New York Life Investment Management LLC Boosts Stock Holdings in Morgan Stanley $MS

New York Life Investment Management LLC boosted its position in shares of Morgan Stanley (NYSE:MS) by 1.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 184,747 shares of the financial services provider’s stock after buying an additional 1,985 shares during the period. New York Life Investment Management LLC’s holdings in Morgan Stanley were worth $26,023,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Princeton Global Asset Management LLC increased its stake in Morgan Stanley by 645.8% during the 2nd quarter. Princeton Global Asset Management LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after buying an additional 155 shares in the last quarter. CBIZ Investment Advisory Services LLC increased its stake in Morgan Stanley by 111.0% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 211 shares of the financial services provider’s stock worth $25,000 after buying an additional 111 shares in the last quarter. MorganRosel Wealth Management LLC purchased a new stake in Morgan Stanley during the 1st quarter worth approximately $27,000. RMG Wealth Management LLC purchased a new stake in shares of Morgan Stanley in the second quarter valued at approximately $35,000. Finally, Abound Wealth Management increased its holdings in shares of Morgan Stanley by 58.5% in the second quarter. Abound Wealth Management now owns 252 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 93 shares during the last quarter. 84.19% of the stock is currently owned by hedge funds and other institutional investors.

Morgan Stanley Trading Up 1.2%

Shares of Morgan Stanley stock opened at $165.91 on Tuesday. The firm has a market capitalization of $264.84 billion, a price-to-earnings ratio of 17.02, a PEG ratio of 1.70 and a beta of 1.32. Morgan Stanley has a fifty-two week low of $94.33 and a fifty-two week high of $166.77. The company has a debt-to-equity ratio of 3.30, a quick ratio of 0.78 and a current ratio of 0.78. The stock has a 50 day moving average of $155.11 and a 200 day moving average of $139.71.

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

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

Morgan Stanley Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.4%. The ex-dividend date is Friday, October 31st. Morgan Stanley’s dividend payout ratio is presently 41.03%.

Analysts Set New Price Targets

Several equities research analysts recently commented on MS shares. Barclays increased their price target on Morgan Stanley from $156.00 to $183.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. The Goldman Sachs Group increased their price target on Morgan Stanley from $145.00 to $164.00 and gave the company a “neutral” rating in a report on Friday, October 3rd. JPMorgan Chase & Co. increased their price target on Morgan Stanley from $122.00 to $157.00 and gave the company a “neutral” rating in a report on Tuesday, October 21st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Morgan Stanley in a report on Wednesday, October 8th. Finally, Wells Fargo & Company increased their price target on Morgan Stanley from $165.00 to $177.00 and gave the company an “equal weight” rating in a report on Thursday, October 16th. Three equities research 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 company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $168.23.

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