Toronto Dominion Bank decreased its position in Morgan Stanley (NYSE:MS) by 6.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,062,467 shares of the financial services provider’s stock after selling 67,367 shares during the quarter. Toronto Dominion Bank’s holdings in Morgan Stanley were worth $49,469,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. CSat Investment Advisory L.P. purchased a new position in Morgan Stanley in the second quarter valued at approximately $102,000. First Mercantile Trust Co. purchased a new position in Morgan Stanley in the second quarter valued at approximately $112,000. Landaas & Co. WI ADV purchased a new position in Morgan Stanley in the second quarter valued at approximately $119,000. Harvest Fund Management Co. Ltd grew its position in shares of Morgan Stanley by 108.8% during the third quarter. Harvest Fund Management Co. Ltd now owns 2,815 shares of the financial services provider’s stock worth $131,000 after acquiring an additional 1,467 shares during the last quarter. Finally, Kaizen Advisory LLC grew its position in shares of Morgan Stanley by 152.0% during the second quarter. Kaizen Advisory LLC now owns 3,395 shares of the financial services provider’s stock worth $161,000 after acquiring an additional 2,048 shares during the last quarter. Institutional investors own 84.01% of the company’s stock.
Shares of NYSE MS opened at $44.68 on Wednesday. The company has a debt-to-equity ratio of 2.67, a current ratio of 0.80 and a quick ratio of 0.80. Morgan Stanley has a 1-year low of $42.88 and a 1-year high of $59.38. The firm has a market cap of $75.91 billion, a P/E ratio of 12.41, a P/E/G ratio of 0.76 and a beta of 1.28.
Morgan Stanley announced that its Board of Directors has authorized a stock buyback program on Wednesday, July 18th that authorizes the company to buyback $4.70 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 5.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Wednesday, October 31st will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.69%. The ex-dividend date is Tuesday, October 30th. Morgan Stanley’s dividend payout ratio is presently 33.33%.
In related news, major shareholder Stanley Morgan sold 327 shares of the stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $23,000.00, for a total transaction of $7,521,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is owned by company insiders.
A number of brokerages have recently issued reports on MS. JPMorgan Chase & Co. restated a “buy” rating and set a $62.00 target price on shares of Morgan Stanley in a research report on Monday, September 10th. ValuEngine upgraded shares of Morgan Stanley from a “sell” rating to a “hold” rating in a research report on Thursday, July 19th. Zacks Investment Research lowered shares of Morgan Stanley from a “buy” rating to a “hold” rating in a research report on Tuesday, August 14th. Societe Generale restated a “$49.85” rating and set a $56.00 target price on shares of Morgan Stanley in a research report on Thursday, July 19th. Finally, Citigroup lowered their target price on shares of Morgan Stanley from $58.00 to $56.00 and set a “neutral” rating on the stock in a research report on Friday, July 20th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $58.82.
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About Morgan Stanley
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. The company operates Institutional Securities, Wealth Management, and Investment Management segments.
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