Traders Buy Shares of Morgan Stanley (MS) on Weakness
Investors purchased shares of Morgan Stanley (NYSE:MS) on weakness during trading hours on Monday. $58.89 million flowed into the stock on the tick-up and $41.40 million flowed out of the stock on the tick-down, for a money net flow of $17.49 million into the stock. Of all companies tracked, Morgan Stanley had the 9th highest net in-flow for the day. Morgan Stanley traded down ($0.02) for the day and closed at $31.89
MS has been the topic of a number of recent research reports. Credit Suisse Group AG restated a “hold” rating on shares of Morgan Stanley in a research note on Sunday, May 8th. Vetr lowered shares of Morgan Stanley from a “buy” rating to a “hold” rating and set a $27.68 price objective on the stock. in a research note on Tuesday, May 10th. Deutsche Bank AG restated a “hold” rating on shares of Morgan Stanley in a research note on Saturday, June 4th. Buckingham Research restated a “buy” rating on shares of Morgan Stanley in a research note on Tuesday, June 21st. Finally, JPMorgan Chase & Co. restated a “buy” rating and issued a $27.00 price objective (down from $29.00) on shares of Morgan Stanley in a research note on Monday, June 27th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have issued a buy rating to the stock. Morgan Stanley currently has a consensus rating of “Hold” and an average price target of $31.97.
The company has a 50-day moving average of $29.71 and a 200 day moving average of $26.83. The company has a market capitalization of $60.97 billion and a PE ratio of 14.75.
Morgan Stanley (NYSE:MS) last released its earnings results on Wednesday, July 20th. The financial services provider reported $0.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.16. During the same period in the previous year, the business posted $0.79 EPS. The company had revenue of $8.91 billion for the quarter, compared to analyst estimates of $8.30 billion. The firm’s quarterly revenue was down 8.6% on a year-over-year basis. On average, equities research analysts expect that Morgan Stanley will post $2.49 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 15th. Stockholders of record on Friday, July 29th were paid a $0.20 dividend. The ex-dividend date was Wednesday, July 27th. This is a positive change from Morgan Stanley’s previous quarterly dividend of $0.15. This represents a $0.80 annualized dividend and a dividend yield of 2.51%.
In other news, CFO Paul C. Wirth sold 20,000 shares of Morgan Stanley stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $30.20, for a total value of $604,000.00. Following the transaction, the chief financial officer now owns 214,280 shares of the company’s stock, valued at approximately $6,471,256. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Donald T. Nicolaisen sold 3,302 shares of Morgan Stanley stock in a transaction that occurred on 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 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.
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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