Top 5 Stock Picks of Kenneth A. Moffet’s Hourglass Capital

4. Morgan Stanley (NYSE:MS)

Hourglass Capital Stake Value: $9,389,000
Percentage of Hourglass Capital’s 13F Portfolio: 3.14%
Number of Hedge Fund Holders: 65

Morgan Stanley (NYSE:MS) is a financial services corporation headquartered in New York City that provides brokerage, investment management, and venture capital services. Out of the hedge funds being tracked by Insider Monkey, Fisher Asset Management is a leading shareholder of Morgan Stanley (NYSE:MS), with 10.45 million shares, the value of which came in at $1.03 billion.

Morgan Stanley (NYSE:MS) was downgraded to Hold by Odeon Capital analyst Dick Bove on January 28 after Federal Reserve Chair Jerome Powell stated that the central bank would trim its balance sheet in 2022.

In the third quarter of 2021, 65 hedge funds were bullish on Morgan Stanley (NYSE:MS), down from 69 funds in the preceding quarter. Morgan Stanley (NYSE:MS) issued a quarterly dividend of $0.70 per share on January 20, the same as the previous quarter.

In its third-quarter 2021 investor letter, Artisan Partners mentioned Morgan Stanley (NYSE:MS). Here is what the fund said:

“Morgan Stanley, a leading global financial services company, came into the portfolio in late 2020 as a result of its purchase of E*TRADE. The acquisition is a great fit for Morgan Stanley’s wealth management platform and provides a considerable amount of non-interest-bearing deposit funding. James Gorman, chairman and CEO, has steadily derisked the business by adding less volatile fee streams to complement its leading positions in cyclical businesses such as advisory, equities and FICC (fixed income, currencies and commodities). We believe the company will prove its resiliency and value over the long term.”