TrinityPoint Wealth LLC acquired a new position in shares of Morgan Stanley (NYSE:MS) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,810 shares of the financial services provider’s stock, valued at approximately $258,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Trustcore Financial Services LLC acquired a new stake in Morgan Stanley in the second quarter valued at approximately $26,000. Selective Wealth Management Inc. acquired a new stake in shares of Morgan Stanley in the 2nd quarter valued at $28,000. Samalin Investment Counsel LLC purchased a new stake in shares of Morgan Stanley during the 2nd quarter worth $28,000. Cowen Prime Advisors LLC acquired a new position in shares of Morgan Stanley during the second quarter worth $29,000. Finally, KB Financial Partners LLC purchased a new position in Morgan Stanley in the first quarter valued at $30,000. Institutional investors and hedge funds own 84.72% of the company’s stock.
Shares of NYSE MS opened at $100.74 on Thursday. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.74 and a current ratio of 0.74. Morgan Stanley has a one year low of $46.55 and a one year high of $105.95. The firm has a market capitalization of $183.81 billion, a P/E ratio of 13.13, a PEG ratio of 2.20 and a beta of 1.56. The company’s fifty day moving average is $101.80 and its two-hundred day moving average is $92.52.
Morgan Stanley declared that its Board of Directors has authorized a stock buyback program on Monday, June 28th that authorizes the company to buyback $12.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 7.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.
In related news, CFO Sharon Yeshaya sold 2,500 shares of Morgan Stanley stock in a transaction that occurred on Wednesday, July 21st. The stock was sold at an average price of $95.64, for a total transaction of $239,100.00. Following the completion of the transaction, the chief financial officer now directly owns 24,895 shares in the company, valued at approximately $2,380,957.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Andrew M. Saperstein sold 11,465 shares of the firm’s stock in a transaction on 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 90 days, insiders sold 25,430 shares of company stock worth $2,370,902. Insiders own 0.23% of the company’s stock.
A number of research firms have recently commented on MS. Royal Bank of Canada increased their price objective on Morgan Stanley from $82.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, July 7th. Jefferies Financial Group boosted their price objective on shares of Morgan Stanley from $108.00 to $119.00 and gave the stock a “buy” rating in a research report on Monday, October 4th. Citigroup increased their target price on shares of Morgan Stanley from $88.00 to $97.00 and gave the company a “neutral” rating in a research report on Monday, July 19th. They noted that the move was a valuation call. BMO Capital Markets boosted their target price on Morgan Stanley from $97.00 to $103.00 and gave the company an “outperform” rating in a report on Friday, July 16th. Finally, Wells Fargo & Company raised their price target on Morgan Stanley from $89.00 to $98.00 and gave the stock an “equal weight” rating in a research note on Monday, October 4th. Eleven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Morgan Stanley presently has a consensus rating of “Buy” and an average price target of $96.60.
Morgan Stanley Company Profile
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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