HighPoint Advisor Group LLC held its stake in Morgan Stanley (NYSE:MS) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,729 shares of the financial services provider’s stock at the close of the 2nd quarter. HighPoint Advisor Group LLC’s holdings in Morgan Stanley were worth $756,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the business. Albion Financial Group UT boosted its holdings in shares of Morgan Stanley by 8.1% in the 2nd quarter. Albion Financial Group UT now owns 13,371 shares of the financial services provider’s stock valued at $596,000 after purchasing an additional 1,000 shares in the last quarter. Wilbanks Smith & Thomas Asset Management LLC boosted its holdings in shares of Morgan Stanley by 1.0% in the 2nd quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 59,207 shares of the financial services provider’s stock valued at $2,638,000 after purchasing an additional 571 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Morgan Stanley by 39.0% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 46,369 shares of the financial services provider’s stock valued at $2,066,000 after purchasing an additional 13,000 shares in the last quarter. Private Advisory Group LLC boosted its holdings in shares of Morgan Stanley by 27,510.6% in the 2nd quarter. Private Advisory Group LLC now owns 1,945,169 shares of the financial services provider’s stock valued at $2,679,000 after purchasing an additional 1,938,124 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Morgan Stanley by 24.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,326,657 shares of the financial services provider’s stock valued at $549,275,000 after purchasing an additional 2,427,130 shares in the last quarter. 85.18% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CFO Jonathan Pruzan sold 25,767 shares of the stock in a transaction dated 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 sale, the chief financial officer now directly owns 196,708 shares in the company, valued at $9,182,329.44. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman James P. Gorman sold 212,366 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $47.26, for a total transaction of $10,036,417.16. Following the sale, the chairman now 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. Corporate insiders own 0.35% of the company’s stock.
Shares of Morgan Stanley (NYSE:MS) traded down 0.87% on Thursday, reaching $48.75. The company’s stock had a trading volume of 3,468,625 shares. The firm has a market cap of $89.53 billion, a price-to-earnings ratio of 13.96 and a beta of 1.61. The stock has a 50 day moving average of $47.08 and a 200-day moving average of $44.94. Morgan Stanley has a 12 month low of $30.96 and a 12 month high of $50.14.
Morgan Stanley (NYSE:MS) last posted its earnings results on Wednesday, July 19th. The financial services provider reported $0.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.11. The company had revenue of $9.50 billion during the quarter, compared to analyst estimates of $9.05 billion. Morgan Stanley had a net margin of 16.77% and a return on equity of 9.83%. Morgan Stanley’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.75 earnings per share. On average, analysts anticipate that Morgan Stanley will post $3.48 EPS for the current year.
Morgan Stanley announced that its board has authorized a share buyback program on Wednesday, June 28th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 6.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.
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A number of equities research analysts have weighed in on MS shares. ValuEngine downgraded Morgan Stanley from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. BMO Capital Markets raised their target price on Morgan Stanley from $58.00 to $61.00 and gave the company an “outperform” rating in a report on Thursday, July 20th. Buckingham Research reaffirmed a “buy” rating and issued a $54.00 target price (up previously from $51.00) on shares of Morgan Stanley in a report on Monday, July 10th. HSBC Holdings plc raised Morgan Stanley from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a report on Friday, September 15th. Finally, Zacks Investment Research downgraded Morgan Stanley from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $49.39.
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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