Morgan Stanley’s (MS) Buy Rating Reaffirmed at Credit Suisse Group
Credit Suisse Group restated their buy rating on shares of Morgan Stanley (NYSE:MS) in a research report sent to investors on Tuesday, Analyst Ratings Network reports. Credit Suisse Group currently has a $98.00 price objective on the financial services provider’s stock.
A number of other analysts also recently issued reports on MS. Barclays lifted their price target on Morgan Stanley from $95.00 to $98.00 and gave the company an overweight rating in a research report on Wednesday, April 7th. DA Davidson lifted their price target on Morgan Stanley from $80.00 to $90.00 and gave the company a buy rating in a research report on Thursday, January 21st. Daiwa Capital Markets raised Morgan Stanley from a neutral rating to an outperform rating and set a $86.00 price objective on the stock in a report on Monday, March 8th. Piper Sandler raised their price objective on Morgan Stanley from $82.00 to $87.00 and gave the company a neutral rating in a report on Tuesday. Finally, UBS Group raised their price objective on Morgan Stanley from $84.00 to $92.00 and gave the company a buy rating in a report on Thursday, April 1st. Six analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $72.10.
Shares of MS opened at $77.29 on Tuesday. The company has a market cap of $144.57 billion, a PE ratio of 13.03, a price-to-earnings-growth ratio of 2.17 and a beta of 1.59. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 2.50. The stock has a 50-day moving average price of $80.67 and a 200-day moving average price of $68.21. Morgan Stanley has a 12-month low of $35.53 and a 12-month high of $86.64.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 14th. Stockholders of record on Friday, April 30th will be paid a dividend of $0.35 per share. The ex-dividend date is Thursday, April 29th. This represents a $1.40 annualized dividend and a dividend yield of 1.81%. Morgan Stanley’s dividend payout ratio (DPR) is presently 28.11%.
In other news, insider Jeffrey S. Brodsky sold 18,500 shares of the business’s stock in a transaction that occurred on Thursday, January 21st. The stock was sold at an average price of $74.57, for a total transaction of $1,379,545.00. Following the transaction, the insider now directly owns 174,603 shares of the company’s stock, valued at $13,020,145.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO James P. Gorman sold 175,000 shares of Morgan Stanley stock in a transaction that occurred on Friday, January 22nd. The shares were sold at an average price of $73.12, for a total value of $12,796,000.00. Following the sale, the chief executive officer now owns 1,249,000 shares in the company, valued at $91,326,880. The disclosure for this sale can be found here. Insiders have sold 212,380 shares of company stock worth $15,582,671 over the last three months. Insiders own 0.26% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. Atalanta Sosnoff Capital LLC boosted its holdings in Morgan Stanley by 14.3% in the first quarter. Atalanta Sosnoff Capital LLC now owns 1,504,569 shares of the financial services provider’s stock worth $116,845,000 after acquiring an additional 187,932 shares in the last quarter. Intersect Capital LLC raised its stake in shares of Morgan Stanley by 6.2% in the first quarter. Intersect Capital LLC now owns 12,121 shares of the financial services provider’s stock worth $941,000 after purchasing an additional 707 shares during the last quarter. McGuire Investment Group LLC raised its stake in shares of Morgan Stanley by 1.9% in the first quarter. McGuire Investment Group LLC now owns 87,688 shares of the financial services provider’s stock worth $6,810,000 after purchasing an additional 1,654 shares during the last quarter. Integrated Investment Consultants LLC purchased a new position in shares of Morgan Stanley in the first quarter worth $238,000. Finally, Hurlow Wealth Management Group Inc. purchased a new position in shares of Morgan Stanley in the first quarter worth $219,000. 76.79% of the stock is currently owned by institutional investors and hedge funds.
About Morgan Stanley
Morgan Stanley, a financial holding company, provides various financial products and services to corporations, governments, financial institutions, and individuals in the Americas, Europe, the Middle East, Africa, and Asia. The company operates through Institutional Securities, Wealth Management, and Investment Management segments.
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