K.J. Harrison & Partners Inc purchased a new position in Morgan Stanley (NYSE:MS) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 126,437 shares of the financial services provider’s stock, valued at approximately $3,285,000. Morgan Stanley accounts for 1.8% of K.J. Harrison & Partners Inc’s investment portfolio, making the stock its 9th largest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Legal & General Group Plc raised its position in shares of Morgan Stanley by 3.9% in the first quarter. Legal & General Group Plc now owns 6,209,559 shares of the financial services provider’s stock worth $155,316,000 after buying an additional 234,207 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in shares of Morgan Stanley during the first quarter worth about $1,021,000. Zurich Insurance Group Ltd FI raised its position in shares of Morgan Stanley by 23.1% in the first quarter. Zurich Insurance Group Ltd FI now owns 222,683 shares of the financial services provider’s stock worth $5,569,000 after buying an additional 41,764 shares during the period. Lincluden Management Ltd. raised its position in shares of Morgan Stanley by 1.1% in the first quarter. Lincluden Management Ltd. now owns 224,065 shares of the financial services provider’s stock worth $5,604,000 after buying an additional 2,440 shares during the period. Finally, LPL Financial LLC raised its position in shares of Morgan Stanley by 2.4% in the first quarter. LPL Financial LLC now owns 175,292 shares of the financial services provider’s stock worth $4,274,000 after buying an additional 4,129 shares during the period. Institutional investors and hedge funds own 83.64% of the company’s stock.

Morgan Stanley (NYSE:MS) traded up 0.69% on Wednesday, reaching $31.92. 10,073,632 shares of the company’s stock were exchanged. The stock has a market capitalization of $61.02 billion, a PE ratio of 14.76 and a beta of 2.18. Morgan Stanley has a 12 month low of $21.16 and a 12 month high of $35.74. The firm has a 50 day moving average of $30.80 and a 200 day moving average of $27.47.

Morgan Stanley (NYSE:MS) last posted its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.59 by $0.16. The business earned $8.91 billion during the quarter, compared to analysts’ expectations of $8.30 billion. Morgan Stanley had a net margin of 13.27% and a return on equity of 6.41%. The firm’s quarterly revenue was down 8.6% compared to the same quarter last year. During the same period last year, the company posted $0.79 earnings per share. Equities analysts predict that Morgan Stanley will post $2.50 earnings per share for the current fiscal year.

A number of analysts recently commented on MS shares. Royal Bank Of Canada boosted their price objective on shares of Morgan Stanley from $27.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, July 21st. JPMorgan Chase & Co. reissued a “buy” rating and set a $27.00 price objective (down previously from $29.00) on shares of Morgan Stanley in a report on Monday, June 27th. BMO Capital Markets set a $46.00 price objective on shares of Morgan Stanley and gave the stock a “buy” rating in a report on Wednesday, July 20th. Nomura reissued a “buy” rating and set a $34.00 price objective on shares of Morgan Stanley in a report on Friday, July 22nd. Finally, Wells Fargo & Co. reissued a “hold” rating on shares of Morgan Stanley in a report on Sunday, July 10th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $31.97.

In related news, CFO Paul C. Wirth sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $30.20, for a total transaction of $604,000.00. Following the transaction, the chief financial officer now owns 214,280 shares of the company’s stock, valued at $6,471,256. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jeffrey S. Brodsky sold 19,955 shares of the firm’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 transaction of $574,504.45. Following the transaction, the insider now directly owns 123,710 shares in the company, valued at approximately $3,561,610.90. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

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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