Morgan Stanley (MS) Trading 2.5% Higher
Morgan Stanley (NYSE:MS) shot up 2.5% during trading on Tuesday . The stock traded as high as $32.19 and last traded at $32.19, with a volume of 13,720,898 shares changing hands. The stock had previously closed at $31.41.
A number of equities research analysts have issued reports on MS shares. Buckingham Research raised Morgan Stanley from a “neutral” rating to a “buy” rating in a research report on Thursday, August 25th. Argus upped their target price on Morgan Stanley from $32.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, August 17th. Vetr cut Morgan Stanley from a “sell” rating to a “strong sell” rating and set a $26.38 target price for the company. in a research report on Monday, August 15th. TheStreet raised Morgan Stanley from a “hold” rating to a “buy” rating in a research report on Monday, July 25th. Finally, RBC Capital Markets set a $32.00 price target on Morgan Stanley and gave the stock a “buy” rating in a report on Thursday, July 21st. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $32.35.
The stock has a 50-day moving average price of $29.34 and a 200 day moving average price of $26.72. The company has a market cap of $61.54 billion and a PE ratio of 14.89.
Morgan Stanley (NYSE:MS) last announced its quarterly earnings data on Wednesday, July 20th. The financial services provider reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.16. The company earned $8.91 billion during the quarter, compared to analyst estimates of $8.30 billion. During the same period in the prior year, the firm earned $0.79 earnings per share. Morgan Stanley’s revenue was down 8.6% on a year-over-year basis. On average, equities analysts expect that Morgan Stanley will post $2.49 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, August 15th. Stockholders of record on Friday, July 29th were issued a dividend of $0.20 per share. The ex-dividend date was Wednesday, July 27th. This is a boost 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 2.49%.
In other Morgan Stanley news, insider Keishi Hotsuki sold 246,452 shares of the company’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $30.27, for a total value of $7,460,102.04. Following the completion of the transaction, the insider now owns 455,191 shares of the company’s stock, valued at approximately $13,778,631.57. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Paul C. Wirth sold 20,000 shares of the company’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $30.20, for a total value of $604,000.00. Following the completion of the transaction, the chief financial officer now directly owns 214,280 shares of the company’s stock, valued at approximately $6,471,256. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Morgan Stanley stock. Schwab Charles Investment Management Inc. boosted its position in Morgan Stanley (NYSE:MS) by 1.1% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 4,025,711 shares of the financial services provider’s stock after buying an additional 44,534 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.21% of Morgan Stanley worth $128,058,000 as of its most recent filing with the SEC.
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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