Morgan Stanley (NYSE:MS) Sets New 52-Week High After Analyst Upgrade

Morgan Stanley (NYSE:MS) hit a new 52-week high on Wednesday after UBS Group raised their price target on the stock from $102.00 to $112.00. UBS Group currently has a neutral rating on the stock. Morgan Stanley traded as high as $109.13 and last traded at $108.95, with a volume of 1710224 shares changing hands. The stock had previously closed at $107.49.

Several other equities analysts have also issued reports on the company. Barclays raised their price target on Morgan Stanley from $116.00 to $121.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. JMP Securities reiterated a “market perform” rating on shares of Morgan Stanley in a research report on Thursday, July 18th. Royal Bank of Canada lifted their price objective on Morgan Stanley from $91.00 to $108.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 17th. BMO Capital Markets lifted their price objective on Morgan Stanley from $116.00 to $118.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Finally, The Goldman Sachs Group lifted their price objective on Morgan Stanley from $105.00 to $106.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $103.06.

Insider Buying and Selling

In other Morgan Stanley news, Chairman James P. Gorman sold 200,000 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $105.06, for a total value of $21,012,000.00. Following the transaction, the chairman now owns 150,000 shares of the company’s stock, valued at $15,759,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Chairman James P. Gorman sold 200,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $105.06, for a total value of $21,012,000.00. Following the completion of the sale, the chairman now owns 150,000 shares in the company, valued at approximately $15,759,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel A. Simkowitz sold 40,000 shares of the stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $106.54, for a total value of $4,261,600.00. Following the completion of the transaction, the insider now directly owns 442,522 shares in the company, valued at approximately $47,146,293.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 252,000 shares of company stock valued at $26,546,370 in the last ninety days. 0.24% of the stock is owned by company insiders.

Institutional Trading of Morgan Stanley

Hedge funds have recently added to or reduced their stakes in the business. Opal Wealth Advisors LLC bought a new stake in shares of Morgan Stanley in the 2nd quarter valued at about $25,000. POM Investment Strategies LLC increased its holdings in Morgan Stanley by 1,147.6% during the second quarter. POM Investment Strategies LLC now owns 262 shares of the financial services provider’s stock valued at $25,000 after buying an additional 241 shares during the period. Bank & Trust Co bought a new position in Morgan Stanley in the second quarter worth approximately $26,000. University of Texas Texas AM Investment Managment Co. purchased a new stake in Morgan Stanley during the fourth quarter worth $25,000. Finally, Bbjs Financial Advisors LLC bought a new stake in Morgan Stanley during the 2nd quarter valued at $29,000. 84.19% of the stock is owned by hedge funds and other institutional investors.

Morgan Stanley Price Performance

The firm has a market capitalization of $177.06 billion, a PE ratio of 19.80, a P/E/G ratio of 1.05 and a beta of 1.36. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.78 and a current ratio of 0.78. The stock has a fifty day moving average price of $100.49 and a 200-day moving average price of $98.19.

Morgan Stanley (NYSE:MS) last issued its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.17. The company had revenue of $15.02 billion for the quarter, compared to the consensus estimate of $14.32 billion. Morgan Stanley had a return on equity of 11.85% and a net margin of 10.17%. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.24 earnings per share. Sell-side analysts forecast that Morgan Stanley will post 7.03 EPS for the current fiscal year.

Morgan Stanley Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Wednesday, July 31st were given a dividend of $0.925 per share. This is a boost from Morgan Stanley’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $3.70 dividend on an annualized basis and a yield of 3.40%. Morgan Stanley’s dividend payout ratio is presently 67.40%.

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. It operates through Institutional Securities, Wealth Management, and Investment Management segments.