Morgan Stanley (NYSE:MS) Shares Gap Up Following Dividend Announcement

Morgan Stanley (NYSE:MS)’s stock price gapped up before the market opened on Wednesday after the company announced a dividend. The stock had previously closed at $112.22, but opened at $116.88. Morgan Stanley shares last traded at $121.14, with a volume of 6,461,296 shares changing hands.

The newly announced dividend which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be issued a $0.925 dividend. This represents a $3.70 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend is Thursday, October 31st. Morgan Stanley’s dividend payout ratio is currently 67.40%.

Analyst Ratings Changes

MS has been the topic of several research reports. Oppenheimer downgraded Morgan Stanley from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 17th. The Goldman Sachs Group raised their price target on Morgan Stanley from $106.00 to $121.00 and gave the company a “neutral” rating in a report on Thursday. BMO Capital Markets increased their price target on shares of Morgan Stanley from $116.00 to $118.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Barclays lifted their price objective on shares of Morgan Stanley from $121.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Royal Bank of Canada upped their target price on shares of Morgan Stanley from $108.00 to $122.00 and gave the company a “sector perform” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $107.56.

Morgan Stanley Stock Down 0.1 %

The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 2.96. The stock has a market cap of $194.13 billion, a P/E ratio of 21.76, a PEG ratio of 1.17 and a beta of 1.36. The firm has a 50-day simple moving average of $102.86 and a two-hundred day simple moving average of $99.10.

Morgan Stanley (NYSE:MS) last released its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.17. The business had revenue of $15.02 billion for the quarter, compared to analyst estimates of $14.32 billion. Morgan Stanley had a net margin of 10.17% and a return on equity of 11.85%. Morgan Stanley’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period last year, the firm earned $1.24 earnings per share. Equities research analysts expect that Morgan Stanley will post 6.95 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Mandell Crawley sold 3,500 shares of Morgan Stanley stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $105.25, for a total value of $368,375.00. Following the completion of the sale, the insider now directly owns 43,224 shares in the company, valued at approximately $4,549,326. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.24% of the company’s stock.

Hedge Funds Weigh In On Morgan Stanley

Hedge funds have recently added to or reduced their stakes in the stock. Compagnie Lombard Odier SCmA grew its holdings in shares of Morgan Stanley by 0.3% during the 3rd quarter. Compagnie Lombard Odier SCmA now owns 33,850 shares of the financial services provider’s stock worth $3,529,000 after purchasing an additional 100 shares in the last quarter. Viewpoint Capital Management LLC grew its stake in Morgan Stanley by 0.9% during the second quarter. Viewpoint Capital Management LLC now owns 12,319 shares of the financial services provider’s stock worth $1,197,000 after buying an additional 104 shares in the last quarter. Allen Mooney & Barnes Investment Advisors LLC increased its holdings in Morgan Stanley by 4.3% in the 3rd quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 2,551 shares of the financial services provider’s stock valued at $266,000 after buying an additional 104 shares during the period. WR Wealth Planners LLC raised its position in shares of Morgan Stanley by 24.4% in the 2nd quarter. WR Wealth Planners LLC now owns 541 shares of the financial services provider’s stock valued at $53,000 after buying an additional 106 shares in the last quarter. Finally, Atomi Financial Group Inc. lifted its holdings in shares of Morgan Stanley by 0.8% during the 3rd quarter. Atomi Financial Group Inc. now owns 12,893 shares of the financial services provider’s stock worth $1,344,000 after acquiring an additional 107 shares during the period. Institutional investors own 84.19% 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.