Bridger Management LLC Sells 97,900 Shares of Morgan Stanley (NYSE:MS)

Posted by Defense World Staff on Sep 12th, 2023

Bridger Management LLC reduced its holdings in Morgan Stanley (NYSE:MS – Free Report) by 28.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 244,314 shares of the financial services provider’s stock after selling 97,900 shares during the quarter. Morgan Stanley makes up approximately 8.0% of Bridger Management LLC’s holdings, making the stock its 5th largest holding. Bridger Management LLC’s holdings in Morgan Stanley were worth $21,451,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Chelsea Counsel Co. acquired a new position in Morgan Stanley during the 4th quarter worth $26,000. Arlington Partners LLC lifted its holdings in Morgan Stanley by 1,611.8% during the 1st quarter. Arlington Partners LLC now owns 291 shares of the financial services provider’s stock worth $26,000 after buying an additional 274 shares in the last quarter. Horizon Bancorp Inc. IN acquired a new position in Morgan Stanley during the 1st quarter worth $26,000. Elequin Securities LLC acquired a new position in Morgan Stanley during the 4th quarter worth $29,000. Finally, Sittner & Nelson LLC lifted its holdings in Morgan Stanley by 208.3% during the 1st quarter. Sittner & Nelson LLC now owns 333 shares of the financial services provider’s stock worth $29,000 after buying an additional 225 shares in the last quarter. 83.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on MS shares. Oppenheimer reduced their price objective on Morgan Stanley from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Friday, August 18th. HSBC began coverage on shares of Morgan Stanley in a research report on Thursday, September 7th. They set a “buy” rating and a $99.00 target price for the company. StockNews.com began coverage on shares of Morgan Stanley in a research report on Thursday, August 17th. They set a “hold” rating for the company. JPMorgan Chase & Co. dropped their target price on shares of Morgan Stanley from $97.00 to $91.00 in a research report on Friday, July 7th. Finally, Odeon Capital Group upgraded shares of Morgan Stanley from a “hold” rating to a “buy” rating and set a $94.00 target price for the company in a research report on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Morgan Stanley has an average rating of “Moderate Buy” and an average price target of $96.22.

Check Out Our Latest Report on Morgan Stanley

Morgan Stanley Price Performance

Shares of NYSE MS opened at $83.51 on Tuesday. The firm has a market cap of $138.37 billion, a PE ratio of 14.73, a PEG ratio of 2.30 and a beta of 1.35. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 2.68. Morgan Stanley has a 1-year low of $74.67 and a 1-year high of $100.99. The company has a fifty day moving average price of $87.25 and a 200 day moving average price of $87.02.

Morgan Stanley (NYSE:MS – Get Free Report) last posted its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. Morgan Stanley had a net margin of 12.19% and a return on equity of 10.99%. The company had revenue of $13.46 billion during the quarter, compared to the consensus estimate of $13.02 billion. During the same period in the prior year, the business posted $1.44 EPS. The company’s quarterly revenue was up 2.3% on a year-over-year basis. Research analysts predict that Morgan Stanley will post 5.83 earnings per share for the current fiscal year.

Morgan Stanley Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st were paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.07%. This is an increase from Morgan Stanley’s previous quarterly dividend of $0.78. The ex-dividend date was Friday, July 28th. Morgan Stanley’s dividend payout ratio is currently 59.96%.

Morgan Stanley announced that its Board of Directors has initiated a stock buyback plan on Friday, June 30th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 12.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Insider Transactions at Morgan Stanley

In other news, insider Charles Aubrey Smith III sold 5,600 shares of the stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $92.41, for a total transaction of $517,496.00. Following the completion of the transaction, the insider now directly owns 136,513 shares in the company, valued at approximately $12,615,166.33. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Charles Aubrey Smith III sold 5,600 shares of the firm’s stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $92.41, for a total value of $517,496.00. Following the completion of the sale, the insider now directly owns 136,513 shares in the company, valued at approximately $12,615,166.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James P. Gorman sold 125,000 shares of the firm’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $95.19, for a total transaction of $11,898,750.00. Following the completion of the sale, the chief executive officer now owns 1,011,345 shares of the company’s stock, valued at $96,269,930.55. The disclosure for this sale can be found here. Insiders sold a total of 369,100 shares of company stock worth $34,634,996 in the last three months. Insiders own 0.26% of the company’s stock.

Morgan Stanley Profile

(Free Report)

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.