Bollard Group LLC has raised its investment in Morgan Stanley (NYSE: MS) by 12.1% during the second quarter of 2023. According to the firm’s recent 13F filing with the Securities and Exchange Commission, Bollard Group now holds 245,883 shares of the financial services provider, after acquiring an additional 26,543 shares during this period. This stake is valued at approximately $34.64 million, making Morgan Stanley the firm’s 16th largest holding, representing about 0.8% of its overall portfolio.
A number of other institutional investors also adjusted their positions in Morgan Stanley during the same quarter. Meadow Creek Wealth Advisors LLC increased its holdings by 2.5%, bringing its total to 2,799 shares worth $394,000. Similarly, Gallagher Capital Advisors LLC raised its stake by 0.7%, now owning 9,969 shares valued at $1.42 million after purchasing 70 additional shares.
Great Diamond Partners LLC and McLean Asset Management Corp also made modest increases. Great Diamond Partners lifted its stake by 0.5% to own 13,361 shares worth $1.88 million, while McLean Asset Management grew its holdings by 2.5% to 3,007 shares valued at $430,000. Bell Investment Advisors Inc similarly increased its investment by 12.1%, holding 674 shares worth $95,000 after acquiring 73 shares.
As of now, institutional investors and hedge funds together own approximately 84.19% of Morgan Stanley’s stock.
Performance and Market Outlook
On Friday, Morgan Stanley’s shares opened at $176.64. The stock has seen a 12-month low of $94.33 and a high of $177.32. The company boasts a market capitalization of $280.74 billion, a price-to-earnings (P/E) ratio of 18.12, and a price-to-earnings-growth (PEG) ratio of 1.45. Its 50-day and 200-day moving averages are $162.61 and $149.40, respectively.
Morgan Stanley recently reported its quarterly earnings on October 15, 2023, revealing earnings per share (EPS) of $2.80 for the quarter. This figure exceeded the consensus estimate of $2.07 by $0.73. The company achieved a net margin of 13.85% and a return on equity of 16.40%. Total revenue for the quarter reached $17.98 billion, surpassing the expected $16.42 billion and up 18.5% compared to the same quarter in the previous year.
Equities analysts forecast that Morgan Stanley will report an EPS of $8.56 for the current year.
Dividend and Insider Activity
Morgan Stanley recently declared a quarterly dividend of $1.00 per share, paid on November 14, 2023. Shareholders on record as of October 31, 2023 received this dividend, which represents an annualized payout of $4.00 and a dividend yield of 2.3%. The company’s dividend payout ratio currently stands at 41.03%.
In related news, CEO Edward Pick sold 100,000 shares of the company’s stock on October 31, 2023. The shares were sold at an average price of $164.34, resulting in a total transaction value of $16.43 million. Following this sale, Pick retains 574,986 shares valued at approximately $94.49 million, indicating a reduction of 14.82% in his position. This transaction was disclosed in a document filed with the Securities and Exchange Commission.
Analyst Ratings and Future Projections
Several research analysts have recently provided updates on Morgan Stanley’s stock. Keefe, Bruyette & Woods raised their target price from $176.00 to $184.00, maintaining an “outperform” rating. Meanwhile, UBS Group increased its price target from $156.00 to $165.00 and assigned a “neutral” rating.
Additionally, Dbs Bank upgraded Morgan Stanley to a “moderate buy” in a report dated November 12, 2023. Evercore ISI lifted their target price from $165.00 to $175.00 while keeping an “outperform” rating. Currently, three analysts have rated the stock as a Strong Buy, eight as Buy, and seven as Hold, giving it an average rating of “Moderate Buy” with a target price of $173.38 according to MarketBeat.com.
As Morgan Stanley continues to navigate the financial landscape, its performance and strategic moves will be closely monitored by investors and analysts alike.
