Concord Asset Management LLC VA Raises Holdings in Morgan Stanley (NYSE:MS)

by · The Markets Daily

Concord Asset Management LLC VA lifted its stake in Morgan Stanley (NYSE:MS – Free Report) by 105.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,432 shares of the financial services provider’s stock after buying an additional 12,560 shares during the quarter. Concord Asset Management LLC VA’s holdings in Morgan Stanley were worth $2,744,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Larson Financial Group LLC boosted its stake in shares of Morgan Stanley by 78.4% in the first quarter. Larson Financial Group LLC now owns 7,637 shares of the financial services provider’s stock worth $891,000 after buying an additional 3,355 shares during the last quarter. Sage Mountain Advisors LLC boosted its position in Morgan Stanley by 5.2% during the first quarter. Sage Mountain Advisors LLC now owns 7,200 shares of the financial services provider’s stock worth $840,000 after purchasing an additional 359 shares in the last quarter. Wealthfront Advisers LLC boosted its position in Morgan Stanley by 3.7% during the first quarter. Wealthfront Advisers LLC now owns 127,843 shares of the financial services provider’s stock worth $14,915,000 after purchasing an additional 4,607 shares in the last quarter. First Business Financial Services Inc. boosted its position in Morgan Stanley by 18.3% during the first quarter. First Business Financial Services Inc. now owns 2,084 shares of the financial services provider’s stock worth $243,000 after purchasing an additional 322 shares in the last quarter. Finally, West Family Investments Inc. boosted its position in Morgan Stanley by 17.9% during the first quarter. West Family Investments Inc. now owns 3,478 shares of the financial services provider’s stock worth $406,000 after purchasing an additional 529 shares in the last quarter. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Morgan Stanley Stock Performance

Shares of Morgan Stanley stock opened at $143.97 on Tuesday. Morgan Stanley has a one year low of $90.94 and a one year high of $145.16. The company has a market cap of $230.97 billion, a price-to-earnings ratio of 16.90, a PEG ratio of 1.34 and a beta of 1.30. The company has a debt-to-equity ratio of 3.11, a quick ratio of 0.78 and a current ratio of 0.78. The business’s 50 day moving average price is $132.60 and its 200 day moving average price is $126.82.

Morgan Stanley (NYSE:MS – Get Free Report) last announced its quarterly earnings data on Friday, April 11th. The financial services provider reported $2.60 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.39. Morgan Stanley had a return on equity of 14.98% and a net margin of 12.98%. The firm had revenue of $17.74 billion for the quarter, compared to the consensus estimate of $16.81 billion. During the same quarter last year, the business posted $2.02 earnings per share. The firm’s revenue was up 17.2% compared to the same quarter last year. On average, research analysts predict that Morgan Stanley will post 8.56 EPS for the current year.

Morgan Stanley announced that its board has initiated a stock repurchase program on Tuesday, July 1st that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the financial services provider to buy up to 8.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MS. The Goldman Sachs Group increased their price target on Morgan Stanley from $121.00 to $136.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 10th. JPMorgan Chase & Co. lowered their price target on Morgan Stanley from $125.00 to $122.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Wells Fargo & Company increased their price target on Morgan Stanley from $120.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods raised Morgan Stanley from a “market perform” rating to an “outperform” rating and increased their target price for the company from $127.00 to $160.00 in a report on Wednesday, July 9th. Finally, JMP Securities reissued a “market perform” rating on shares of Morgan Stanley in a report on Monday, April 14th. Ten research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $136.69.

Check Out Our Latest Stock Report on Morgan Stanley

Insider Buying and Selling

In other Morgan Stanley news, Director Robert H. Herz sold 800 shares of the firm’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $119.32, for a total transaction of $95,456.00. Following the completion of the sale, the director owned 96,760 shares of the company’s stock, valued at $11,545,403.20. This trade represents a 0.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Andrew M. Saperstein sold 40,000 shares of the firm’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $120.00, for a total value of $4,800,000.00. Following the sale, the insider directly owned 335,765 shares of the company’s stock, valued at approximately $40,291,800. This trade represents a 10.64% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Morgan Stanley Company Profile

(Free Report)

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. It operates through Institutional Securities, Wealth Management, and Investment Management segments.

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