan Stanley (NYSE:MS) Shares Purchased by Exchange Traded Concepts LLC

13 Oct 2024, 12:32 by Danessa Lincoln · The Markets Daily

Exchange Traded Concepts LLC raised its position in Morgan Stanley (NYSE:MS – Free Report) by 1,147.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 105,890 shares of the financial services provider’s stock after acquiring an additional 97,401 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Morgan Stanley were worth $11,038,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP lifted its stake in shares of Morgan Stanley by 17.2% in the fourth quarter. Wellington Management Group LLP now owns 38,451,051 shares of the financial services provider’s stock worth $3,585,561,000 after acquiring an additional 5,631,435 shares in the last quarter. Capital International Investors raised its position in shares of Morgan Stanley by 16.3% in the 1st quarter. Capital International Investors now owns 28,481,070 shares of the financial services provider’s stock valued at $2,681,778,000 after purchasing an additional 3,981,528 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of Morgan Stanley by 2.5% during the 4th quarter. Fisher Asset Management LLC now owns 20,228,334 shares of the financial services provider’s stock valued at $1,886,292,000 after buying an additional 495,055 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Morgan Stanley by 2.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 12,875,677 shares of the financial services provider’s stock valued at $1,251,387,000 after buying an additional 303,654 shares during the last quarter. Finally, Legal & General Group Plc grew its position in shares of Morgan Stanley by 2.0% during the second quarter. Legal & General Group Plc now owns 10,597,493 shares of the financial services provider’s stock worth $1,029,970,000 after buying an additional 212,551 shares in the last quarter. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Insider Buying and Selling

In related news, Director Robert H. Herz sold 1,000 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $106.62, for a total transaction of $106,620.00. Following the completion of the sale, the director now directly owns 95,908 shares of the company’s stock, valued at $10,225,710.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Mandell Crawley sold 3,500 shares of Morgan Stanley stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $105.25, for a total value of $368,375.00. Following the transaction, the insider now owns 43,224 shares of the company’s stock, valued at approximately $4,549,326. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert H. Herz sold 1,000 shares of the company’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $106.62, for a total transaction of $106,620.00. Following the sale, the director now directly owns 95,908 shares of the company’s stock, valued at $10,225,710.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 252,000 shares of company stock valued at $26,546,370 over the last three months. Company insiders own 0.24% of the company’s stock.

Morgan Stanley Trading Up 2.2 %

NYSE:MS opened at $110.46 on Friday. The stock has a market cap of $179.52 billion, a price-to-earnings ratio of 18.20, a PEG ratio of 1.17 and a beta of 1.36. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.78 and a current ratio of 0.78. Morgan Stanley has a 1 year low of $69.42 and a 1 year high of $111.47. The business has a fifty day moving average of $101.02 and a 200-day moving average of $98.52.

Morgan Stanley (NYSE:MS – Get Free Report) last issued its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $1.82 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.17. The company had revenue of $15.02 billion during the quarter, compared to analyst estimates of $14.32 billion. Morgan Stanley had a net margin of 10.17% and a return on equity of 11.85%. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.24 EPS. Equities analysts predict that Morgan Stanley will post 6.95 earnings per share for the current year.

Morgan Stanley Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were issued a $0.925 dividend. This is a positive change from Morgan Stanley’s previous quarterly dividend of $0.85. The ex-dividend date was Wednesday, July 31st. This represents a $3.70 annualized dividend and a dividend yield of 3.35%. Morgan Stanley’s dividend payout ratio is 60.96%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on MS shares. The Goldman Sachs Group increased their price objective on shares of Morgan Stanley from $105.00 to $106.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. UBS Group lifted their price target on Morgan Stanley from $102.00 to $112.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. Citigroup upped their price objective on Morgan Stanley from $98.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, July 17th. Evercore ISI lifted their target price on Morgan Stanley from $105.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. Finally, HSBC raised Morgan Stanley from a “hold” rating to a “buy” rating and set a $118.00 price target on the stock in a research report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Morgan Stanley presently has an average rating of “Hold” and a consensus price target of $103.06.

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