Investors Buy Shares of Morgan Stanley (MS) on Weakness
Traders bought shares of Morgan Stanley (NYSE:MS) on weakness during trading hours on Friday. $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 equities 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 several analyst reports. Vetr upgraded Morgan Stanley from a “hold” rating to a “buy” rating and set a $27.68 target price on the stock in a research note on Wednesday, May 4th. Buckingham Research restated a “buy” rating on shares of Morgan Stanley in a research note on Tuesday, June 21st. JPMorgan Chase & Co. restated a “buy” rating and set a $27.00 price target (down previously from $29.00) on shares of Morgan Stanley in a research note on Monday, June 27th. Royal Bank Of Canada set a $27.00 price target on Morgan Stanley and gave the stock a “buy” rating in a research note on Tuesday, June 28th. Finally, Bank of America Corp. restated a “buy” rating and set a $27.00 price target (down previously from $32.00) on shares of Morgan Stanley in a research note on Wednesday, June 29th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $32.70.
The company has a market capitalization of $55.77 billion and a P/E ratio of 13.49. The stock’s 50 day moving average is $27.58 and its 200 day moving average is $26.12.
Morgan Stanley (NYSE:MS) last announced its earnings results on Wednesday, July 20th. The financial services provider reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.16. During the same quarter last year, the business posted $0.79 earnings per share. The company earned $8.91 billion during the quarter, compared to analysts’ expectations of $8.30 billion. The company’s revenue for the quarter was down 8.6% compared to the same quarter last year. On average, equities analysts anticipate that Morgan Stanley will post $2.47 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Shareholders of record on Friday, July 29th will be paid a $0.20 dividend. The ex-dividend date is Wednesday, July 27th. This represents a $0.80 annualized dividend and a dividend yield of 2.74%. This is a boost from Morgan Stanley’s previous quarterly dividend of $0.15.
In related news, insider Jeffrey S. Brodsky sold 19,955 shares of Morgan Stanley stock in a transaction that occurred on Thursday, July 21st. The stock was sold at an average price of $28.79, for a total value of $574,504.45. Following the sale, the insider now directly owns 123,710 shares in the company, valued at $3,561,610.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO James A. Rosenthal sold 91,426 shares of Morgan Stanley stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $29.06, for a total value of $2,656,839.56. Following the completion of the sale, the chief operating officer now owns 270,880 shares in the company, valued at $7,871,772.80. The disclosure for this sale can be found here.
Several hedge funds have bought and sold shares of the stock. Westbourne Investment Advisors Inc. increased 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 during the period. Pittenger & Anderson Inc. increased its stake in Morgan Stanley by 3.7% in the fourth quarter. Pittenger & Anderson Inc. now owns 34,640 shares of the financial services provider’s stock worth $1,102,000 after buying an additional 1,250 shares during the period. Trexquant Investment LP acquired a new stake in Morgan Stanley during the fourth quarter worth $1,753,000. Finally, KBC Group NV increased its stake 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.
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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