Morgan Stanley (MS) Given New $32.00 Price Target at Citigroup Inc.
Morgan Stanley (NYSE:MS) had its price target increased by equities research analysts at Citigroup Inc. from $30.00 to $32.00 in a research report issued on Monday. The firm currently has a “neutral” rating on the financial services provider’s stock. Citigroup Inc.’s price objective would suggest a potential downside of 0.96% from the company’s current price.
A number of other research firms have also issued reports on MS. Deutsche Bank AG reissued a “hold” rating on shares of Morgan Stanley in a research report on Sunday, June 26th. Barclays PLC reissued a “hold” rating on shares of Morgan Stanley in a research report on Saturday, July 9th. Vetr raised shares of Morgan Stanley from a “sell” rating to a “hold” rating and set a $26.38 price target for the company in a research report on Wednesday, July 13th. Berenberg Bank assumed coverage on shares of Morgan Stanley in a research report on Wednesday, July 13th. They issued a “hold” rating and a $29.00 price target for the company. Finally, UBS AG increased their price target on shares of Morgan Stanley from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, July 21st. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Morgan Stanley currently has an average rating of “Hold” and a consensus price target of $32.42.
Shares of Morgan Stanley (NYSE:MS) traded up 0.851% on Monday, hitting $32.585. 4,003,436 shares of the stock traded hands. The stock has a 50-day moving average price of $31.66 and a 200 day moving average price of $28.00. The stock has a market cap of $62.30 billion, a price-to-earnings ratio of 15.072 and a beta of 2.09. Morgan Stanley has a 12-month low of $21.16 and a 12-month high of $35.74.
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Morgan Stanley (NYSE:MS) last announced its 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. Morgan Stanley had a net margin of 13.27% and a return on equity of 6.41%. The company earned $8.91 billion during the quarter, compared to analysts’ expectations of $8.30 billion. During the same period last year, the company posted $0.79 earnings per share. The business’s revenue for the quarter was down 8.6% on a year-over-year basis. On average, analysts anticipate that Morgan Stanley will post $2.50 earnings per share for the current fiscal year.
In related news, CFO Paul C. Wirth sold 20,000 shares of Morgan Stanley stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $30.20, for a total value of $604,000.00. Following the completion of the transaction, the chief financial officer now directly owns 214,280 shares of the company’s stock, valued at $6,471,256. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Stanley Morgan sold 357 shares of Morgan Stanley stock in a transaction dated Tuesday, September 27th. The shares were sold at an average price of $23,750.00, for a total value of $8,478,750.00. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its position in Morgan Stanley by 15.3% in the first quarter. State Street Corp now owns 158,338,614 shares of the financial services provider’s stock worth $3,960,055,000 after buying an additional 20,974,063 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Morgan Stanley by 1.5% in the second quarter. Vanguard Group Inc. now owns 86,662,981 shares of the financial services provider’s stock worth $2,251,503,000 after buying an additional 1,303,627 shares during the last quarter. ValueAct Holdings L.P. purchased a new stake in shares of Morgan Stanley during the second quarter worth approximately $987,240,000. FMR LLC raised its stake in shares of Morgan Stanley by 9.5% in the second quarter. FMR LLC now owns 25,261,255 shares of the financial services provider’s stock worth $656,286,000 after buying an additional 2,191,933 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Morgan Stanley by 3.9% in the first quarter. Geode Capital Management LLC now owns 13,162,956 shares of the financial services provider’s stock worth $328,582,000 after buying an additional 489,414 shares during the last quarter. 83.64% of the stock is owned by institutional investors and hedge funds.
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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