1ST Source Bank Decreases Position in Morgan Stanley (MS)
1ST Source Bank cut its position in Morgan Stanley (NYSE:MS) by 3.0% during the second quarter, Holdings Channel reports. The firm owned 22,095 shares of the financial services provider’s stock after selling 677 shares during the period. 1ST Source Bank’s holdings in Morgan Stanley were worth $574,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Virginia Retirement System acquired a new position in shares of Morgan Stanley during the first quarter worth about $589,000. Investec Asset Management North America Inc. boosted its position in shares of Morgan Stanley by 40.1% in the first quarter. Investec Asset Management North America Inc. now owns 36,801 shares of the financial services provider’s stock worth $920,000 after buying an additional 10,538 shares in the last quarter. Aviva PLC boosted its position in shares of Morgan Stanley by 1.5% in the first quarter. Aviva PLC now owns 873,647 shares of the financial services provider’s stock worth $21,850,000 after buying an additional 12,881 shares in the last quarter. Wexford Capital LP boosted its position in shares of Morgan Stanley by 95.6% in the first quarter. Wexford Capital LP now owns 410,523 shares of the financial services provider’s stock worth $10,267,000 after buying an additional 200,663 shares in the last quarter. Finally, Credit Agricole S A boosted its position in shares of Morgan Stanley by 8.5% in the first quarter. Credit Agricole S A now owns 1,274,831 shares of the financial services provider’s stock worth $31,882,000 after buying an additional 99,509 shares in the last quarter. Institutional investors and hedge funds own 83.64% of the company’s stock.
Morgan Stanley (NYSE:MS) traded up 1.213% during midday trading on Friday, hitting $32.115. 7,860,429 shares of the company traded hands. The firm has a market capitalization of $61.40 billion, a PE ratio of 14.854 and a beta of 2.09. The stock’s 50-day moving average is $31.82 and its 200-day moving average is $28.17. Morgan Stanley has a 12-month low of $21.16 and a 12-month high of $35.74.
Morgan Stanley (NYSE:MS) last announced its quarterly earnings data on Wednesday, July 20th. The financial services provider reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.16. Morgan Stanley had a net margin of 13.27% and a return on equity of 6.41%. The business had revenue of $8.91 billion for the quarter, compared to analyst estimates of $8.30 billion. During the same period in the prior year, the business posted $0.79 earnings per share. Morgan Stanley’s revenue was down 8.6% compared to the same quarter last year. Analysts anticipate that Morgan Stanley will post $2.50 EPS for the current fiscal year.
A number of equities analysts have issued reports on the stock. Deutsche Bank AG reissued a “hold” rating on shares of Morgan Stanley in a report on Sunday, June 26th. Barclays PLC reaffirmed a “hold” rating on shares of Morgan Stanley in a report on Saturday, July 9th. Vetr raised Morgan Stanley from a “sell” rating to a “hold” rating and set a $26.38 price target on the stock in a report on Wednesday, July 13th. Berenberg Bank started coverage on Morgan Stanley in a report on Wednesday, July 13th. They set a “hold” rating and a $29.00 price target on the stock. Finally, UBS AG lifted their price target on Morgan Stanley from $32.00 to $34.00 and gave the company a “buy” rating in a report on Thursday, July 21st. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $32.42.
In other Morgan Stanley news, insider Jeffrey S. Brodsky sold 19,955 shares of the company’s stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $28.79, for a total value of $574,504.45. Following the completion of the sale, the insider now owns 123,710 shares of the company’s stock, valued at $3,561,610.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Donald T. Nicolaisen sold 3,302 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $27.88, for a total transaction of $92,059.76. Following the completion of the sale, the director now directly owns 91,704 shares of the company’s stock, valued at approximately $2,556,707.52. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by company insiders.
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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