Morgan Stanley (NYSE:MS) Executive Chairman James Gorman has sold a total of 100,000 shares of the company's common stock, according to a recent SEC filing. The transactions, completed on April 18, 2024, amounted to a total sale value of $9.02 million. The shares were sold at a weighted average price of $90.2053, with individual sales prices ranging from $90.00 to $90.48.
James Gorman, who serves as both a director and an officer of Morgan Stanley, executed these sales as part of his portfolio management strategy. Following the sale, Gorman still holds a substantial number of shares in the company, with direct ownership of 414,870.286 shares. Additionally, he has indirect ownership through a 401(k) plan and a Grantor Retained Annuity Trust, holding 1,992.457 and 350,000 shares, respectively.
The transaction details, including the price range and total value, were disclosed as per regulatory requirements. The SEC Form 4 filing also notes that further information regarding the breakdown of shares sold at each price within the range can be provided upon request.
Investors often monitor insider transactions as they provide insights into executives' perspectives on the company's stock value. While such sales are routine and can reflect a variety of personal financial strategies, they are closely watched for the signals they may send about a company's health and future prospects.
Morgan Stanley, a leading global financial services firm, has not made any official statements regarding the transaction. James Gorman's position as Executive Chairman involves significant responsibilities, including guiding the strategic direction of the firm, which remains a key player in the securities brokerage and financial advisory sectors.
InvestingPro Insights
In the wake of the recent insider transactions at Morgan Stanley (NYSE:MS), investors are keenly observing the company's performance metrics and market position. According to InvestingPro data, Morgan Stanley boasts a robust market capitalization of $147.36 billion, reflecting its prominence in the capital markets industry. The company has demonstrated a solid financial performance with a revenue growth of 6.01% in Q1 2023, which is a testament to its operational efficiency and strategic initiatives. Additionally, the company's P/E ratio stands at 16.41, with an adjusted P/E ratio for the last twelve months as of Q1 2023 at 15.68, indicating a potentially favorable valuation compared to industry peers.
Notably, Morgan Stanley has been a consistent performer when it comes to shareholder returns. One of the InvestingPro Tips highlights that the firm has raised its dividend for 10 consecutive years, showcasing its commitment to delivering value to its investors. Another tip points out that analysts have revised their earnings upwards for the upcoming period, suggesting optimism about the company's earnings potential. This is further supported by the company's impressive gross profit margin of 86.5% for the last twelve months as of Q1 2023, indicating strong profitability.
The company's stock has experienced a large price uptick over the last six months, with a total return of 26.52%, reflecting investor confidence and market recognition of its growth trajectory. For those looking to delve deeper into Morgan Stanley's financials and market performance, InvestingPro offers additional insights; there are 9 more InvestingPro Tips available at https://www.investing.com/pro/MS. To gain comprehensive access to these valuable insights, readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, enriching their investment strategy with real-time data and expert analysis.
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