Folger Nolan Fleming Douglas Capital Management Inc. Sells 824 Shares of Morgan Stanley (NYSE:MS)

Folger Nolan Fleming Douglas Capital Management Inc. lowered its stake in shares of Morgan Stanley (NYSE:MS) by 9.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 8,193 shares of the financial services provider’s stock after selling 824 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Morgan Stanley were worth $854,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Northwest Investment Counselors LLC purchased a new position in shares of Morgan Stanley in the third quarter worth $26,000. Opal Wealth Advisors LLC purchased a new position in shares of Morgan Stanley during the second quarter valued at approximately $25,000. POM Investment Strategies LLC raised its holdings in shares of Morgan Stanley by 1,147.6% during the second quarter. POM Investment Strategies LLC now owns 262 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 241 shares in the last quarter. Bank & Trust Co bought a new stake in Morgan Stanley in the second quarter valued at $26,000. Finally, Bbjs Financial Advisors LLC bought a new position in Morgan Stanley in the 2nd quarter worth $29,000. 84.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Morgan Stanley news, Director Stephen J. Luczo sold 60,000 shares of the stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $119.17, for a total value of $7,150,200.00. Following the transaction, the director now directly owns 138,363 shares in the company, valued at $16,488,718.71. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.24% of the company’s stock.

Morgan Stanley Stock Performance

Shares of MS stock opened at $117.94 on Thursday. The firm’s 50 day moving average price is $106.40 and its 200-day moving average price is $100.86. Morgan Stanley has a one year low of $70.27 and a one year high of $121.45. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a market cap of $191.67 billion, a P/E ratio of 17.95, a P/E/G ratio of 1.10 and a beta of 1.36.

Morgan Stanley Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be paid a $0.925 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $3.70 dividend on an annualized basis and a yield of 3.14%. Morgan Stanley’s dividend payout ratio is currently 56.32%.

Wall Street Analyst Weigh In

MS has been the subject of several research reports. Evercore ISI increased their target price on Morgan Stanley from $105.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. UBS Group lifted their price target on shares of Morgan Stanley from $102.00 to $112.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. Citigroup upped their price objective on shares of Morgan Stanley from $98.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, July 17th. Oppenheimer lowered shares of Morgan Stanley from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 17th. Finally, HSBC raised Morgan Stanley from a “hold” rating to a “buy” rating and set a $118.00 price objective for the company in a research report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $109.24.

About Morgan Stanley

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.