5 Companies that are Buying Back Their Stock in 2022

2. Morgan Stanley (NYSE:MS)

Stock Buyback Amount: $20,000,000,000

Number of Hedge Fund Holders: 58

Morgan Stanley (NYSE:MS) is a financials company offering banking and finance products and services. The company operates in the Americas, Europe, the Middle East, Africa, and Asia.

Matt O’Connor, an analyst at Deutsche Bank, has a Hold rating on Morgan Stanley (NYSE:MS) shares as of September 12. The analyst also placed a $92 price target on the stock.

This June, Morgan Stanley (NYSE:MS) initiated a share buyback program worth $20 billion, consisting of 14.8% of its shares. The repurchase program is multi-year and has no expiration date. It begins in the third quarter of 2022.

Out of 895 hedge funds tracked in the second quarter, 58 funds were long Morgan Stanley (NYSE:MS). Their total stake value was $2.9 billion. In comparison, 61 hedge funds were long the stock in the previous quarter, with a total stake value of $3.3 billion.

Sound Shore Management, an investment management firm, mentioned Morgan Stanley (NYSE:MS) in its second quarter 2022 investor letter. Here’s what the firm said:

“Morgan Stanley (NYSE:MS) is a long term holding, retreated despite having business models that are more resilient, over-capitalized and underappreciated by the market. In June, the Federal Reserve’s stress tests again blessed the health of the overall banking system. Morgan Stanley stood out with an 11% increase in its annual dividend, yielding 4.1% at quarter’s end.”