Morgan Stanley (NYSE:MS) declared a quarterly dividend on Thursday, October 15th, Zacks reports. Stockholders of record on Friday, October 30th will be paid a dividend of 0.35 per share by the financial services provider on Friday, November 13th. This represents a $1.40 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend is Thursday, October 29th.
Morgan Stanley has increased its dividend by 85.7% over the last three years and has raised its dividend annually for the last 6 consecutive years. Morgan Stanley has a payout ratio of 25.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Morgan Stanley to earn $5.08 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 27.6%.
Shares of MS opened at $51.85 on Friday. The firm has a market cap of $81.76 billion, a P/E ratio of 9.36, a P/E/G ratio of 0.98 and a beta of 1.45. The stock has a 50 day simple moving average of $49.95 and a two-hundred day simple moving average of $46.14. The company has a debt-to-equity ratio of 2.58, a current ratio of 0.75 and a quick ratio of 0.75. Morgan Stanley has a 1 year low of $27.20 and a 1 year high of $57.57.
In related news, insider Keishi Hotsuki sold 19,000 shares of the stock in a transaction on Monday, July 20th. The stock was sold at an average price of $52.00, for a total transaction of $988,000.00. Following the sale, the insider now directly owns 243,666 shares of the company’s stock, valued at $12,670,632. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.26% of the company’s stock.
MS has been the subject of several research reports. Barclays upped their target price on Morgan Stanley from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Friday, July 17th. Royal Bank of Canada set a $55.00 target price on Morgan Stanley and gave the stock a “buy” rating in a research note on Thursday. Oppenheimer reaffirmed a “buy” rating on shares of Morgan Stanley in a research note on Tuesday, September 8th. Zacks Investment Research lowered Morgan Stanley from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a research note on Wednesday, September 30th. Finally, Piper Sandler increased their price objective on Morgan Stanley from $48.00 to $51.00 and gave the company a “neutral” rating in a research note on Friday, July 17th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $55.14.
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. The company operates through Institutional Securities, Wealth Management, and Investment Management segments.
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