Cornerstone Capital Management Holdings LLC. Has $12.50 Million Stake in Morgan Stanley (MS)
Cornerstone Capital Management Holdings LLC. lowered its stake in shares of Morgan Stanley (NYSE:MS) by 1.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 280,534 shares of the financial services provider’s stock after selling 3,708 shares during the quarter. Cornerstone Capital Management Holdings LLC.’s holdings in Morgan Stanley were worth $12,500,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust increased its position in shares of Morgan Stanley by 9.1% during the 2nd quarter. Parkside Financial Bank & Trust now owns 2,275 shares of the financial services provider’s stock valued at $101,000 after purchasing an additional 190 shares during the last quarter. Invictus RG bought a new position in shares of Morgan Stanley during the 1st quarter valued at approximately $106,000. V Wealth Management LLC bought a new position in shares of Morgan Stanley during the 2nd quarter valued at approximately $106,000. Omnia Family Wealth LLC increased its position in shares of Morgan Stanley by 5.8% during the 2nd quarter. Omnia Family Wealth LLC now owns 2,429 shares of the financial services provider’s stock valued at $108,000 after purchasing an additional 134 shares during the last quarter. Finally, Smithfield Trust Co. increased its position in shares of Morgan Stanley by 1.2% during the 2nd quarter. Smithfield Trust Co. now owns 3,690 shares of the financial services provider’s stock valued at $164,000 after purchasing an additional 42 shares during the last quarter. 85.18% of the stock is currently owned by hedge funds and other institutional investors.
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In related news, Chairman James P. Gorman sold 212,366 shares of Morgan Stanley stock in a transaction on Tuesday, August 1st. The stock was 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 in the company, valued at $75,739,301.34. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Jonathan Pruzan sold 25,767 shares of Morgan Stanley stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $46.68, for a total value of $1,202,803.56. Following the completion of the transaction, the chief financial officer now owns 196,708 shares of the company’s stock, valued at $9,182,329.44. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.
Shares of Morgan Stanley (NYSE:MS) traded up 0.26% during midday trading on Friday, hitting $49.76. The company had a trading volume of 5,159,442 shares. The firm has a market capitalization of $91.39 billion, a PE ratio of 14.25 and a beta of 1.61. Morgan Stanley has a 12 month low of $30.96 and a 12 month high of $50.14. The company has a 50-day moving average of $46.72 and a 200 day moving average of $44.77.
Morgan Stanley (NYSE:MS) last released its earnings results on Wednesday, July 19th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.11. The firm had revenue of $9.50 billion during the quarter, compared to analyst estimates of $9.05 billion. Morgan Stanley had a return on equity of 9.83% and a net margin of 16.77%. Morgan Stanley’s revenue was up 6.7% compared to the same quarter last year. During the same period last year, the business posted $0.75 earnings per share. On average, analysts expect that Morgan Stanley will post $3.48 EPS for the current fiscal year.
Morgan Stanley announced that its Board of Directors has initiated a share buyback program on Wednesday, June 28th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to purchase up to 6.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
A number of research firms recently issued reports on MS. HSBC Holdings plc set a $54.00 price objective on Morgan Stanley and gave the company a “hold” rating in a report on Friday, August 11th. Zacks Investment Research upgraded Morgan Stanley from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Macquarie restated an “outperform” rating and set a $52.00 price objective (up previously from $51.00) on shares of Morgan Stanley in a report on Saturday, July 22nd. J P Morgan Chase & Co set a $53.00 price objective on Morgan Stanley and gave the company a “buy” rating in a report on Friday, September 15th. Finally, BMO Capital Markets boosted their price objective on Morgan Stanley from $58.00 to $61.00 and gave the company an “outperform” rating in a report on Thursday, July 20th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Morgan Stanley has a consensus rating of “Buy” and an average target price of $48.98.
Morgan Stanley Company Profile
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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