OLD National Bancorp IN Sells 1,074 Shares of Morgan Stanley (NYSE:MS)

OLD National Bancorp IN lessened its holdings in shares of Morgan Stanley (NYSE:MS) by 8.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,498 shares of the financial services provider’s stock after selling 1,074 shares during the quarter. OLD National Bancorp IN’s holdings in Morgan Stanley were worth $1,117,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. University of Texas Texas AM Investment Managment Co. purchased a new position in Morgan Stanley in the 4th quarter worth approximately $25,000. Bank & Trust Co purchased a new position in Morgan Stanley in the second quarter worth $26,000. Lynx Investment Advisory purchased a new stake in Morgan Stanley during the second quarter valued at about $30,000. First United Bank & Trust bought a new stake in Morgan Stanley during the fourth quarter worth about $34,000. Finally, Union Savings Bank boosted its holdings in shares of Morgan Stanley by 62.5% in the 4th quarter. Union Savings Bank now owns 390 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Wells Fargo & Company downgraded Morgan Stanley from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $99.00 to $95.00 in a research report on Friday, August 2nd. Bank of America upped their price objective on shares of Morgan Stanley from $100.00 to $106.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Barclays lifted their target price on shares of Morgan Stanley from $116.00 to $121.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. JMP Securities restated a “market perform” rating on shares of Morgan Stanley in a research report on Thursday, July 18th. Finally, Citigroup raised their price objective on Morgan Stanley from $98.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, July 17th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Morgan Stanley presently has an average rating of “Hold” and an average target price of $101.45.

Insider Buying and Selling at Morgan Stanley

In other news, Chairman James P. Gorman sold 200,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $105.06, for a total value of $21,012,000.00. Following the transaction, the chairman now owns 150,000 shares in the company, valued at $15,759,000. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Mandell Crawley sold 6,954 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $99.61, for a total transaction of $692,687.94. Following the transaction, the insider now owns 46,274 shares in the company, valued at $4,609,353.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman James P. Gorman sold 200,000 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $105.06, for a total transaction of $21,012,000.00. Following the sale, the chairman now owns 150,000 shares of the company’s stock, valued at $15,759,000. The disclosure for this sale can be found here. In the last ninety days, insiders sold 258,954 shares of company stock worth $27,239,058. 0.24% of the stock is owned by corporate insiders.

Morgan Stanley Stock Up 0.1 %

Shares of NYSE:MS traded up $0.09 during midday trading on Friday, reaching $94.72. The company’s stock had a trading volume of 3,522,758 shares, compared to its average volume of 7,594,498. Morgan Stanley has a 12-month low of $69.42 and a 12-month high of $109.11. The firm has a market capitalization of $153.94 billion, a P/E ratio of 17.25, a PEG ratio of 1.05 and a beta of 1.38. The firm has a 50 day moving average of $99.24 and a 200-day moving average of $93.90. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 2.97.

Morgan Stanley (NYSE:MS) last released its earnings results on Tuesday, July 16th. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.17. The firm had revenue of $15.02 billion during the quarter, compared to analyst estimates of $14.32 billion. Morgan Stanley had a net margin of 10.17% and a return on equity of 11.90%. The business’s revenue was up 11.6% on a year-over-year basis. During the same period last year, the business earned $1.24 earnings per share. On average, research analysts anticipate that Morgan Stanley will post 7 earnings per share for the current year.

Morgan Stanley Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Wednesday, July 31st will be given a dividend of $0.925 per share. This represents a $3.70 annualized dividend and a yield of 3.91%. This is an increase from Morgan Stanley’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Wednesday, July 31st. Morgan Stanley’s dividend payout ratio is 67.40%.

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.