Everence Capital Management Inc. Buys 4,140 Shares of Morgan Stanley (NYSE:MS)

21 Oct 2024, 17:32 by Danessa Lincoln · The Markets Daily

Everence Capital Management Inc. grew its position in Morgan Stanley (NYSE:MS – Free Report) by 13.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 35,881 shares of the financial services provider’s stock after buying an additional 4,140 shares during the period. Everence Capital Management Inc.’s holdings in Morgan Stanley were worth $3,740,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Opal Wealth Advisors LLC bought a new position in Morgan Stanley in the second quarter valued at approximately $25,000. POM Investment Strategies LLC increased its holdings in Morgan Stanley by 1,147.6% during the 2nd quarter. POM Investment Strategies LLC now owns 262 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 241 shares in the last quarter. Bank & Trust Co acquired a new stake in shares of Morgan Stanley in the 2nd quarter valued at about $26,000. Bbjs Financial Advisors LLC bought a new stake in shares of Morgan Stanley in the second quarter valued at about $29,000. Finally, Lynx Investment Advisory acquired a new position in shares of Morgan Stanley during the second quarter worth about $30,000. Institutional investors own 84.19% of the company’s stock.

Insider Activity at Morgan Stanley

In other Morgan Stanley news, Director Stephen J. Luczo sold 60,000 shares of Morgan Stanley stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $119.17, for a total value of $7,150,200.00. Following the completion of the sale, the director now owns 138,363 shares in the company, valued at $16,488,718.71. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Mandell Crawley sold 3,500 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $105.25, for a total value of $368,375.00. Following the transaction, the insider now owns 43,224 shares in the company, valued at approximately $4,549,326. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephen J. Luczo sold 60,000 shares of the company’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $119.17, for a total transaction of $7,150,200.00. Following the sale, the director now directly owns 138,363 shares of the company’s stock, valued at $16,488,718.71. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by corporate insiders.

Morgan Stanley Stock Performance

MS traded down $2.56 during trading on Monday, hitting $118.50. The stock had a trading volume of 2,878,472 shares, compared to its average volume of 7,098,717. The company has a debt-to-equity ratio of 2.96, a current ratio of 0.78 and a quick ratio of 0.78. The company has a 50 day moving average price of $103.38 and a 200-day moving average price of $99.38. Morgan Stanley has a one year low of $69.42 and a one year high of $121.45. The firm has a market cap of $192.58 billion, a price-to-earnings ratio of 21.53, a P/E/G ratio of 1.17 and a beta of 1.36.

Morgan Stanley Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be given a $0.925 dividend. The ex-dividend date is Thursday, October 31st. This represents a $3.70 dividend on an annualized basis and a dividend yield of 3.12%. Morgan Stanley’s payout ratio is presently 67.40%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on MS shares. Evercore ISI upped their price target on Morgan Stanley from $105.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. The Goldman Sachs Group raised their target price on shares of Morgan Stanley from $106.00 to $121.00 and gave the company a “neutral” rating in a research report on Thursday. Hsbc Global Res raised shares of Morgan Stanley from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. Jefferies Financial Group increased their price objective on shares of Morgan Stanley from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Wells Fargo & Company lifted their target price on Morgan Stanley from $95.00 to $107.00 and gave the company an “underweight” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Morgan Stanley currently has a consensus rating of “Hold” and an average target price of $107.56.

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