Morgan Stanley’s price target has been raised to $202.00 by Keefe, Bruyette & Woods, reflecting a positive outlook for the financial services firm. This adjustment, announced in a research note to investors on October 16, 2023, follows a series of upward revisions from various analysts who affirm the stock’s potential for growth.
Several financial institutions have recently reassessed their projections for Morgan Stanley (NYSE: MS). Barclays increased its target from $156.00 to $183.00, assigning an “overweight” rating. Similarly, Wells Fargo & Company raised its target price from $165.00 to $177.00, maintaining an “equal weight” rating. Wolfe Research upgraded the stock from a “peer perform” rating to “outperform” with a target of $198.00. Evercore ISI also revised its target from $165.00 to $175.00, while Jefferies Financial Group adjusted its target upward from $175.00 to $186.00, giving the stock a “buy” rating.
As of now, three analysts have assigned a Strong Buy rating to Morgan Stanley, while eight have given it a Buy rating, and seven have issued a Hold rating. According to MarketBeat data, the stock holds a consensus rating of “Moderate Buy” and a consensus price target of $174.77.
Recent Earnings and Dividend Announcement
Morgan Stanley recently reported its quarterly earnings on October 15, 2023, showcasing strong performance. The company achieved earnings per share of $2.80, surpassing the consensus estimate of $2.07 by $0.73. The financial services provider generated revenue of $17.98 billion, exceeding expectations of $16.42 billion. This marks an 18.5% increase in revenue compared to the same quarter last year, where they reported $1.88 earnings per share.
In addition to the earnings report, Morgan Stanley declared a quarterly dividend of $1.00 per share, distributed to investors on November 14, 2023. This annualizes to $4.00 per share, yielding 2.3%. The company’s dividend payout ratio stands at 41.03%.
Insider Trading and Institutional Investments
In corporate news, CEO Edward Pick sold 100,000 shares of Morgan Stanley stock on October 31, 2023, at an average price of $164.34, totaling $16,434,000. Following this transaction, he retains ownership of 574,986 shares, valued at approximately $94.5 million. This sale represents a 14.82% reduction in his holdings. The transaction was disclosed to the Securities and Exchange Commission.
Institutional investors continue to hold a significant stake in Morgan Stanley, with approximately 84.19% of the company’s stock owned by institutional funds. Recent adjustments include Angeles Wealth Management LLC, which increased its stake by 1.1%, and Bedel Financial Consulting Inc., which raised its position by 2.1% in the third quarter.
Morgan Stanley, headquartered in New York City, is a global financial services firm founded in 1935. The company offers a diverse range of services including investment banking, securities, wealth management, and investment management to a variety of clients, including corporations, governments, and individual investors. Under the leadership of CEO and Chairman James P. Gorman, Morgan Stanley continues to position itself as a key player in the financial sector.
