Morgan Stanley (NYSE:MS – Get Rating) had its price target upped by Credit Suisse Group from $95.00 to $97.00 in a research note issued to investors on Wednesday, MarketBeat Ratings reports. Credit Suisse Group currently has an outperform rating on the financial services provider’s stock.
MS has been the subject of several other research reports. Royal Bank of Canada decreased their price objective on Morgan Stanley from $97.00 to $80.00 and set a sector perform rating for the company in a report on Tuesday, June 28th. Piper Sandler lowered their price objective on Morgan Stanley from $100.00 to $90.00 and set a neutral rating on the stock in a research report on Friday, July 1st. Wells Fargo & Company cut their target price on shares of Morgan Stanley from $91.00 to $83.00 and set an equal weight rating for the company in a report on Friday, July 1st. BMO Capital Markets lowered their price target on shares of Morgan Stanley from $105.00 to $99.00 in a report on Friday, July 15th. Finally, Barclays cut their price objective on shares of Morgan Stanley from $123.00 to $108.00 and set an overweight rating for the company in a report on Friday, July 15th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Morgan Stanley has an average rating of Hold and a consensus target price of $99.38.
Morgan Stanley Stock Down 1.0 %
MS stock opened at $86.36 on Wednesday. The firm has a 50 day moving average of $86.12 and a 200 day moving average of $84.10. The stock has a market capitalization of $148.27 billion, a PE ratio of 11.67, a price-to-earnings-growth ratio of 1.66 and a beta of 1.38. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 2.38. Morgan Stanley has a 52 week low of $72.05 and a 52 week high of $109.73.
Morgan Stanley Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, August 15th. Stockholders of record on Friday, July 29th were paid a $0.775 dividend. The ex-dividend date of this dividend was Thursday, July 28th. This is a positive change from Morgan Stanley’s previous quarterly dividend of $0.70. This represents a $3.10 dividend on an annualized basis and a dividend yield of 3.59%. Morgan Stanley’s payout ratio is currently 41.89%.
Morgan Stanley declared that its board has approved a stock buyback plan on Monday, June 27th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 14.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
Insider Buying and Selling at Morgan Stanley
In other Morgan Stanley news, major shareholder Stanley Morgan bought 8,598 shares of the company’s stock in a transaction dated Thursday, July 28th. The stock was acquired at an average price of $8.41 per share, with a total value of $72,309.18. Following the completion of the acquisition, the insider now directly owns 8,598 shares of the company’s stock, valued at $72,309.18. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.26% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Morgan Stanley
Large investors have recently modified their holdings of the business. AIA Group Ltd grew its holdings in shares of Morgan Stanley by 50.7% in the first quarter. AIA Group Ltd now owns 9,423 shares of the financial services provider’s stock valued at $824,000 after purchasing an additional 3,171 shares during the period. Private Trust Co. NA boosted its stake in Morgan Stanley by 15.5% during the first quarter. Private Trust Co. NA now owns 9,584 shares of the financial services provider’s stock worth $838,000 after buying an additional 1,283 shares during the period. Signaturefd LLC boosted its stake in Morgan Stanley by 1.8% during the first quarter. Signaturefd LLC now owns 23,755 shares of the financial services provider’s stock worth $2,076,000 after buying an additional 415 shares during the period. Northwest Bancshares Inc. boosted its stake in Morgan Stanley by 28.4% during the first quarter. Northwest Bancshares Inc. now owns 2,709 shares of the financial services provider’s stock worth $237,000 after buying an additional 600 shares during the period. Finally, Wealth Advisors of Iowa LLC purchased a new position in Morgan Stanley during the fourth quarter worth about $270,000. Hedge funds and other institutional investors own 83.36% of the company’s stock.
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.
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