Brown Brothers Harriman & Co. lifted its position in Morgan Stanley (NYSE:MS) by 1.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,634 shares of the financial services provider’s stock after purchasing an additional 166 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Morgan Stanley were worth $975,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Trustcore Financial Services LLC acquired a new position in shares of Morgan Stanley in the second quarter valued at $26,000. Selective Wealth Management Inc. acquired a new position in shares of Morgan Stanley in the second quarter valued at $28,000. Samalin Investment Counsel LLC acquired a new position in shares of Morgan Stanley in the second quarter valued at $28,000. Cowen Prime Advisors LLC acquired a new position in shares of Morgan Stanley in the second quarter valued at $29,000. Finally, KB Financial Partners LLC acquired a new position in shares of Morgan Stanley in the first quarter valued at $30,000. Institutional investors and hedge funds own 84.72% of the company’s stock.
A number of research analysts recently commented on the company. Berenberg Bank set a $95.00 target price on Morgan Stanley and gave the company a “hold” rating in a research note on Tuesday, September 28th. They noted that the move was a valuation call. Evercore ISI reiterated a “buy” rating and set a $103.00 price objective on shares of Morgan Stanley in a research note on Friday, July 2nd. Seaport Res Ptn lowered Morgan Stanley from a “buy” rating to a “neutral” rating in a research note on Friday, August 13th. Argus increased their price objective on Morgan Stanley from $93.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, July 16th. Finally, Jefferies Financial Group increased their price objective on Morgan Stanley from $108.00 to $119.00 and gave the stock a “buy” rating in a research note on Monday, October 4th. Eleven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $96.60.
Morgan Stanley (NYSE:MS) last posted its quarterly earnings results on Wednesday, July 14th. The financial services provider reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.22. The business had revenue of $14.76 billion for the quarter, compared to analysts’ expectations of $13.99 billion. Morgan Stanley had a return on equity of 14.86% and a net margin of 23.89%. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.96 earnings per share. As a group, sell-side analysts expect that Morgan Stanley will post 7.46 EPS for the current year.
Morgan Stanley announced that its board has approved a share buyback program on Monday, June 28th that allows the company to buyback $12.00 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 7.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
In other Morgan Stanley news, CFO Sharon Yeshaya sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, July 21st. The stock was sold at an average price of $95.64, for a total transaction of $239,100.00. Following the transaction, the chief financial officer now owns 24,895 shares in the company, valued at $2,380,957.80. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Andrew M. Saperstein sold 11,465 shares of the firm’s stock in a transaction dated Friday, July 16th. The stock was sold at an average price of $92.97, for a total value of $1,065,901.05. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,430 shares of company stock worth $2,370,902. 0.23% of the stock is owned by company insiders.
About Morgan Stanley
Morgan Stanley operates as a global financial services company. The firm provides investment banking products and services to its clients and customers including corporations, governments, financial institutions, and individuals. It operates through the following segments: Institutional Securities, Wealth Management, and Investment Management.
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