Morgan Stanley’s (MS) Neutral Rating Reaffirmed at Citigroup Inc.
Morgan Stanley (NYSE:MS)‘s stock had its “neutral” rating reiterated by stock analysts at Citigroup Inc. in a research note issued to investors on Monday. They currently have a $50.00 price objective on the financial services provider’s stock, up from their prior price objective of $46.00. Citigroup Inc.’s target price would indicate a potential upside of 1.26% from the company’s previous close.
Other analysts have also recently issued reports about the stock. HSBC Holdings plc set a $54.00 price target on shares of Morgan Stanley and gave the company a “hold” rating in a report on Friday, August 11th. Credit Suisse Group upgraded shares of Morgan Stanley from a “neutral” rating to an “outperform” rating and raised their price target for the company from $49.00 to $54.00 in a report on Monday. Zacks Investment Research upgraded shares of Morgan Stanley from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Macquarie restated an “outperform” rating and issued a $52.00 price target (up from $51.00) on shares of Morgan Stanley in a report on Saturday, July 22nd. Finally, J P Morgan Chase & Co set a $53.00 price target on shares of Morgan Stanley and gave the company a “buy” rating in a report on Friday, September 15th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $49.39.
Shares of Morgan Stanley (MS) traded down 0.76% during trading on Monday, reaching $49.38. 6,333,758 shares of the company were exchanged. Morgan Stanley has a 1-year low of $30.96 and a 1-year high of $50.14. The company has a market capitalization of $90.69 billion, a price-to-earnings ratio of 14.14 and a beta of 1.61. The stock’s 50 day moving average is $46.72 and its 200 day moving average is $44.77.
Morgan Stanley (NYSE:MS) last posted its earnings results on Wednesday, July 19th. The financial services provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates 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 company’s revenue for the quarter was up 6.7% on a year-over-year basis. Equities analysts anticipate that Morgan Stanley will post $3.47 earnings per share for the current year.
Morgan Stanley declared that its board has authorized a stock repurchase plan on Wednesday, June 28th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 6.1% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
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In other news, CFO Jonathan Pruzan sold 25,767 shares of Morgan Stanley stock in a transaction that occurred on 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 approximately $9,182,329.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman James P. Gorman sold 212,366 shares of Morgan Stanley stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $47.26, for a total transaction of $10,036,417.16. Following the transaction, the chairman now directly owns 1,602,609 shares of the company’s stock, valued at $75,739,301.34. The disclosure for this sale can be found here. 0.24% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of Morgan Stanley by 1.0% during the 2nd quarter. BlackRock Inc. now owns 102,137,658 shares of the financial services provider’s stock valued at $4,551,254,000 after purchasing an additional 969,461 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Morgan Stanley by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 93,483,287 shares of the financial services provider’s stock valued at $4,165,615,000 after purchasing an additional 1,256,318 shares in the last quarter. FMR LLC increased its holdings in shares of Morgan Stanley by 16.9% during the 1st quarter. FMR LLC now owns 46,221,986 shares of the financial services provider’s stock valued at $1,980,150,000 after purchasing an additional 6,692,676 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Morgan Stanley by 3.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 20,973,434 shares of the financial services provider’s stock valued at $934,569,000 after purchasing an additional 654,034 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Morgan Stanley by 7.2% during the 1st quarter. Geode Capital Management LLC now owns 14,456,307 shares of the financial services provider’s stock valued at $618,456,000 after purchasing an additional 970,041 shares in the last quarter. 85.18% of the stock is owned by hedge funds and other institutional investors.
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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