Mackay Shields LLC Has $21.40 Million Holdings in Morgan Stanley (NYSE:MS)

Mackay Shields LLC cut its holdings in shares of Morgan Stanley (NYSE:MS) by 8.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 233,428 shares of the financial services provider’s stock after selling 22,007 shares during the quarter. Mackay Shields LLC’s holdings in Morgan Stanley were worth $21,403,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Alpha Cubed Investments LLC lifted its holdings in shares of Morgan Stanley by 2.4% during the 2nd quarter. Alpha Cubed Investments LLC now owns 5,000 shares of the financial services provider’s stock valued at $458,000 after buying an additional 115 shares during the last quarter. Harvest Fund Management Co. Ltd increased its position in Morgan Stanley by 3.9% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 3,186 shares of the financial services provider’s stock worth $247,000 after buying an additional 120 shares during the period. Clarius Group LLC increased its position in Morgan Stanley by 0.6% in the 2nd quarter. Clarius Group LLC now owns 19,877 shares of the financial services provider’s stock worth $1,823,000 after buying an additional 120 shares during the period. WASHINGTON TRUST Co increased its position in shares of Morgan Stanley by 1.1% during the second quarter. WASHINGTON TRUST Co now owns 11,038 shares of the financial services provider’s stock valued at $1,012,000 after purchasing an additional 121 shares during the period. Finally, Mizuho Markets Cayman LP increased its position in shares of Morgan Stanley by 4.3% during the second quarter. Mizuho Markets Cayman LP now owns 3,037 shares of the financial services provider’s stock valued at $278,000 after purchasing an additional 126 shares during the period. Hedge funds and other institutional investors own 84.72% of the company’s stock.

MS has been the topic of several recent analyst reports. Royal Bank of Canada boosted their price objective on Morgan Stanley from $82.00 to $97.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 7th. Oppenheimer lowered Morgan Stanley from an “outperform” rating to a “market perform” rating in a research note on Wednesday, September 29th. They noted that the move was a valuation call. Citigroup boosted their price objective on Morgan Stanley from $88.00 to $97.00 and gave the stock a “neutral” rating in a research note on Monday, July 19th. They noted that the move was a valuation call. Zacks Investment Research lowered Morgan Stanley from a “buy” rating to a “hold” rating and set a $97.00 price objective on the stock. in a research note on Wednesday, June 16th. Finally, Berenberg Bank set a $95.00 price target on Morgan Stanley and gave the company a “hold” rating in a research note on Tuesday, September 28th. They noted that the move was a valuation call. Eleven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $96.60.

Shares of Morgan Stanley stock traded up $1.82 during trading hours on Thursday, hitting $100.39. The company’s stock had a trading volume of 682,767 shares, compared to its average volume of 10,025,398. Morgan Stanley has a 12 month low of $46.55 and a 12 month high of $105.95. The stock has a 50 day moving average of $101.80 and a 200 day moving average of $92.52. The company has a market capitalization of $183.17 billion, a PE ratio of 13.37, a price-to-earnings-growth ratio of 2.20 and a beta of 1.56. The company has a debt-to-equity ratio of 2.23, a current ratio of 0.74 and a quick ratio of 0.74.

Morgan Stanley (NYSE:MS) last announced its quarterly earnings results on Wednesday, July 14th. The financial services provider reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.22. Morgan Stanley had a return on equity of 14.86% and a net margin of 23.89%. The company had revenue of $14.76 billion during the quarter, compared to the consensus estimate of $13.99 billion. During the same period in the prior year, the company earned $1.96 earnings per share. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. Equities analysts expect that Morgan Stanley will post 7.46 EPS for the current year.

Morgan Stanley declared that its Board of Directors has authorized a share buyback program on Monday, June 28th that permits the company to buyback $12.00 billion in outstanding shares. This buyback authorization permits the financial services provider to buy up to 7.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

In related news, insider Andrew M. Saperstein sold 11,465 shares of the stock in a transaction that occurred on Friday, July 16th. The stock was sold at an average price of $92.97, for a total transaction of $1,065,901.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sharon Yeshaya sold 2,500 shares of the stock in a transaction that occurred on Wednesday, July 21st. The shares were sold at an average price of $95.64, for a total value of $239,100.00. Following the transaction, the chief financial officer now directly owns 24,895 shares of the company’s stock, valued at $2,380,957.80. The disclosure for this sale can be found here. Insiders sold 25,430 shares of company stock valued at $2,370,902 over the last 90 days. Corporate insiders own 0.23% of the company’s stock.

Morgan Stanley Profile

Morgan Stanley operates as a global financial services company. The firm provides investment banking products and services to its clients and customers including corporations, governments, financial institutions, and individuals. It operates through the following segments: Institutional Securities, Wealth Management, and Investment Management.

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

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