Credit Suisse Group Increases Morgan Stanley (MS) Price Target to $62.00

Morgan Stanley (NYSE:MS) had its price objective boosted by Credit Suisse Group from $61.00 to $62.00 in a research note published on Thursday. The firm currently has an outperform rating on the financial services provider’s stock.

MS has been the subject of several other reports. Societe Generale cut shares of Morgan Stanley from a buy rating to a hold rating in a research report on Tuesday, January 9th. Zacks Investment Research cut shares of Morgan Stanley from a buy rating to a hold rating in a research report on Tuesday, March 20th. Keefe, Bruyette & Woods restated a buy rating and issued a $62.00 price target on shares of Morgan Stanley in a research report on Thursday, April 5th. Barclays upped their price target on shares of Morgan Stanley from $52.00 to $62.00 and gave the company an equal weight rating in a research report on Tuesday, January 2nd. Finally, Vining Sparks restated a buy rating and issued a $60.00 price target on shares of Morgan Stanley in a research report on Monday, January 8th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $55.07.

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Shares of NYSE MS opened at $54.46 on Thursday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 2.75. Morgan Stanley has a 52-week low of $40.43 and a 52-week high of $59.38. The company has a market capitalization of $97,583.93, a price-to-earnings ratio of 13.32, a price-to-earnings-growth ratio of 0.92 and a beta of 1.54.

Morgan Stanley (NYSE:MS) last announced its quarterly earnings results on Wednesday, April 18th. The financial services provider reported $1.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.17. Morgan Stanley had a net margin of 15.09% and a return on equity of 11.10%. The firm had revenue of $11.08 billion during the quarter, compared to analysts’ expectations of $10.37 billion. During the same period in the prior year, the company posted $1.00 EPS. The company’s revenue was up 13.7% on a year-over-year basis. research analysts expect that Morgan Stanley will post 4.68 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Monday, April 30th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend is Friday, April 27th. Morgan Stanley’s dividend payout ratio (DPR) is presently 27.78%.

In related news, Chairman James P. Gorman sold 100,000 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $55.34, for a total transaction of $5,534,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Jonathan Pruzan sold 52,204 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $55.35, for a total transaction of $2,889,491.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 239,254 shares of company stock valued at $13,085,019. 0.19% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. ValueAct Holdings L.P. boosted its stake in Morgan Stanley by 0.4% during the fourth quarter. ValueAct Holdings L.P. now owns 17,959,620 shares of the financial services provider’s stock worth $942,341,000 after acquiring an additional 75,000 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Morgan Stanley by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 14,948,683 shares of the financial services provider’s stock valued at $782,739,000 after buying an additional 206,318 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Morgan Stanley by 14.2% in the fourth quarter. Bank of New York Mellon Corp now owns 12,643,249 shares of the financial services provider’s stock valued at $663,392,000 after buying an additional 1,569,202 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Morgan Stanley by 2.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 12,276,170 shares of the financial services provider’s stock valued at $644,130,000 after buying an additional 299,060 shares in the last quarter. Finally, LSV Asset Management lifted its stake in shares of Morgan Stanley by 2.9% in the fourth quarter. LSV Asset Management now owns 6,117,877 shares of the financial services provider’s stock valued at $321,005,000 after buying an additional 174,300 shares in the last quarter. 86.06% of the stock is currently owned by institutional investors and hedge funds.

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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. The company operates through three segments: Institutional Securities, Wealth Management, and Investment Management.

Analyst Recommendations for Morgan Stanley (NYSE:MS)

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