Cresset Asset Management LLC Sells 4,576 Shares of Morgan Stanley $MS

Cresset Asset Management LLC trimmed its stake in shares of Morgan Stanley (NYSE:MS) by 11.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 37,097 shares of the financial services provider’s stock after selling 4,576 shares during the period. Cresset Asset Management LLC’s holdings in Morgan Stanley were worth $5,226,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Meadow Creek Wealth Advisors LLC lifted its holdings in Morgan Stanley by 2.5% during the 2nd quarter. Meadow Creek Wealth Advisors LLC now owns 2,799 shares of the financial services provider’s stock worth $394,000 after buying an additional 69 shares in the last quarter. Gallagher Capital Advisors LLC increased its stake in shares of Morgan Stanley by 0.7% in the 2nd quarter. Gallagher Capital Advisors LLC now owns 9,969 shares of the financial services provider’s stock valued at $1,420,000 after buying an additional 70 shares during the period. Great Diamond Partners LLC raised its position in shares of Morgan Stanley by 0.5% during the second quarter. Great Diamond Partners LLC now owns 13,361 shares of the financial services provider’s stock worth $1,882,000 after acquiring an additional 72 shares during the last quarter. McLean Asset Management Corp lifted its stake in shares of Morgan Stanley by 2.5% during the second quarter. McLean Asset Management Corp now owns 3,007 shares of the financial services provider’s stock valued at $430,000 after acquiring an additional 73 shares during the period. Finally, Bell Investment Advisors Inc grew its position in shares of Morgan Stanley by 12.1% during the 2nd quarter. Bell Investment Advisors Inc now owns 674 shares of the financial services provider’s stock worth $95,000 after buying an additional 73 shares during the period. Institutional investors and hedge funds own 84.19% of the company’s stock.

Morgan Stanley Stock Performance

Shares of Morgan Stanley stock opened at $176.64 on Monday. The stock’s fifty day simple moving average is $162.61 and its 200 day simple moving average is $149.57. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 3.27. The company has a market capitalization of $280.74 billion, a PE ratio of 18.12, a PEG ratio of 1.45 and a beta of 1.22. Morgan Stanley has a 12 month low of $94.33 and a 12 month high of $177.32.

Morgan Stanley (NYSE:MS) last announced its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.07 by $0.73. The company had revenue of $17.98 billion during the quarter, compared to the consensus estimate of $16.42 billion. Morgan Stanley had a return on equity of 16.40% and a net margin of 13.85%.The company’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.88 earnings per share. On average, research analysts predict that Morgan Stanley will post 8.56 EPS for the current year.

Morgan Stanley Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 31st were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Friday, October 31st. Morgan Stanley’s dividend payout ratio is presently 41.03%.

Insider Buying and Selling

In other Morgan Stanley news, CEO Edward Pick sold 100,000 shares of Morgan Stanley stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $164.34, for a total value of $16,434,000.00. Following the transaction, the chief executive officer owned 574,986 shares of the company’s stock, valued at approximately $94,493,199.24. The trade was a 14.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. BMO Capital Markets started coverage on shares of Morgan Stanley in a report on Friday, October 3rd. They issued an “outperform” rating and a $180.00 price objective on the stock. Zacks Research upgraded shares of Morgan Stanley from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 21st. Citigroup raised their price target on Morgan Stanley from $155.00 to $170.00 and gave the stock a “neutral” rating in a research report on Thursday, October 16th. Keefe, Bruyette & Woods lifted their price objective on Morgan Stanley from $176.00 to $184.00 and gave the stock an “outperform” rating in a research note on Thursday, October 16th. Finally, Evercore ISI upped their price objective on Morgan Stanley from $165.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. Three analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, Morgan Stanley presently has an average rating of “Moderate Buy” and an average price target of $173.38.

Morgan Stanley 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.