Hourglass Capital LLC Has $7.86 Million Stock Holdings in Morgan Stanley (NYSE:MS)

Hourglass Capital LLC cut its stake in shares of Morgan Stanley (NYSE:MS) by 2.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 75,372 shares of the financial services provider’s stock after selling 1,760 shares during the period. Morgan Stanley makes up about 2.2% of Hourglass Capital LLC’s holdings, making the stock its 11th biggest position. Hourglass Capital LLC’s holdings in Morgan Stanley were worth $7,857,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of MS. Blair William & Co. IL raised its position in Morgan Stanley by 1.7% during the first quarter. Blair William & Co. IL now owns 164,752 shares of the financial services provider’s stock valued at $15,513,000 after buying an additional 2,748 shares during the period. Dorsey & Whitney Trust CO LLC grew its stake in Morgan Stanley by 2.7% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 13,048 shares of the financial services provider’s stock valued at $1,229,000 after purchasing an additional 345 shares in the last quarter. Glaxis Capital Management LLC purchased a new position in Morgan Stanley in the first quarter valued at about $471,000. Tocqueville Asset Management L.P. grew its stake in Morgan Stanley by 12.6% in the first quarter. Tocqueville Asset Management L.P. now owns 14,839 shares of the financial services provider’s stock valued at $1,397,000 after purchasing an additional 1,658 shares in the last quarter. Finally, Connors Investor Services Inc. grew its stake in Morgan Stanley by 0.3% in the first quarter. Connors Investor Services Inc. now owns 235,830 shares of the financial services provider’s stock valued at $22,206,000 after purchasing an additional 608 shares in the last quarter. 84.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on the company. The Goldman Sachs Group boosted their target price on Morgan Stanley from $106.00 to $121.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Royal Bank of Canada boosted their target price on Morgan Stanley from $108.00 to $122.00 and gave the company a “sector perform” rating in a research note on Thursday, October 17th. UBS Group boosted their target price on Morgan Stanley from $102.00 to $112.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. Wells Fargo & Company boosted their target price on Morgan Stanley from $95.00 to $107.00 and gave the company an “underweight” rating in a research note on Thursday, October 17th. Finally, Evercore ISI increased their price objective on Morgan Stanley from $105.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, ten have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $109.24.

Morgan Stanley Stock Up 0.3 %

Shares of MS stock opened at $132.75 on Thursday. Morgan Stanley has a 12 month low of $76.33 and a 12 month high of $134.65. The firm has a market cap of $213.87 billion, a PE ratio of 20.21, a price-to-earnings-growth ratio of 1.23 and a beta of 1.34. The stock has a 50 day moving average of $110.49 and a 200-day moving average of $103.05. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 3.14.

Morgan Stanley (NYSE:MS) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.31. Morgan Stanley had a return on equity of 12.58% and a net margin of 10.64%. The company had revenue of $15.38 billion during the quarter, compared to analyst estimates of $14.27 billion. On average, equities analysts predict that Morgan Stanley will post 7.32 EPS for the current year.

Morgan Stanley Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.925 per share. The ex-dividend date is Thursday, October 31st. This represents a $3.70 dividend on an annualized basis and a dividend yield of 2.79%. Morgan Stanley’s dividend payout ratio (DPR) is presently 56.32%.

Insider Transactions at Morgan Stanley

In other news, Director Stephen J. Luczo sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $119.17, for a total transaction of $7,150,200.00. Following the completion of the transaction, the director now directly owns 138,363 shares in the company, valued at $16,488,718.71. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.24% of the company’s stock.

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.