Kore Private Wealth LLC Increases Stake in Morgan Stanley (NYSE:MS)

Kore Private Wealth LLC raised its position in Morgan Stanley (NYSE:MS) by 16.2% during the second quarter, HoldingsChannel reports. The firm owned 6,460 shares of the financial services provider’s stock after purchasing an additional 900 shares during the period. Kore Private Wealth LLC’s holdings in Morgan Stanley were worth $592,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Evercore Wealth Management LLC raised its holdings in shares of Morgan Stanley by 0.6% during the 1st quarter. Evercore Wealth Management LLC now owns 1,291,802 shares of the financial services provider’s stock worth $100,321,000 after acquiring an additional 7,187 shares during the period. Janus Henderson Group PLC raised its holdings in shares of Morgan Stanley by 12.3% during the 1st quarter. Janus Henderson Group PLC now owns 14,006,538 shares of the financial services provider’s stock worth $1,087,752,000 after acquiring an additional 1,530,364 shares during the period. Baird Financial Group Inc. raised its holdings in shares of Morgan Stanley by 10.0% during the 1st quarter. Baird Financial Group Inc. now owns 39,442 shares of the financial services provider’s stock worth $3,063,000 after acquiring an additional 3,593 shares during the period. AIA Group Ltd raised its holdings in shares of Morgan Stanley by 77.0% during the 2nd quarter. AIA Group Ltd now owns 43,231 shares of the financial services provider’s stock worth $3,863,000 after acquiring an additional 18,803 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Morgan Stanley by 3.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,330,477 shares of the financial services provider’s stock worth $855,512,000 after acquiring an additional 351,816 shares during the period. Institutional investors own 84.72% of the company’s stock.

In other Morgan Stanley news, insider Andrew M. Saperstein sold 11,465 shares of the business’s stock in a transaction that occurred on Friday, July 16th. The stock was sold at an average price of $92.97, for a total value of $1,065,901.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Sharon Yeshaya sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 21st. The shares were sold at an average price of $95.64, for a total value of $239,100.00. Following the completion of the sale, the chief financial officer now owns 24,895 shares of the company’s stock, valued at approximately $2,380,957.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,430 shares of company stock valued at $2,370,902. Corporate insiders own 0.23% of the company’s stock.

Shares of Morgan Stanley stock opened at $98.57 on Thursday. Morgan Stanley has a one year low of $46.55 and a one year high of $105.95. The company has a market cap of $179.85 billion, a PE ratio of 13.13, a P/E/G ratio of 2.20 and a beta of 1.56. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.74 and a current ratio of 0.74. The business has a 50-day simple moving average of $101.80 and a 200-day simple moving average of $92.52.

Morgan Stanley (NYSE:MS) last announced its quarterly earnings data on Wednesday, July 14th. The financial services provider reported $1.85 EPS for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.22. Morgan Stanley had a return on equity of 14.86% and a net margin of 23.89%. The business had revenue of $14.76 billion during the quarter, compared to the consensus estimate of $13.99 billion. During the same period in the previous year, the company posted $1.96 earnings per share. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, sell-side analysts predict that Morgan Stanley will post 7.46 earnings per share for the current fiscal year.

Morgan Stanley announced that its board has approved a stock buyback program on Monday, June 28th that authorizes the company to buyback $12.00 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 7.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Several analysts recently issued reports on the stock. Oppenheimer lowered shares of Morgan Stanley from an “outperform” rating to a “market perform” rating in a report on Wednesday, September 29th. They noted that the move was a valuation call. Jefferies Financial Group boosted their price objective on shares of Morgan Stanley from $108.00 to $119.00 and gave the company a “buy” rating in a report on Monday, October 4th. BMO Capital Markets boosted their price objective on shares of Morgan Stanley from $97.00 to $103.00 and gave the company an “outperform” rating in a report on Friday, July 16th. JPMorgan Chase & Co. boosted their price objective on shares of Morgan Stanley from $85.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, June 16th. Finally, Seaport Res Ptn lowered shares of Morgan Stanley from a “buy” rating to a “neutral” rating in a report on Friday, August 13th. Eleven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $96.60.

Morgan Stanley Company Profile

Morgan Stanley operates as a global financial services company. The firm provides investment banking products and services to its clients and customers including corporations, governments, financial institutions, and individuals. It operates through the following segments: Institutional Securities, Wealth Management, and Investment Management.

Featured Article: Why Invest in Dividend Kings

Want to see what other hedge funds are holding MS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Morgan Stanley (NYSE:MS).

Institutional Ownership by Quarter for Morgan Stanley (NYSE:MS)

Receive News & Ratings for Morgan Stanley Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Morgan Stanley and related companies with MarketBeat.com's FREE daily email newsletter.