Insider Selling: Morgan Stanley (MS) Chairman Sells $7,540,000.00 in Stock
Morgan Stanley (NYSE:MS) Chairman James P. Gorman sold 200,000 shares of the business’s stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $37.70, for a total value of $7,540,000.00. Following the transaction, the chairman now directly owns 1,566,192 shares of the company’s stock, valued at approximately $59,045,438.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Morgan Stanley (NYSE:MS) opened at 39.19 on Thursday. The company’s 50 day moving average price is $33.69 and its 200 day moving average price is $29.68. Morgan Stanley has a 52-week low of $21.16 and a 52-week high of $40.03. The stock has a market capitalization of $73.40 billion, a PE ratio of 15.75 and a beta of 1.87.
Morgan Stanley (NYSE:MS) last posted its quarterly earnings data on Wednesday, October 19th. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.17. Morgan Stanley had a return on equity of 7.57% and a net margin of 14.44%. The company earned $8.91 billion during the quarter, compared to analysts’ expectations of $8.17 billion. During the same quarter in the previous year, the business earned $0.34 EPS. Morgan Stanley’s revenue was up 14.7% compared to the same quarter last year. On average, equities research analysts anticipate that Morgan Stanley will post $2.70 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 15th. Investors of record on Monday, October 31st were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date was Thursday, October 27th. Morgan Stanley’s payout ratio is currently 32.00%.
A number of institutional investors have recently bought and sold shares of the stock. ValueAct Holdings L.P. acquired a new position in Morgan Stanley during the second quarter worth about $987,240,000. The Manufacturers Life Insurance Company acquired a new position in Morgan Stanley during the third quarter worth about $311,936,000. Janus Capital Management LLC boosted its position in Morgan Stanley by 94.6% in the second quarter. Janus Capital Management LLC now owns 8,133,460 shares of the financial services provider’s stock worth $211,307,000 after buying an additional 3,953,641 shares during the last quarter. SG Americas Securities LLC boosted its position in Morgan Stanley by 204.1% in the third quarter. SG Americas Securities LLC now owns 1,738,247 shares of the financial services provider’s stock worth $55,728,000 after buying an additional 3,407,976 shares during the last quarter. Finally, TIAA CREF Investment Management LLC boosted its position in Morgan Stanley by 52.8% in the third quarter. TIAA CREF Investment Management LLC now owns 8,135,202 shares of the financial services provider’s stock worth $260,815,000 after buying an additional 2,812,047 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.
Several research analysts have recently commented on MS shares. Royal Bank Of Canada boosted their price objective on Morgan Stanley from $27.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, July 21st. Zacks Investment Research raised Morgan Stanley from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a report on Friday, October 21st. Citigroup Inc. boosted their price objective on Morgan Stanley from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Monday, October 10th. Nomura reissued a “buy” rating and set a $34.00 price objective on shares of Morgan Stanley in a report on Friday, July 22nd. Finally, Sandler O’Neill lowered Morgan Stanley from a “buy” rating to a “hold” rating and set a $33.00 price objective 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 assigned a buy rating to the company’s stock. Morgan Stanley presently has a consensus rating of “Hold” and a consensus target price of $32.59.
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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