Bank of Stockton Purchases 367 Shares of Morgan Stanley (NYSE:MS)

25 Oct 2024, 12:50 by Doug Wharley · The Cerbat Gem

Bank of Stockton increased its holdings in shares of Morgan Stanley (NYSE:MS – Free Report) by 5.1% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 7,560 shares of the financial services provider’s stock after purchasing an additional 367 shares during the period. Bank of Stockton’s holdings in Morgan Stanley were worth $788,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Opal Wealth Advisors LLC bought a new position in shares of Morgan Stanley during the 2nd quarter worth approximately $25,000. POM Investment Strategies LLC boosted its position in Morgan Stanley by 1,147.6% during the second 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 during the period. Bank & Trust Co acquired a new position in shares of Morgan Stanley in the second quarter valued at $26,000. Northwest Investment Counselors LLC bought a new position in shares of Morgan Stanley in the third quarter valued at about $26,000. Finally, Bbjs Financial Advisors LLC acquired a new stake in shares of Morgan Stanley during the 2nd quarter worth about $29,000. Institutional investors and hedge funds own 84.19% of the company’s stock.

Insider Buying and Selling

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 stock was sold at an average price of $119.17, for a total value of $7,150,200.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.24% of the stock is owned by corporate insiders.

Morgan Stanley Price Performance

NYSE:MS traded down $0.54 during mid-day trading on Friday, reaching $118.63. The stock had a trading volume of 1,775,357 shares, compared to its average volume of 7,068,156. The stock has a 50-day simple moving average of $104.66 and a two-hundred day simple moving average of $99.88. The company has a debt-to-equity ratio of 2.96, a current ratio of 0.78 and a quick ratio of 0.78. Morgan Stanley has a 12 month low of $69.42 and a 12 month high of $121.45. The stock has a market capitalization of $192.79 billion, a PE ratio of 21.71, a P/E/G ratio of 1.17 and a beta of 1.36.

Morgan Stanley Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.925 per share. 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 dividend payout ratio (DPR) is currently 67.40%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. UBS Group upped their price target on shares of Morgan Stanley from $102.00 to $112.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. Oppenheimer lowered Morgan Stanley from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 17th. Royal Bank of Canada lifted their price target on Morgan Stanley from $108.00 to $122.00 and gave the stock a “sector perform” rating in a report on Thursday, October 17th. JMP Securities reiterated a “market perform” rating on shares of Morgan Stanley in a research report on Thursday, July 18th. Finally, Barclays lifted their target price on Morgan Stanley from $121.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $109.24.

Get Our Latest Stock Analysis on Morgan Stanley

About Morgan Stanley

(Free Report)