Traders Sell Shares of Morgan Stanley (MS) on Strength (MS)
Traders sold shares of Morgan Stanley (NYSE:MS) on strength during trading hours on Tuesday. $36.83 million flowed into the stock on the tick-up and $76.85 million flowed out of the stock on the tick-down, for a money net flow of $40.02 million out of the stock. Of all stocks tracked, Morgan Stanley had the 31st highest net out-flow for the day. Morgan Stanley traded up $0.89 for the day and closed at $45.57
A number of analysts recently commented on the company. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Morgan Stanley in a research note on Tuesday, May 23rd. Deutsche Bank AG reissued a “buy” rating on shares of Morgan Stanley in a research note on Monday, July 3rd. Vetr upgraded Morgan Stanley from a “sell” rating to a “hold” rating and set a $40.50 price objective on the stock in a report on Tuesday, May 23rd. HSBC Holdings plc set a $54.00 price objective on Morgan Stanley and gave the stock a “hold” rating in a report on Friday, August 11th. Finally, Zacks Investment Research downgraded Morgan Stanley from a “buy” rating to a “hold” rating in a report on Monday, June 12th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Morgan Stanley presently has an average rating of “Buy” and an average target price of $48.57.
The firm has a market cap of $84.37 billion, a P/E ratio of 13.16 and a beta of 1.63. The stock has a 50 day moving average of $46.36 and a 200-day moving average of $44.55.
Morgan Stanley (NYSE:MS) last issued its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.11. Morgan Stanley had a return on equity of 9.83% and a net margin of 16.77%. The company had revenue of $9.50 billion during the quarter, compared to analysts’ expectations of $9.05 billion. During the same quarter in the previous year, the company posted $0.75 earnings per share. The business’s revenue was up 6.7% on a year-over-year basis. Analysts anticipate that Morgan Stanley will post $3.50 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend was Thursday, July 27th. This is a boost from Morgan Stanley’s previous quarterly dividend of $0.20. Morgan Stanley’s payout ratio is currently 28.65%.
Morgan Stanley announced that its Board of Directors has initiated a share repurchase program on Wednesday, June 28th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the financial services provider to buy up to 6.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
In other news, Chairman James P. Gorman sold 212,366 shares of Morgan Stanley stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $47.26, for a total value of $10,036,417.16. Following the completion of the sale, the chairman now directly owns 1,602,609 shares in the company, valued at $75,739,301.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Jonathan Pruzan sold 25,767 shares of Morgan Stanley stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $46.68, for a total transaction of $1,202,803.56. Following the completion of the sale, the chief financial officer now owns 196,708 shares of the company’s stock, valued at $9,182,329.44. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Sentry Investment Management LLC increased its stake in Morgan Stanley by 1.0% in the second quarter. Sentry Investment Management LLC now owns 100,415 shares of the financial services provider’s stock worth $4,474,000 after buying an additional 959 shares during the last quarter. WFG Advisors LP increased its stake in Morgan Stanley by 45.4% in the second quarter. WFG Advisors LP now owns 2,690 shares of the financial services provider’s stock worth $120,000 after buying an additional 840 shares during the last quarter. Toronto Dominion Bank increased its stake in Morgan Stanley by 27.8% in the second quarter. Toronto Dominion Bank now owns 503,991 shares of the financial services provider’s stock worth $22,455,000 after buying an additional 109,702 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Morgan Stanley during the second quarter worth $714,000. Finally, Colony Group LLC acquired a new stake in Morgan Stanley during the second quarter worth $212,000. Institutional investors own 85.47% of the company’s stock.
Morgan Stanley Company Profile
Morgan Stanley is a financial holding company. The Company’s segments include Institutional Securities, Wealth Management and Investment Management. The Company’s Institutional Securities business segment provides investment banking, sales and trading, and other services to corporations, governments, financial institutions and high-to-ultra high net worth clients.
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