Aspen Wealth Strategies LLC Purchases Shares of 2,662 Morgan Stanley (NYSE:MS)

by · The Cerbat Gem

Aspen Wealth Strategies LLC acquired a new position in Morgan Stanley (NYSE:MS – Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,662 shares of the financial services provider’s stock, valued at approximately $277,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. FORVIS Wealth Advisors LLC grew its holdings in Morgan Stanley by 39.2% during the 1st quarter. FORVIS Wealth Advisors LLC now owns 5,118 shares of the financial services provider’s stock valued at $482,000 after buying an additional 1,442 shares in the last quarter. Ashton Thomas Private Wealth LLC increased its holdings in Morgan Stanley by 2.6% in the 1st quarter. Ashton Thomas Private Wealth LLC now owns 26,328 shares of the financial services provider’s stock valued at $2,479,000 after acquiring an additional 669 shares during the last quarter. Van ECK Associates Corp lifted its stake in Morgan Stanley by 22.7% in the 1st quarter. Van ECK Associates Corp now owns 34,454 shares of the financial services provider’s stock worth $3,244,000 after purchasing an additional 6,370 shares in the last quarter. Norden Group LLC boosted its holdings in shares of Morgan Stanley by 52.9% during the 1st quarter. Norden Group LLC now owns 8,621 shares of the financial services provider’s stock valued at $812,000 after purchasing an additional 2,981 shares during the last quarter. Finally, J.W. Cole Advisors Inc. grew its position in shares of Morgan Stanley by 4.6% during the first quarter. J.W. Cole Advisors Inc. now owns 13,602 shares of the financial services provider’s stock valued at $1,281,000 after purchasing an additional 596 shares in the last quarter. 84.19% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Stephen J. Luczo sold 60,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the director now owns 138,363 shares in the company, valued at approximately $16,488,718.71. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

MS has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted their target price on Morgan Stanley from $106.00 to $121.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Royal Bank of Canada increased their target price on Morgan Stanley from $108.00 to $122.00 and gave the company a “sector perform” rating in a research report on Thursday, October 17th. Wells Fargo & Company raised their target price on shares of Morgan Stanley from $95.00 to $107.00 and gave the company an “underweight” rating in a report on Thursday, October 17th. Evercore ISI upped their price target on shares of Morgan Stanley from $105.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, July 17th. Finally, Jefferies Financial Group increased their price objective on shares of Morgan Stanley from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $109.24.

Read Our Latest Report on MS

Morgan Stanley Stock Down 1.4 %

NYSE:MS opened at $116.23 on Friday. The company has a market cap of $188.89 billion, a price-to-earnings ratio of 17.69, a price-to-earnings-growth ratio of 1.10 and a beta of 1.36. Morgan Stanley has a twelve month low of $70.27 and a twelve month high of $121.45. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 2.96. The stock has a fifty day simple moving average of $106.72 and a 200-day simple moving average of $100.97.

Morgan Stanley Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be given a $0.925 dividend. The ex-dividend date is Thursday, October 31st. This represents a $3.70 annualized dividend and a yield of 3.18%. Morgan Stanley’s dividend payout ratio (DPR) is 56.32%.

Morgan Stanley Profile

(Free Report)

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.

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