Allspring Global Investments Holdings LLC Sells 45,241 Shares of Morgan Stanley (NYSE:MS)

Posted by Defense World Staff on Nov 2nd, 2023

Allspring Global Investments Holdings LLC lessened its stake in shares of Morgan Stanley (NYSE:MS – Free Report) by 29.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,653 shares of the financial services provider’s stock after selling 45,241 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Morgan Stanley were worth $9,108,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in MS. Price T Rowe Associates Inc. MD boosted its position in shares of Morgan Stanley by 114.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 23,059,090 shares of the financial services provider’s stock worth $2,024,589,000 after purchasing an additional 12,321,786 shares in the last quarter. Norges Bank bought a new position in shares of Morgan Stanley during the 4th quarter worth about $956,566,000. Moneta Group Investment Advisors LLC raised its holdings in shares of Morgan Stanley by 125,756.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 10,641,190 shares of the financial services provider’s stock worth $904,714,000 after acquiring an additional 10,632,735 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of Morgan Stanley by 96,878.4% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 8,727,085 shares of the financial services provider’s stock worth $745,293,000 after acquiring an additional 8,718,086 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board acquired a new stake in shares of Morgan Stanley in the 1st quarter worth about $451,711,000. Institutional investors own 83.09% of the company’s stock.

Morgan Stanley Trading Up 0.2 %

Shares of MS stock opened at $70.95 on Thursday. The company has a 50 day moving average of $80.93 and a 200-day moving average of $84.64. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 2.68. Morgan Stanley has a 12-month low of $69.42 and a 12-month high of $100.99. The firm has a market cap of $117.56 billion, a P/E ratio of 12.72, a PEG ratio of 2.08 and a beta of 1.34.

Morgan Stanley (NYSE:MS – Get Free Report) last issued its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.07. The company had revenue of $13.27 billion during the quarter, compared to analyst estimates of $13.22 billion. Morgan Stanley had a net margin of 10.86% and a return on equity of 10.66%. Morgan Stanley’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.53 EPS. Sell-side analysts anticipate that Morgan Stanley will post 5.58 earnings per share for the current year.

Morgan Stanley Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Tuesday, October 31st will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 4.79%. The ex-dividend date is Monday, October 30th. Morgan Stanley’s dividend payout ratio (DPR) is presently 60.93%.

Insider Buying and Selling

In related news, major shareholder Stanley Morgan sold 135 shares of the firm’s stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $50,000.00, for a total value of $6,750,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.24% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of Morgan Stanley from $93.00 to $92.00 and set an “overweight” rating on the stock in a report on Thursday, October 5th. Wolfe Research upgraded shares of Morgan Stanley from an “underperform” rating to a “peer perform” rating in a report on Friday, October 20th. Atlantic Securities upped their target price on shares of Morgan Stanley from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, August 1st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $90.00 price objective on shares of Morgan Stanley in a research note on Monday, September 25th. Finally, UBS Group lowered shares of Morgan Stanley from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $110.00 to $84.00 in a research note on Tuesday, October 10th. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.42.

View Our Latest Analysis on MS

Morgan Stanley Company 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.