Morgan Stanley (NYSE:MS) Sets New 52-Week High After Earnings Beat

Morgan Stanley (NYSE:MS)’s share price hit a new 52-week high on Friday following a stronger than expected earnings report. The stock traded as high as $136.56 and last traded at $135.46, with a volume of 18152 shares changing hands. The stock had previously closed at $135.81.

The financial services provider reported $1.88 EPS for the quarter, topping the consensus estimate of $1.57 by $0.31. The company had revenue of $15.38 billion during the quarter, compared to analyst estimates of $14.27 billion. Morgan Stanley had a return on equity of 12.58% and a net margin of 10.64%.

Morgan Stanley Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be issued a dividend of $0.925 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $3.70 annualized dividend and a dividend yield of 2.69%. Morgan Stanley’s payout ratio is 46.60%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. UBS Group increased their price target on Morgan Stanley from $102.00 to $112.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th. HSBC lowered shares of Morgan Stanley from a “buy” rating to a “hold” rating and raised their price target for the company from $128.00 to $131.00 in a report on Tuesday, November 26th. Barclays boosted their price objective on shares of Morgan Stanley from $155.00 to $156.00 and gave the stock an “overweight” rating in a report on Friday. Royal Bank of Canada raised their target price on Morgan Stanley from $108.00 to $122.00 and gave the company a “sector perform” rating in a research note on Thursday, October 17th. Finally, Bank of America boosted their price target on Morgan Stanley from $146.00 to $153.00 and gave the stock a “buy” rating in a research note on Friday. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $129.40.

Hedge Funds Weigh In On Morgan Stanley

Hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its position in shares of Morgan Stanley by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 25,240,729 shares of the financial services provider’s stock worth $2,621,140,000 after buying an additional 269,633 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in Morgan Stanley by 2.7% in the third quarter. Fisher Asset Management LLC now owns 22,404,981 shares of the financial services provider’s stock worth $2,335,495,000 after acquiring an additional 590,872 shares during the last quarter. Legal & General Group Plc lifted its holdings in Morgan Stanley by 2.0% in the second quarter. Legal & General Group Plc now owns 10,597,493 shares of the financial services provider’s stock worth $1,029,970,000 after acquiring an additional 212,551 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Morgan Stanley by 4.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,454,177 shares of the financial services provider’s stock valued at $881,263,000 after acquiring an additional 385,780 shares during the period. Finally, Franklin Resources Inc. grew its holdings in shares of Morgan Stanley by 75.2% during the third quarter. Franklin Resources Inc. now owns 7,850,848 shares of the financial services provider’s stock valued at $881,493,000 after purchasing an additional 3,369,520 shares during the last quarter. Institutional investors and hedge funds own 84.19% of the company’s stock.

Morgan Stanley Price Performance

The firm has a market capitalization of $221.97 billion, a price-to-earnings ratio of 20.97, a PEG ratio of 0.97 and a beta of 1.36. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 3.14. The business has a 50-day moving average price of $128.88 and a two-hundred day moving average price of $113.31.

Morgan Stanley Company Profile

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.