Putnam Investments LLC grew its stake in shares of Morgan Stanley (NYSE:MS) by 61.5% in the second quarter, HoldingsChannel.com reports. The firm owned 1,507,007 shares of the financial services provider’s stock after acquiring an additional 573,587 shares during the period. Putnam Investments LLC’s holdings in Morgan Stanley were worth $71,432,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. HM Payson & Co. lifted its stake in Morgan Stanley by 14.5% in the first quarter. HM Payson & Co. now owns 7,479 shares of the financial services provider’s stock worth $403,000 after acquiring an additional 947 shares during the period. Hennessy Advisors Inc. lifted its stake in Morgan Stanley by 2.3% in the second quarter. Hennessy Advisors Inc. now owns 45,000 shares of the financial services provider’s stock worth $2,133,000 after acquiring an additional 1,000 shares during the period. Baxter Bros Inc. lifted its stake in Morgan Stanley by 2.6% in the second quarter. Baxter Bros Inc. now owns 44,210 shares of the financial services provider’s stock worth $2,096,000 after acquiring an additional 1,100 shares during the period. Cornerstone Advisors Inc. lifted its stake in Morgan Stanley by 33.4% in the second quarter. Cornerstone Advisors Inc. now owns 4,894 shares of the financial services provider’s stock worth $232,000 after acquiring an additional 1,224 shares during the period. Finally, Rathbone Brothers plc lifted its stake in Morgan Stanley by 0.8% in the second quarter. Rathbone Brothers plc now owns 155,203 shares of the financial services provider’s stock worth $7,357,000 after acquiring an additional 1,260 shares during the period. 84.43% of the stock is owned by hedge funds and other institutional investors.
MS stock opened at $48.19 on Friday. The stock has a market cap of $82.84 billion, a price-to-earnings ratio of 13.39, a PEG ratio of 0.84 and a beta of 1.42. Morgan Stanley has a one year low of $46.14 and a one year high of $59.38. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 2.67.
Morgan Stanley (NYSE:MS) last released its quarterly earnings results on Wednesday, July 18th. The financial services provider reported $1.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.19. The business had revenue of $10.61 billion during the quarter, compared to analyst estimates of $10.05 billion. Morgan Stanley had a net margin of 15.84% and a return on equity of 12.04%. The company’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.87 earnings per share. analysts predict that Morgan Stanley will post 4.85 earnings per share for the current year.
Morgan Stanley declared that its board has initiated a stock buyback plan on Thursday, June 28th that authorizes the company to buyback $4.70 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 5.6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
A number of analysts recently weighed in on MS shares. Zacks Investment Research lowered shares of Morgan Stanley from a “buy” rating to a “hold” rating in a research note on Tuesday, August 14th. ValuEngine lowered shares of Morgan Stanley from a “hold” rating to a “sell” rating in a research note on Thursday, August 2nd. Sanford C. Bernstein raised shares of Morgan Stanley from an “underperform” rating to a “market perform” rating and set a $51.00 price objective for the company in a research note on Wednesday, July 18th. Societe Generale reaffirmed a “$49.85” rating and issued a $56.00 price objective on shares of Morgan Stanley in a research note on Thursday, July 19th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Morgan Stanley in a research note on Tuesday, June 12th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $57.37.
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.
Further Reading: Stock Symbol
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