Credit Suisse Group upgraded shares of Morgan Stanley (NYSE:MS) from a neutral rating to an outperform rating in a research note released on Monday, MarketBeat reports. The firm currently has $54.00 price target on the financial services provider’s stock, up from their previous price target of $49.00.
MS has been the topic of a number of other research reports. Deutsche Bank AG reissued a buy rating on shares of Morgan Stanley in a research note on Monday, July 3rd. HSBC Holdings plc set a $54.00 target price on shares of Morgan Stanley and gave the company a hold rating in a research note on Friday, August 11th. Zacks Investment Research raised shares of Morgan Stanley from a sell rating to a hold rating in a research note on Monday, July 24th. Compass Point reissued a sell rating and issued a $38.00 target price (up previously from $34.00) on shares of Morgan Stanley in a research note on Monday, September 25th. Finally, Wells Fargo & Company began coverage on shares of Morgan Stanley in a research note on Wednesday, August 9th. They issued a market perform rating and a $48.00 target price on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $49.39.
Morgan Stanley (NYSE MS) opened at 48.59 on Monday. Morgan Stanley has a 1-year low of $31.61 and a 1-year high of $50.14. The company has a market cap of $89.24 billion, a P/E ratio of 13.92 and a beta of 1.61. The stock’s 50 day moving average price is $47.16 and its 200 day moving average price is $44.96.
Morgan Stanley (NYSE:MS) last issued its earnings results on Wednesday, July 19th. The financial services provider reported $0.87 EPS for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.11. Morgan Stanley had a net margin of 16.77% and a return on equity of 9.83%. The business had revenue of $9.50 billion for the quarter, compared to the consensus estimate of $9.05 billion. During the same quarter last year, the firm posted $0.75 EPS. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. On average, equities analysts anticipate that Morgan Stanley will post $3.48 earnings per share for the current fiscal year.
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Morgan Stanley declared that its board has approved a stock buyback plan on Wednesday, June 28th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 6.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its stock is undervalued.
In other news, Chairman James P. Gorman sold 212,366 shares of Morgan Stanley stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $47.26, for a total value of $10,036,417.16. Following the completion of the transaction, the chairman now directly owns 1,602,609 shares of the company’s stock, valued at approximately $75,739,301.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Jonathan Pruzan sold 25,767 shares of Morgan Stanley stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $46.68, for a total transaction of $1,202,803.56. Following the completion of the transaction, the chief financial officer now directly owns 196,708 shares of the company’s stock, valued at $9,182,329.44. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Davidson Investment Advisors boosted its holdings in shares of Morgan Stanley by 2.6% in the 1st quarter. Davidson Investment Advisors now owns 291,525 shares of the financial services provider’s stock valued at $12,486,000 after buying an additional 7,462 shares during the period. Westpac Banking Corp boosted its holdings in shares of Morgan Stanley by 28.5% in the 1st quarter. Westpac Banking Corp now owns 330,925 shares of the financial services provider’s stock valued at $9,425,000 after buying an additional 73,424 shares during the period. Davidson & Garrard Inc. boosted its holdings in shares of Morgan Stanley by 2.2% in the 2nd quarter. Davidson & Garrard Inc. now owns 5,525 shares of the financial services provider’s stock valued at $246,000 after buying an additional 120 shares during the period. Calamos Wealth Management LLC acquired a new position in shares of Morgan Stanley in the 2nd quarter valued at about $1,412,000. Finally, SG Americas Securities LLC boosted its holdings in shares of Morgan Stanley by 113.2% in the 1st quarter. SG Americas Securities LLC now owns 206,426 shares of the financial services provider’s stock valued at $8,843,000 after buying an additional 1,773,467 shares during the period. 85.18% of the stock is owned by institutional investors and hedge funds.
About Morgan Stanley
Morgan Stanley is a financial holding company. The Company’s segments include Institutional Securities, Wealth Management and Investment Management. The Company’s Institutional Securities business segment provides investment banking, sales and trading, and other services to corporations, governments, financial institutions and high-to-ultra high net worth clients.
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