Shares of Morgan Stanley (NYSE:MS - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $142.63 and last traded at $142.26, with a volume of 2561022 shares trading hands. The stock had previously closed at $141.07.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on MS shares. JMP Securities restated a "market perform" rating on shares of Morgan Stanley in a research report on Monday, April 14th. Erste Group Bank raised shares of Morgan Stanley from a "hold" rating to a "strong-buy" rating in a research report on Saturday, May 24th. Citigroup restated a "neutral" rating and set a $130.00 price target (up previously from $125.00) on shares of Morgan Stanley in a research note on Wednesday, June 18th. Evercore ISI dropped their price target on Morgan Stanley from $150.00 to $138.00 and set an "outperform" rating on the stock in a report on Tuesday, April 1st. Finally, Bank of America reduced their price target on shares of Morgan Stanley from $150.00 to $144.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Eleven research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $133.62.
Check Out Our Latest Report on MS
Morgan Stanley Stock Performance
The business's fifty day moving average is $127.81 and its 200-day moving average is $125.71. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 3.11. The company has a market cap of $228.65 billion, a PE ratio of 16.72, a P/E/G ratio of 1.29 and a beta of 1.30.
Morgan Stanley (NYSE:MS - Get Free Report) last posted its quarterly earnings data on Friday, April 11th. The financial services provider reported $2.60 EPS for the quarter, topping the consensus estimate of $2.21 by $0.39. The firm had revenue of $17.74 billion during the quarter, compared to analyst estimates of $16.81 billion. Morgan Stanley had a return on equity of 14.98% and a net margin of 12.98%. Morgan Stanley's revenue was up 17.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.02 EPS. As a group, research analysts predict that Morgan Stanley will post 8.56 EPS for the current fiscal year.
Morgan Stanley Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th were paid a dividend of $0.925 per share. This represents a $3.70 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date was Wednesday, April 30th. Morgan Stanley's payout ratio is 43.43%.
Morgan Stanley declared that its board has authorized a stock buyback plan on Tuesday, July 1st that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 8.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.
Insider Transactions at Morgan Stanley
In other news, Director Robert H. Herz sold 800 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $119.32, for a total transaction of $95,456.00. Following the completion of the sale, the director owned 96,760 shares in the company, valued at approximately $11,545,403.20. This represents a 0.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Andrew M. Saperstein sold 40,000 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $120.00, for a total value of $4,800,000.00. Following the completion of the transaction, the insider directly owned 335,765 shares in the company, valued at $40,291,800. This represents a 10.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,868 shares of company stock valued at $6,019,548. 0.19% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Morgan Stanley
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ethic Inc. increased its stake in Morgan Stanley by 35.8% during the fourth quarter. Ethic Inc. now owns 162,269 shares of the financial services provider's stock worth $20,400,000 after acquiring an additional 42,743 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Morgan Stanley by 2.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 499,554 shares of the financial services provider's stock valued at $62,804,000 after acquiring an additional 14,283 shares in the last quarter. Pamalican Asset Management Ltd purchased a new stake in shares of Morgan Stanley during the 4th quarter worth $4,513,000. Jupiter Asset Management Ltd. acquired a new position in shares of Morgan Stanley during the 4th quarter worth about $5,686,000. Finally, Alpha DNA Investment Management LLC increased its stake in Morgan Stanley by 112.0% in the fourth quarter. Alpha DNA Investment Management LLC now owns 39,921 shares of the financial services provider's stock valued at $5,019,000 after purchasing an additional 21,090 shares during the last quarter. Hedge funds and other institutional investors own 84.19% of the company's stock.
Morgan Stanley Company Profile
(
Get Free Report)
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. It operates through Institutional Securities, Wealth Management, and Investment Management segments.
Further Reading
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