Vining Sparks reiterated their buy rating on shares of Morgan Stanley (NYSE:MS) in a research report released on Wednesday. Vining Sparks currently has a $67.00 price target on the financial services provider’s stock.
“We believe that MS’ return-on-tangible common equity should improve by 4 to 5 percentage points in 2018E which should push its excess return-on-equity to 6 to 7 percentage points and its price-to-tangible book value to 200%. Thus, we believe MS now has more than a 20% potential total return from this its current share price level.”,” Vining Sparks’ analyst wrote.
A number of other research firms have also commented on MS. Zacks Investment Research raised Morgan Stanley from a hold rating to a buy rating and set a $59.00 target price for the company in a report on Wednesday, January 3rd. Barclays lifted their target price on Morgan Stanley from $52.00 to $62.00 and gave the stock an equal weight rating in a report on Tuesday, January 2nd. Societe Generale lowered Morgan Stanley from a buy rating to a hold rating in a report on Tuesday, January 9th. Keefe, Bruyette & Woods reissued a buy rating and issued a $63.00 target price on shares of Morgan Stanley in a report on Friday, December 22nd. Finally, Wells Fargo set a $55.00 price objective on Morgan Stanley and gave the stock a hold rating in a report on Wednesday, December 20th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $54.84.
Morgan Stanley (NYSE:MS) last posted its quarterly earnings data on Wednesday, April 18th. The financial services provider reported $1.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.17. Morgan Stanley had a return on equity of 10.07% and a net margin of 14.10%. The company had revenue of $11.08 billion during the quarter, compared to analyst estimates of $10.37 billion. During the same quarter last year, the company earned $1.00 EPS. The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. equities research analysts forecast that Morgan Stanley will post 4.53 earnings per share for the current fiscal year.
In other news, Chairman James P. Gorman sold 100,000 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $55.34, for a total value of $5,534,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Jonathan Pruzan sold 52,204 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $55.35, for a total value of $2,889,491.40. The disclosure for this sale can be found here. Insiders have sold 239,254 shares of company stock worth $13,085,019 over the last quarter. 0.19% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in the company. ValueAct Holdings L.P. lifted its position in shares of Morgan Stanley by 0.4% in the fourth quarter. ValueAct Holdings L.P. now owns 17,959,620 shares of the financial services provider’s stock valued at $942,341,000 after acquiring an additional 75,000 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Morgan Stanley by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 14,948,683 shares of the financial services provider’s stock worth $782,739,000 after buying an additional 206,318 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Morgan Stanley by 14.2% in the fourth quarter. Bank of New York Mellon Corp now owns 12,643,249 shares of the financial services provider’s stock worth $663,392,000 after buying an additional 1,569,202 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Morgan Stanley by 2.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 12,276,170 shares of the financial services provider’s stock worth $644,130,000 after buying an additional 299,060 shares in the last quarter. Finally, LSV Asset Management lifted its position in shares of Morgan Stanley by 2.9% in the fourth quarter. LSV Asset Management now owns 6,117,877 shares of the financial services provider’s stock worth $321,005,000 after buying an additional 174,300 shares in the last quarter. Institutional investors and hedge funds own 86.06% of the company’s stock.
About Morgan Stanley
Morgan Stanley, a financial holding company, provides various financial products and services to corporations, governments, financial institutions, and individuals in the Americas, Europe, the Middle East, Africa, and Asia. The company operates through three segments: Institutional Securities, Wealth Management, and Investment Management.
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