Traders Sell Shares of Morgan Stanley (MS) on Strength Following Insider Selling
Investors sold shares of Morgan Stanley (NYSE:MS) on strength during trading hours on Wednesday after an insider sold shares in the company. $139.20 million flowed into the stock on the tick-up and $167.83 million flowed out of the stock on the tick-down, for a money net flow of $28.63 million out of the stock. Of all stocks tracked, Morgan Stanley had the 0th highest net out-flow for the day. Morgan Stanley traded up $2.42 for the day and closed at $36.52Specifically, insider Keishi Hotsuki sold 246,452 shares of the company’s stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $30.27, for a total transaction of $7,460,102.04. Following the completion of the sale, the insider now directly owns 455,191 shares of the company’s stock, valued at approximately $13,778,631.57. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Daniel A. Simkowitz sold 60,119 shares of the company’s stock in a transaction on Thursday, November 10th. The stock was sold at an average price of $37.56, for a total transaction of $2,258,069.64. Following the sale, the insider now directly owns 262,784 shares of the company’s stock, valued at $9,870,167.04. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.
A number of analysts have weighed in on MS shares. Royal Bank Of Canada increased their price target on shares of Morgan Stanley from $27.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, July 21st. Zacks Investment Research raised shares of Morgan Stanley from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a report on Friday, October 21st. Citigroup Inc. increased their price target on shares of Morgan Stanley from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Monday, October 10th. Nomura reissued a “buy” rating and issued a $34.00 price target on shares of Morgan Stanley in a report on Friday, July 22nd. Finally, Sandler O’Neill downgraded shares of Morgan Stanley from a “buy” rating to a “hold” rating and set a $33.00 price target for the company. in a report on Thursday, October 6th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $32.59.
The firm has a 50-day moving average of $32.84 and a 200-day moving average of $29.33. The stock has a market cap of $71.20 billion, a price-to-earnings ratio of 15.28 and a beta of 1.87.
Morgan Stanley (NYSE:MS) last issued its earnings results on Wednesday, October 19th. The financial services provider reported $0.80 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.17. The firm earned $8.91 billion during the quarter, compared to the consensus estimate of $8.17 billion. Morgan Stanley had a return on equity of 7.57% and a net margin of 14.44%. The business’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.34 earnings per share. On average, equities research analysts forecast that Morgan Stanley will post $2.70 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Monday, October 31st will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.10%. The ex-dividend date is Thursday, October 27th. Morgan Stanley’s payout ratio is 32.00%.
Hedge funds and other institutional investors have recently modified their holdings of the company. Zurich Insurance Group Ltd FI increased its position in shares of Morgan Stanley by 23.1% in the first quarter. Zurich Insurance Group Ltd FI now owns 222,683 shares of the financial services provider’s stock valued at $5,569,000 after buying an additional 41,764 shares during the last quarter. Legal & General Group Plc increased its position in shares of Morgan Stanley by 3.9% in the first quarter. Legal & General Group Plc now owns 6,209,559 shares of the financial services provider’s stock valued at $155,316,000 after buying an additional 234,207 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of Morgan Stanley during the first quarter valued at approximately $1,021,000. Natixis increased its position in shares of Morgan Stanley by 106.4% in the first quarter. Natixis now owns 1,161,567 shares of the financial services provider’s stock valued at $29,051,000 after buying an additional 598,923 shares during the last quarter. Finally, LPL Financial LLC increased its position in Morgan Stanley by 2.4% in the first quarter. LPL Financial LLC now owns 175,292 shares of the financial services provider’s stock valued at $4,274,000 after buying an additional 4,129 shares in the last quarter. 85.33% of the stock is owned by hedge funds and other institutional investors.
About Morgan Stanley
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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