Morgan Stanley (MS) Shares Up 3.2%
Shares of Morgan Stanley (NYSE:MS) shot up 3.2% during mid-day trading on Thursday . The company traded as high as $28.02 and last traded at $28.02, with a volume of 7,385,744 shares. The stock had previously closed at $27.16.
A number of brokerages recently issued reports on MS. Vetr downgraded Morgan Stanley from a “buy” rating to a “hold” rating and set a $28.45 price objective for the company. in a research report on Wednesday, April 20th. Zacks Investment Research raised Morgan Stanley from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 3rd. Deutsche Bank AG reaffirmed a “hold” rating on shares of Morgan Stanley in a research report on Saturday, June 4th. Credit Suisse Group AG reaffirmed a “hold” rating on shares of Morgan Stanley in a research report on Tuesday. Finally, Berenberg Bank initiated coverage on Morgan Stanley in a research report on Wednesday. They issued a “hold” rating and a $29.00 target price for the company. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and thirteen have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $32.49.
The firm has a market cap of $54.24 billion and a PE ratio of 12.33. The firm has a 50-day moving average price of $26.08 and a 200 day moving average price of $26.05.
Morgan Stanley (NYSE:MS) last issued its quarterly earnings data on Monday, April 18th. The financial services provider reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by $0.10. The business earned $7.80 billion during the quarter, compared to analysts’ expectations of $8.52 billion. The firm’s quarterly revenue was down 21.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.85 EPS. On average, equities research analysts expect that Morgan Stanley will post $2.30 EPS for the current fiscal year.
In other Morgan Stanley news, insider Eric F. Grossman sold 24,952 shares of the stock in a transaction that occurred on Wednesday, May 25th. The stock was sold at an average price of $28.21, for a total transaction of $703,895.92. Following the transaction, the insider now owns 180,212 shares of the company’s stock, valued at approximately $5,083,780.52. The transaction was disclosed in a document filed with the SEC, which is available at this link.
A number of hedge funds and institutional investors have recently added to or reduced their stakes in MS. Westbourne Investment Advisors Inc. increased its position in Morgan Stanley by 6.9% in the fourth quarter. Westbourne Investment Advisors Inc. now owns 31,755 shares of the financial services provider’s stock worth $1,010,000 after buying an additional 2,045 shares in the last quarter. Trexquant Investment LP purchased a new position in Morgan Stanley during the fourth quarter worth approximately $1,753,000. Pittenger & Anderson Inc. increased its position in Morgan Stanley by 3.7% in the fourth quarter. Pittenger & Anderson Inc. now owns 34,640 shares of the financial services provider’s stock worth $1,102,000 after buying an additional 1,250 shares in the last quarter. Diamond Hill Capital Management Inc. increased its position in Morgan Stanley by 5.3% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 9,499,721 shares of the financial services provider’s stock worth $302,186,000 after buying an additional 479,790 shares in the last quarter. Finally, Marshall Wace LLP increased its position in Morgan Stanley by 28.9% in the fourth quarter. Marshall Wace LLP now owns 1,993,004 shares of the financial services provider’s stock worth $63,397,000 after buying an additional 446,980 shares in the last quarter.
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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