Convergence Investment Partners LLC Sells 8,370 Shares of Morgan Stanley (MS)

Convergence Investment Partners LLC lessened its stake in shares of Morgan Stanley (NYSE:MS) by 11.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 64,358 shares of the financial services provider’s stock after selling 8,370 shares during the period. Convergence Investment Partners LLC’s holdings in Morgan Stanley were worth $3,100,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in MS. Janus Henderson Group PLC increased its stake in Morgan Stanley by 5,268.0% in the second quarter. Janus Henderson Group PLC now owns 9,590,843 shares of the financial services provider’s stock worth $427,365,000 after purchasing an additional 9,412,177 shares during the period. Lazard Asset Management LLC increased its stake in Morgan Stanley by 801.0% in the second quarter. Lazard Asset Management LLC now owns 5,321,327 shares of the financial services provider’s stock worth $237,117,000 after purchasing an additional 4,730,704 shares during the period. Epoch Investment Partners Inc. increased its stake in Morgan Stanley by 92.0% in the second quarter. Epoch Investment Partners Inc. now owns 9,653,836 shares of the financial services provider’s stock worth $430,175,000 after purchasing an additional 4,625,783 shares during the period. Alliancebernstein L.P. increased its stake in Morgan Stanley by 94.3% in the second quarter. Alliancebernstein L.P. now owns 7,091,745 shares of the financial services provider’s stock worth $316,008,000 after purchasing an additional 3,442,450 shares during the period. Finally, Standard Life Investments LTD increased its stake in Morgan Stanley by 837.7% in the second quarter. Standard Life Investments LTD now owns 3,570,298 shares of the financial services provider’s stock worth $159,038,000 after purchasing an additional 3,189,560 shares during the period. Institutional investors own 85.60% of the company’s stock.

In related news, President Thomas Colm Kelleher sold 40,000 shares of the firm’s stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $50.59, for a total transaction of $2,023,600.00. Following the sale, the president now owns 692,037 shares of the company’s stock, valued at $35,010,151.83. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Alistair Darling sold 3,850 shares of the firm’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $49.29, for a total value of $189,766.50. Following the sale, the director now directly owns 14,218 shares in the company, valued at approximately $700,805.22. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 85,247 shares of company stock worth $4,284,364. 0.24% of the stock is owned by corporate insiders.

A number of analysts have weighed in on MS shares. Credit Suisse Group upgraded Morgan Stanley from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $49.00 to $54.00 in a research note on Monday, October 9th. ValuEngine lowered Morgan Stanley from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. Zacks Investment Research upgraded Morgan Stanley from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a research note on Friday, October 20th. Wells Fargo & Company started coverage on Morgan Stanley in a research note on Wednesday, August 9th. They issued a “market perform” rating and a $48.00 target price on the stock. Finally, Buckingham Research increased their target price on Morgan Stanley from $54.00 to $57.00 and gave the stock a “buy” rating in a research note on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Morgan Stanley currently has a consensus rating of “Buy” and a consensus price target of $50.39.

Shares of Morgan Stanley (NYSE:MS) traded up $0.73 during trading on Tuesday, hitting $52.68. The stock had a trading volume of 10,640,100 shares, compared to its average volume of 9,407,317. The stock has a market capitalization of $93,920.36, a price-to-earnings ratio of 14.39, a P/E/G ratio of 1.20 and a beta of 1.64. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.74 and a current ratio of 0.74. Morgan Stanley has a 1 year low of $40.06 and a 1 year high of $53.37.

Morgan Stanley (NYSE:MS) last announced its quarterly earnings results on Tuesday, October 17th. The financial services provider reported $0.93 EPS for the quarter, beating the consensus estimate of $0.81 by $0.12. The firm had revenue of $9.20 billion for the quarter, compared to analyst estimates of $9.05 billion. Morgan Stanley had a return on equity of 10.07% and a net margin of 16.76%. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.80 earnings per share. research analysts forecast that Morgan Stanley will post 3.57 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Tuesday, October 31st were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend was Monday, October 30th. Morgan Stanley’s payout ratio is currently 27.70%.

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About Morgan Stanley

Morgan Stanley is a financial holding company. The Company’s segments include Institutional Securities, Wealth Management and Investment Management. The Company’s Institutional Securities business segment provides investment banking, sales and trading, and other services to corporations, governments, financial institutions and high-to-ultra high net worth clients.

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

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