Investment Centers of America Inc. increased its stake in shares of Morgan Stanley (NYSE:MS) by 69.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,391 shares of the financial services provider’s stock after buying an additional 5,878 shares during the quarter. Investment Centers of America Inc.’s holdings in Morgan Stanley were worth $639,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. BlackRock Inc. grew its stake in Morgan Stanley by 1.0% during the 2nd quarter. BlackRock Inc. now owns 102,137,658 shares of the financial services provider’s stock worth $4,551,254,000 after buying an additional 969,461 shares during the last quarter. Vanguard Group Inc. grew its stake in Morgan Stanley by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 92,226,969 shares of the financial services provider’s stock worth $3,951,003,000 after buying an additional 4,331,723 shares during the last quarter. FMR LLC grew its stake in Morgan Stanley by 16.9% during the 1st quarter. FMR LLC now owns 46,221,986 shares of the financial services provider’s stock worth $1,980,150,000 after buying an additional 6,692,676 shares during the last quarter. Ameriprise Financial Inc. grew its stake in 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 worth $934,569,000 after buying an additional 654,034 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in 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 worth $618,456,000 after buying an additional 970,041 shares during the last quarter. Hedge funds and other institutional investors own 85.20% of the company’s stock.
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 transaction of $10,036,417.16. Following the completion of the sale, the chairman now directly owns 1,602,609 shares of the company’s stock, valued at $75,739,301.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Jonathan Pruzan sold 25,767 shares of Morgan Stanley stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $46.68, for a total value of $1,202,803.56. Following the sale, the chief financial officer now directly owns 196,708 shares of the company’s stock, valued at $9,182,329.44. The disclosure for this sale can be found here. 0.35% of the stock is owned by insiders.
MS has been the subject of a number of recent research reports. J P Morgan Chase & Co restated a “buy” rating on shares of Morgan Stanley in a research note on Tuesday, May 23rd. Royal Bank Of Canada restated a “buy” rating and set a $50.00 price objective on shares of Morgan Stanley in a research note on Tuesday, June 6th. Instinet restated a “buy” rating and set a $50.00 price objective (down from $51.00) on shares of Morgan Stanley in a research note on Saturday, June 3rd. Zacks Investment Research upgraded Morgan Stanley from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research note on Friday, May 26th. Finally, Buckingham Research reissued a “buy” rating and issued a $54.00 price target (up previously from $51.00) on shares of Morgan Stanley in a research note on Monday, July 10th. One analyst has rated the stock with a sell rating, eight have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $48.48.
Shares of Morgan Stanley (MS) traded up 0.39% during midday trading on Friday, hitting $46.60. The stock had a trading volume of 9,113,079 shares. The firm has a market capitalization of $85.58 billion, a PE ratio of 13.35 and a beta of 1.63. The firm’s 50-day moving average price is $46.09 and its 200-day moving average price is $44.54. Morgan Stanley has a one year low of $30.62 and a one year high of $48.90.
Morgan Stanley (NYSE:MS) last released its earnings results on Wednesday, July 19th. The financial services provider reported $0.87 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.11. The company had revenue of $9.50 billion during the quarter, compared to analysts’ expectations of $9.05 billion. Morgan Stanley had a return on equity of 9.83% and a net margin of 16.77%. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period last year, the firm earned $0.75 EPS. On average, equities analysts predict that Morgan Stanley will post $3.50 EPS for the current year.
Morgan Stanley announced that its Board of Directors has approved a share repurchase program on Wednesday, June 28th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 6.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
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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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