Morgan Stanley (MS) Trading Up 2.1%
Morgan Stanley (NYSE:MS)’s share price was up 2.1% on Tuesday . The stock traded as high as $30.37 and last traded at $30.29, with a volume of 11,110,130 shares trading hands. The stock had previously closed at $29.66.
Several equities research analysts recently issued reports on the company. Wells Fargo & Co. reissued a “neutral” rating on shares of Morgan Stanley in a research note on Tuesday, April 19th. Keefe, Bruyette & Woods dropped their price objective on Morgan Stanley from $31.00 to $30.00 and set a “market perform” rating for the company in a research note on Tuesday, April 19th. Credit Suisse Group AG reissued a “hold” rating on shares of Morgan Stanley in a research note on Monday, April 18th. Vetr lowered Morgan Stanley from a “buy” rating to a “hold” rating and set a $27.68 price objective for the company. in a research note on Tuesday, May 10th. Finally, JPMorgan Chase & Co. reissued a “buy” rating and set a $27.00 price objective (down previously from $29.00) on shares of Morgan Stanley in a research note on Monday, June 27th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $32.70.
The company has a 50 day moving average price of $27.73 and a 200 day moving average price of $26.17. The company has a market cap of $57.83 billion and a PE ratio of 13.99.
Morgan Stanley (NYSE:MS) last announced its quarterly 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. During the same period in the previous year, the business posted $0.79 EPS. The business earned $8.91 billion during the quarter, compared to the consensus estimate of $8.30 billion. The firm’s revenue was down 8.6% on a year-over-year basis. Equities analysts predict that Morgan Stanley will post $2.47 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 15th. Shareholders 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 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend was Wednesday, July 27th.
In other Morgan Stanley news, insider Eric F. Grossman sold 24,952 shares of the firm’s stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $28.21, for a total value of $703,895.92. Following the completion of the sale, the insider now owns 180,212 shares of the company’s stock, valued at $5,083,780.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Donald T. Nicolaisen sold 3,302 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $27.88, for a total transaction of $92,059.76. Following the completion of the sale, the director now directly owns 91,704 shares of the company’s stock, valued at approximately $2,556,707.52. The disclosure for this sale can be found here.
A number of hedge funds have recently made changes to their positions in MS. Westbourne Investment Advisors Inc. increased its stake in shares of 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 valued at $1,010,000 after buying an additional 2,045 shares during the last quarter. Trexquant Investment LP purchased a new stake in shares of Morgan Stanley during the fourth quarter valued at about $1,753,000. Finally, KBC Group NV raised its position in shares of 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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