Traders Buy Morgan Stanley (MS) on Weakness
Traders purchased shares of Morgan Stanley (NYSE:MS) on weakness during trading hours on Monday. $60.40 million flowed into the stock on the tick-up and $31.19 million flowed out of the stock on the tick-down, for a money net flow of $29.21 million into the stock. Of all stocks tracked, Morgan Stanley had the 17th highest net in-flow for the day. Morgan Stanley traded down ($0.21) for the day and closed at $29.17
MS has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods reduced their target price on Morgan Stanley from $31.00 to $30.00 and set a “market perform” rating on the stock in a report on Tuesday, April 19th. JMP Securities reaffirmed an “outperform” rating and set a $36.00 target price on shares of Morgan Stanley in a report on Tuesday, April 19th. Wells Fargo & Co. reaffirmed a “neutral” rating on shares of Morgan Stanley in a report on Tuesday, April 19th. Credit Suisse Group AG reaffirmed a “hold” rating on shares of Morgan Stanley in a report on Monday, April 18th. Finally, Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of Morgan Stanley in a report on Monday, April 18th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $32.70.
The company has a market capitalization of $57.84 billion and a P/E ratio of 13.9947. The firm has a 50 day moving average price of $27.73 and a 200 day moving average price of $26.17.
Morgan Stanley (NYSE:MS) last posted its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $0.75 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.16. During the same period last year, the company earned $0.79 EPS. The company earned $8.91 billion during the quarter, compared to analyst estimates of $8.30 billion. The business’s revenue for the quarter was down 8.6% compared to the same quarter last year. Equities analysts expect that Morgan Stanley will post $2.47 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, August 15th. Stockholders of record on Friday, July 29th were paid a $0.20 dividend. This is an increase from Morgan Stanley’s previous quarterly dividend of $0.15. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend was Wednesday, July 27th.
In other news, COO James A. Rosenthal sold 91,426 shares of the stock in a transaction on Monday, July 25th. The stock was sold at an average price of $29.06, for a total value of $2,656,839.56. Following the transaction, the chief operating officer now owns 270,880 shares of the company’s stock, valued at approximately $7,871,772.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Donald T. Nicolaisen sold 3,302 shares of the stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $27.88, for a total value of $92,059.76. Following the completion of the transaction, the director now directly owns 91,704 shares in the company, valued at approximately $2,556,707.52. The disclosure for this sale can be found here.
Several hedge funds and institutional investors recently bought and sold shares of MS. KBC Group NV increased its position in Morgan Stanley by 59.6% in the fourth quarter. KBC Group NV now owns 681,478 shares of the financial services provider’s stock worth $21,677,000 after buying an additional 254,444 shares during the period. Westbourne Investment Advisors Inc. boosted its stake in Morgan Stanley by 6.9% in the fourth quarter. Westbourne Investment Advisors Inc. now owns 31,755 shares of the financial services provider’s stock worth $1,010,000 after buying an additional 2,045 shares in the last quarter. Finally, Trexquant Investment LP purchased a new stake in Morgan Stanley during the fourth quarter worth approximately $1,753,000.
Morgan Stanley is a financial holding company. The Company is a global financial services firm that, through its subsidiaries and affiliates, advises, and originates, trades, manages and distributes capital for, governments, institutions and individuals. Its segments include Institutional Securities, Wealth Management and Investment Management.
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