Traders Buy Shares of Morgan Stanley (MS) on Weakness
Investors bought shares of Morgan Stanley (NYSE:MS) on weakness during trading hours on Wednesday. $100.47 million flowed into the stock on the tick-up and $51.45 million flowed out of the stock on the tick-down, for a money net flow of $49.02 million into the stock. Of all equities tracked, Morgan Stanley had the 26th highest net in-flow for the day. Morgan Stanley traded down ($0.13) for the day and closed at $32.06
Several equities analysts have issued reports on the stock. Buckingham Research raised shares of Morgan Stanley from a “neutral” rating to a “buy” rating in a report on Thursday, August 25th. Argus boosted their price objective on shares of Morgan Stanley from $32.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday, August 17th. Vetr lowered shares of Morgan Stanley from a “sell” rating to a “strong sell” rating and set a $26.38 price objective on the stock. in a report on Monday, August 15th. TheStreet raised shares of Morgan Stanley from a “hold” rating to a “buy” rating in a report on Monday, July 25th. Finally, BMO Capital Markets set a $46.00 price objective on shares of Morgan Stanley and gave the company a “buy” rating in a report on Wednesday, July 20th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Morgan Stanley presently has a consensus rating of “Hold” and a consensus price target of $31.97.
The company has a market capitalization of $61.29 billion and a PE ratio of 14.83. The firm has a 50-day moving average of $29.47 and a 200-day moving average of $26.76.
Morgan Stanley (NYSE:MS) last posted its earnings results on Wednesday, July 20th. The financial services provider reported $0.75 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.16. The company earned $8.91 billion during the quarter, compared to analysts’ expectations of $8.30 billion. During the same period last year, the business earned $0.79 earnings per share. The company’s quarterly revenue was down 8.6% on a year-over-year basis. Analysts forecast that Morgan Stanley will post $2.49 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, August 15th. Investors of record on Friday, July 29th were given a $0.20 dividend. 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 2.50%. The ex-dividend date of this dividend was Wednesday, July 27th.
In related news, insider Keishi Hotsuki sold 246,452 shares of the stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $30.27, for a total value of $7,460,102.04. Following the transaction, the insider now directly owns 455,191 shares of the company’s stock, valued at approximately $13,778,631.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Paul C. Wirth sold 20,000 shares of the stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $30.20, for a total transaction of $604,000.00. Following the completion of the transaction, the chief financial officer now directly owns 214,280 shares in the company, valued at $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. raised its stake in Morgan Stanley (NYSE:MS) by 1.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 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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