Morgan Stanley (NYSE:MS) issued its earnings results on Tuesday, October 17th. The financial services provider reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.12, MarketWatch Earnings reports. The company had revenue of $9.20 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.80 EPS.
Morgan Stanley (NYSE:MS) traded up 0.77% on Friday, hitting $51.16. 9,261,076 shares of the company’s stock were exchanged. The company has a market cap of $92.70 billion, a PE ratio of 14.21 and a beta of 1.61. The company’s 50-day moving average price is $48.19 and its 200-day moving average price is $45.47. Morgan Stanley has a 12-month low of $32.56 and a 12-month high of $51.52.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Tuesday, October 31st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, October 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.95%. Morgan Stanley’s dividend payout ratio is currently 27.70%.
In other Morgan Stanley news, insider Jeffrey S. Brodsky sold 16,397 shares of the business’s stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $50.07, for a total value of $820,997.79. Following the sale, the insider now directly owns 111,776 shares in the company, valued at $5,596,624.32. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink
. Also, Chairman James P. Gorman sold 212,366 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $47.26, for a total transaction of $10,036,417.16. Following the completion of the sale, the chairman now owns 1,602,609 shares in the company, valued at $75,739,301.34. The disclosure for this sale can be found here
. Over the last quarter, insiders sold 268,763 shares of company stock worth $12,881,015. 0.35% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. raised its position in Morgan Stanley by 1.0% in the second 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 in the last quarter. Vanguard Group Inc. increased its stake in 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 purchasing an additional 1,256,318 shares in the last quarter. FMR LLC increased its stake in 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 purchasing an additional 6,692,676 shares in the last quarter. Ameriprise Financial Inc. increased its stake in 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 purchasing an additional 654,034 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in 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 purchasing an additional 970,041 shares in the last quarter. Hedge funds and other institutional investors own 85.21% of the company’s stock.
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Several brokerages have commented on MS. BMO Capital Markets reiterated a “top pick” rating and issued a $69.00 price target on shares of Morgan Stanley in a research note on Wednesday, October 18th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Morgan Stanley in a research note on Tuesday, October 17th. Buckingham Research upped their target price on shares of Morgan Stanley from $54.00 to $57.00 and gave the company a “buy” rating in a research report on Wednesday, October 18th. Barclays PLC upped their target price 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, October 18th. Finally, HSBC Holdings plc set a $54.00 target price on shares of Morgan Stanley and gave the company a “hold” rating in a research report on Friday, August 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. Morgan Stanley has an average rating of “Buy” and a consensus target price of $50.39.
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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