Morgan Stanley (NYSE:MS – Get Rating) has earned a consensus rating of “Hold” from the seventeen research firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $99.38.
A number of brokerages have recently weighed in on MS. Piper Sandler dropped their price target on Morgan Stanley from $100.00 to $90.00 and set a “neutral” rating on the stock in a research note on Friday, July 1st. Oppenheimer dropped their price target on Morgan Stanley from $97.00 to $93.00 and set an “outperform” rating on the stock in a research note on Friday, July 15th. Odeon Capital Group lowered Morgan Stanley from a “hold” rating to a “sell” rating in a research report on Tuesday, September 6th. Royal Bank of Canada dropped their target price on Morgan Stanley from $97.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Tuesday, June 28th. Finally, Credit Suisse Group upped their target price on Morgan Stanley from $95.00 to $97.00 and gave the company an “outperform” rating in a research report on Wednesday.
Morgan Stanley Stock Performance
MS stock opened at $84.77 on Friday. The company has a debt-to-equity ratio of 2.38, a current ratio of 0.80 and a quick ratio of 0.80. The business has a 50-day moving average price of $86.32 and a 200 day moving average price of $84.11. The company has a market capitalization of $145.54 billion, a P/E ratio of 11.46, a PEG ratio of 1.63 and a beta of 1.38. Morgan Stanley has a 1-year low of $72.05 and a 1-year high of $109.73.
Morgan Stanley Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 15th. Investors of record on Friday, July 29th were paid a $0.775 dividend. This is an increase from Morgan Stanley’s previous quarterly dividend of $0.70. This represents a $3.10 annualized dividend and a yield of 3.66%. The ex-dividend date of this dividend was Thursday, July 28th. Morgan Stanley’s dividend payout ratio is currently 41.89%.
Morgan Stanley announced that its Board of Directors has initiated a stock buyback plan on Monday, June 27th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 14.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its shares are undervalued.
Insider Buying and Selling at Morgan Stanley
In related news, major shareholder Stanley Morgan bought 8,598 shares of the company’s stock in a transaction on Thursday, July 28th. The stock was bought at an average cost of $8.41 per share, for a total transaction of $72,309.18. Following the acquisition, the insider now directly owns 8,598 shares in the company, valued at $72,309.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is owned by company insiders.
Hedge Funds Weigh In On Morgan Stanley
A number of hedge funds have recently modified their holdings of MS. Rockefeller Capital Management L.P. lifted its stake in Morgan Stanley by 7.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 80,043 shares of the financial services provider’s stock worth $7,856,000 after acquiring an additional 5,489 shares in the last quarter. Blair William & Co. IL raised its position in Morgan Stanley by 50.3% in the 4th quarter. Blair William & Co. IL now owns 187,774 shares of the financial services provider’s stock valued at $18,432,000 after purchasing an additional 62,866 shares in the last quarter. LPL Financial LLC raised its position in Morgan Stanley by 9.5% in the 4th quarter. LPL Financial LLC now owns 641,549 shares of the financial services provider’s stock valued at $62,974,000 after purchasing an additional 55,533 shares in the last quarter. LMR Partners LLP acquired a new stake in Morgan Stanley in the 4th quarter valued at about $1,204,000. Finally, State Street Corp raised its position in Morgan Stanley by 2.1% in the 4th quarter. State Street Corp now owns 130,520,155 shares of the financial services provider’s stock valued at $12,811,858,000 after purchasing an additional 2,714,510 shares in the last quarter. 83.36% of the stock is currently owned by hedge funds and other institutional investors.
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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