Morgan Stanley (MS) Given New $32.00 Price Target at Citigroup Inc.
Morgan Stanley (NYSE:MS) had its target price raised by Citigroup Inc. from $30.00 to $32.00 in a research report report published on Monday. Citigroup Inc. currently has a neutral rating on the financial services provider’s stock.
Several other research analysts also recently commented on MS. Barclays PLC reiterated a hold rating on shares of Morgan Stanley in a report on Saturday, July 9th. Deutsche Bank AG reiterated a hold rating on shares of Morgan Stanley in a report on Sunday, June 26th. Vetr upgraded shares of Morgan Stanley from a sell rating to a hold rating and set a $26.38 target price on the stock in a report on Wednesday, July 13th. RBC Capital Markets set a $32.00 target price on shares of Morgan Stanley and gave the stock a buy rating in a report on Thursday, July 21st. Finally, Berenberg Bank assumed coverage on shares of Morgan Stanley in a report on Wednesday, July 13th. They issued a hold rating and a $29.00 target price on the stock. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have issued a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $32.42.
Morgan Stanley (NYSE:MS) opened at 32.63 on Monday. The firm has a 50-day moving average of $31.72 and a 200-day moving average of $28.09. Morgan Stanley has a one year low of $21.16 and a one year high of $35.74. The company has a market cap of $62.38 billion, a PE ratio of 15.09 and a beta of 2.09.
Morgan Stanley (NYSE:MS) last announced its earnings results on Wednesday, July 20th. The financial services provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.59 by $0.16. The firm had revenue of $8.91 billion for the quarter, compared to the consensus estimate of $8.30 billion. Morgan Stanley had a net margin of 13.27% and a return on equity of 6.41%. The business’s quarterly revenue was down 8.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.79 EPS. On average, analysts predict that Morgan Stanley will post $2.50 EPS for the current year.
In other Morgan Stanley news, major shareholder Stanley Morgan sold 357 shares of the stock in a transaction dated Tuesday, September 27th. The shares were sold at an average price of $23,750.00, for a total transaction of $8,478,750.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Paul C. Wirth sold 18,929 shares of the stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $31.70, for a total transaction of $600,049.30. Following the sale, the chief financial officer now owns 195,748 shares in the company, valued at $6,205,211.60. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.
A number of large investors have recently made changes to their positions in MS. Artemis Investment Management LLP increased its stake in Morgan Stanley by 32.1% in the second quarter. Artemis Investment Management LLP now owns 700,000 shares of the financial services provider’s stock worth $18,197,000 after buying an additional 170,000 shares during the last quarter. Legal & General Group Plc increased its stake in Morgan Stanley by 3.9% in the first quarter. Legal & General Group Plc now owns 6,209,559 shares of the financial services provider’s stock worth $155,316,000 after buying an additional 234,207 shares during the last quarter. Boston Advisors LLC increased its stake in Morgan Stanley by 36.8% in the second quarter. Boston Advisors LLC now owns 821,395 shares of the financial services provider’s stock worth $21,340,000 after buying an additional 220,974 shares during the last quarter. PGGM Investments increased its stake in Morgan Stanley by 3.0% in the second quarter. PGGM Investments now owns 986,220 shares of the financial services provider’s stock worth $25,622,000 after buying an additional 28,451 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new stake in Morgan Stanley during the first quarter worth $1,021,000. Hedge funds and other institutional investors own 83.64% of the company’s stock.
About Morgan Stanley
Morgan Stanley is a financial holding company. The Company is a global financial services firm that, through its subsidiaries and affiliates, advises, and originates, trades, manages and distributes capital for, governments, institutions and individuals. Its segments include Institutional Securities, Wealth Management and Investment Management.
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