Aprio Wealth Management LLC Lowers Stock Holdings in Morgan Stanley (NYSE:MS)

Aprio Wealth Management LLC trimmed its stake in Morgan Stanley (NYSE:MS) by 6.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,217 shares of the financial services provider’s stock after selling 223 shares during the period. Aprio Wealth Management LLC’s holdings in Morgan Stanley were worth $275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of MS. Fairfield Bush & CO. purchased a new stake in shares of Morgan Stanley in the 1st quarter worth approximately $108,000. Baird Financial Group Inc. lifted its position in shares of Morgan Stanley by 7.8% in the 1st quarter. Baird Financial Group Inc. now owns 306,637 shares of the financial services provider’s stock worth $26,801,000 after purchasing an additional 22,095 shares during the period. Zions Bancorporation N.A. lifted its position in shares of Morgan Stanley by 61.9% in the 1st quarter. Zions Bancorporation N.A. now owns 6,957 shares of the financial services provider’s stock worth $608,000 after purchasing an additional 2,660 shares during the period. Brown Brothers Harriman & Co. lifted its position in shares of Morgan Stanley by 64.5% in the 1st quarter. Brown Brothers Harriman & Co. now owns 17,070 shares of the financial services provider’s stock worth $1,492,000 after purchasing an additional 6,696 shares during the period. Finally, Covestor Ltd lifted its position in shares of Morgan Stanley by 66.9% in the 1st quarter. Covestor Ltd now owns 626 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 251 shares during the period. Hedge funds and other institutional investors own 83.09% of the company’s stock.

Morgan Stanley Stock Performance

Shares of NYSE:MS traded down $0.33 during midday trading on Tuesday, reaching $88.38. The company’s stock had a trading volume of 2,831,498 shares, compared to its average volume of 7,337,784. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 2.68. The stock has a fifty day moving average of $87.47 and a 200 day moving average of $86.76. Morgan Stanley has a twelve month low of $74.67 and a twelve month high of $100.99. The firm has a market capitalization of $146.44 billion, a PE ratio of 15.54, a P/E/G ratio of 2.42 and a beta of 1.35.

Morgan Stanley (NYSE:MS) last issued its earnings results on Tuesday, July 18th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.04. Morgan Stanley had a net margin of 12.19% and a return on equity of 10.99%. The firm had revenue of $13.46 billion during the quarter, compared to analysts’ expectations of $13.02 billion. During the same quarter last year, the company posted $1.44 earnings per share. The firm’s revenue was up 2.3% compared to the same quarter last year. On average, equities analysts expect that Morgan Stanley will post 5.83 EPS for the current fiscal year.

Morgan Stanley Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Monday, July 31st were given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 3.85%. The ex-dividend date of this dividend was Friday, July 28th. This is a positive change from Morgan Stanley’s previous quarterly dividend of $0.78. Morgan Stanley’s dividend payout ratio (DPR) is currently 59.96%.

Morgan Stanley declared that its board has authorized a stock buyback program on Friday, June 30th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 12.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on MS shares. JPMorgan Chase & Co. lowered their price target on shares of Morgan Stanley from $97.00 to $91.00 in a research report on Friday, July 7th. Oppenheimer reduced their price objective on shares of Morgan Stanley from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Friday, August 18th. HSBC started coverage on shares of Morgan Stanley in a research note on Thursday, September 7th. They set a “buy” rating and a $99.00 price objective for the company. Atlantic Securities boosted their price objective on shares of Morgan Stanley from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 1st. Finally, Bank of America boosted their price objective on shares of Morgan Stanley from $95.00 to $100.00 in a research note on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Morgan Stanley presently has an average rating of “Moderate Buy” and a consensus price target of $96.22.

Insider Activity at Morgan Stanley

In other news, CFO Raja Akram sold 13,500 shares of Morgan Stanley stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $92.00, for a total value of $1,242,000.00. Following the sale, the chief financial officer now owns 82,984 shares in the company, valued at $7,634,528. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO James P. Gorman sold 125,000 shares of the firm’s stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $92.35, for a total value of $11,543,750.00. Following the transaction, the chief executive officer now directly owns 1,136,345 shares of the company’s stock, valued at $104,941,460.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Raja Akram sold 13,500 shares of the firm’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $92.00, for a total transaction of $1,242,000.00. Following the completion of the transaction, the chief financial officer now directly owns 82,984 shares in the company, valued at $7,634,528. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 369,100 shares of company stock worth $34,634,996. 0.24% of the stock is owned by company insiders.

Morgan Stanley Company Profile

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.