Investors Sell Morgan Stanley (MS) on Strength on Insider Selling
Investors sold shares of Morgan Stanley (NYSE:MS) on strength during trading hours on Friday after an insider sold shares in the company. $43.25 million flowed into the stock on the tick-up and $69.45 million flowed out of the stock on the tick-down, for a money net flow of $26.20 million out of the stock. Of all companies tracked, Morgan Stanley had the 0th highest net out-flow for the day. Morgan Stanley traded up $0.89 for the day and closed at $50.68Specifically, insider Jeffrey S. Brodsky sold 16,397 shares of the stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $50.07, for a total transaction of $820,997.79. Following the completion of the sale, the insider now directly owns 111,776 shares in the company, valued at approximately $5,596,624.32. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman James P. Gorman sold 212,366 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $47.26, for a total value of $10,036,417.16. Following the sale, the chairman now owns 1,602,609 shares of the company’s stock, valued at $75,739,301.34. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.
A number of equities analysts have recently issued reports on MS shares. BMO Capital Markets reissued a “top pick” rating and set a $69.00 price objective on shares of Morgan Stanley in a research report on Wednesday. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Morgan Stanley in a research report on Tuesday. Buckingham Research raised their price target on shares of Morgan Stanley from $54.00 to $57.00 and gave the company a “buy” rating in a research report on Wednesday. Barclays PLC raised their price target on shares of Morgan Stanley from $48.00 to $52.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, HSBC Holdings plc set a $54.00 price target on shares of Morgan Stanley and gave the company a “hold” rating in a research report on Friday, August 11th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $50.39.
The company’s 50-day moving average price is $47.82 and its 200-day moving average price is $45.26. The stock has a market capitalization of $91.83 billion, a PE ratio of 14.07 and a beta of 1.61.
Morgan Stanley (NYSE:MS) last posted its earnings results on Tuesday, October 17th. The financial services provider reported $0.93 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.12. The company had revenue of $9.20 billion during the quarter, compared to analysts’ expectations of $9.05 billion. Morgan Stanley had a net margin of 16.76% and a return on equity of 10.11%. Morgan Stanley’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period last year, the company posted $0.80 earnings per share. Equities research analysts anticipate that Morgan Stanley will post $3.57 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Tuesday, October 31st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, October 30th. This represents a $1.00 annualized dividend and a yield of 1.97%. Morgan Stanley’s dividend payout ratio (DPR) is currently 27.70%.
Morgan Stanley declared that its board has approved a stock buyback plan on Wednesday, June 28th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 6.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.
Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in shares of Morgan Stanley by 1.0% in the 2nd quarter. BlackRock Inc. now owns 102,137,658 shares of the financial services provider’s stock worth $4,551,254,000 after acquiring an additional 969,461 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Morgan Stanley by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 93,483,287 shares of the financial services provider’s stock worth $4,165,615,000 after acquiring an additional 1,256,318 shares during the last quarter. FMR LLC lifted its holdings in shares of Morgan Stanley by 16.9% in the 1st quarter. FMR LLC now owns 46,221,986 shares of the financial services provider’s stock worth $1,980,150,000 after acquiring an additional 6,692,676 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Morgan Stanley by 3.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 20,973,434 shares of the financial services provider’s stock worth $934,569,000 after acquiring an additional 654,034 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Morgan Stanley by 7.2% in the 1st quarter. Geode Capital Management LLC now owns 14,456,307 shares of the financial services provider’s stock worth $618,456,000 after acquiring an additional 970,041 shares during the last quarter. Hedge funds and other institutional investors own 85.17% of the company’s stock.
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About Morgan Stanley
Morgan Stanley is a financial holding company. The Company’s segments include Institutional Securities, Wealth Management and Investment Management. The Company’s Institutional Securities business segment provides investment banking, sales and trading, and other services to corporations, governments, financial institutions and high-to-ultra high net worth clients.
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