Morgan Stanley (MS) to Issue Quarterly Dividend of $0.25
Morgan Stanley (NYSE:MS) declared a quarterly dividend on Wednesday, October 18th, Wall Street Journal reports. Investors of record on Tuesday, October 31st will be paid a dividend of 0.25 per share by the financial services provider on Wednesday, November 15th. This represents a $1.00 annualized dividend and a yield of 1.99%. The ex-dividend date is Monday, October 30th.
Morgan Stanley has increased its dividend payment by an average of 51.8% annually over the last three years and has raised its dividend annually for the last 3 consecutive years. Morgan Stanley has a dividend payout ratio of 29.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Morgan Stanley to earn $3.99 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 25.1%.
Shares of Morgan Stanley (NYSE:MS) traded up 2.10% on Wednesday, reaching $50.15. 12,094,289 shares of the company traded hands. The company has a market capitalization of $92.10 billion, a P/E ratio of 14.37 and a beta of 1.61. Morgan Stanley has a one year low of $31.61 and a one year high of $50.45. The firm’s 50 day moving average is $47.26 and its 200 day moving average is $45.05.
Morgan Stanley (NYSE:MS) last released its quarterly earnings data on Tuesday, October 17th. The financial services provider reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.12. The business had revenue of $9.20 billion for the quarter, compared to analyst estimates of $9.05 billion. Morgan Stanley had a return on equity of 9.83% and a net margin of 16.77%. Morgan Stanley’s revenue was up 3.2% compared to the same quarter last year. During the same period last year, the firm posted $0.80 earnings per share. Analysts expect that Morgan Stanley will post $3.49 earnings per share for the current fiscal year.
In related news, Chairman James P. Gorman sold 212,366 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $47.26, for a total transaction of $10,036,417.16. Following the completion of the sale, the chairman now owns 1,602,609 shares in the company, valued at $75,739,301.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Jonathan Pruzan sold 25,767 shares of the company’s stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $46.68, for a total value of $1,202,803.56. Following the sale, the chief financial officer now owns 196,708 shares of the company’s stock, valued at approximately $9,182,329.44. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.
Morgan Stanley announced that its board has authorized a stock repurchase plan on Wednesday, June 28th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 6.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.
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A number of equities analysts recently commented on the company. J P Morgan Chase & Co reaffirmed a “buy” rating and issued a $53.00 price objective on shares of Morgan Stanley in a research note on Monday, June 26th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Morgan Stanley in a research note on Monday, July 3rd. Buckingham Research reaffirmed a “buy” rating and issued a $54.00 price objective (up from $51.00) on shares of Morgan Stanley in a research note on Monday, July 10th. Zacks Investment Research lowered Morgan Stanley from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Finally, BMO Capital Markets lifted their price objective on Morgan Stanley from $58.00 to $61.00 and gave the stock an “outperform” rating in a research note on Thursday, July 20th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $50.07.
About Morgan Stanley
Morgan Stanley is a financial holding company. The Company’s segments include Institutional Securities, Wealth Management and Investment Management. The Company’s Institutional Securities business segment provides investment banking, sales and trading, and other services to corporations, governments, financial institutions and high-to-ultra high net worth clients.
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