Hohimer Wealth Management LLC Invests $3.96 Million in Morgan Stanley (NYSE:MS)

by · The Markets Daily

Hohimer Wealth Management LLC acquired a new position in Morgan Stanley (NYSE:MS – Free Report) during the first quarter, Holdings Channel.com reports. The firm acquired 33,910 shares of the financial services provider’s stock, valued at approximately $3,956,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. 1ST Source Bank boosted its holdings in Morgan Stanley by 0.5% during the fourth quarter. 1ST Source Bank now owns 15,925 shares of the financial services provider’s stock worth $2,002,000 after buying an additional 73 shares in the last quarter. Omnia Family Wealth LLC boosted its holdings in Morgan Stanley by 2.5% during the fourth quarter. Omnia Family Wealth LLC now owns 3,140 shares of the financial services provider’s stock worth $395,000 after buying an additional 77 shares in the last quarter. Continuum Advisory LLC boosted its holdings in Morgan Stanley by 2.5% during the fourth quarter. Continuum Advisory LLC now owns 3,638 shares of the financial services provider’s stock worth $457,000 after buying an additional 87 shares in the last quarter. Insight Inv LLC boosted its holdings in Morgan Stanley by 0.5% during the first quarter. Insight Inv LLC now owns 18,378 shares of the financial services provider’s stock worth $2,144,000 after buying an additional 88 shares in the last quarter. Finally, Vivaldi Capital Management LP boosted its holdings in Morgan Stanley by 1.8% during the fourth quarter. Vivaldi Capital Management LP now owns 5,096 shares of the financial services provider’s stock worth $696,000 after buying an additional 90 shares in the last quarter. Institutional investors and hedge funds own 84.19% of the company’s stock.

Insider Activity at Morgan Stanley

In related news, insider Eric F. Grossman sold 10,068 shares of the business’s stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $111.65, for a total value of $1,124,092.20. Following the completion of the sale, the insider directly owned 199,274 shares in the company, valued at approximately $22,248,942.10. The trade was a 4.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Andrew M. Saperstein sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $120.00, for a total transaction of $4,800,000.00. Following the sale, the insider owned 335,765 shares of the company’s stock, valued at approximately $40,291,800. This represents a 10.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,868 shares of company stock worth $6,019,548. 0.19% of the stock is owned by company insiders.

Morgan Stanley Price Performance

Shares of NYSE MS opened at $142.25 on Monday. The firm has a market capitalization of $228.21 billion, a P/E ratio of 16.70, a PEG ratio of 1.34 and a beta of 1.30. Morgan Stanley has a one year low of $90.94 and a one year high of $145.16. The company’s fifty day moving average is $132.11 and its two-hundred day moving average is $126.70. The company has a debt-to-equity ratio of 3.11, a quick ratio of 0.78 and a current ratio of 0.78.

Morgan Stanley (NYSE:MS – Get Free Report) last posted its quarterly earnings data on Friday, April 11th. The financial services provider reported $2.60 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.39. The business had revenue of $17.74 billion during the quarter, compared to analyst estimates of $16.81 billion. Morgan Stanley had a net margin of 12.98% and a return on equity of 14.98%. The company’s revenue was up 17.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.02 earnings per share. Analysts forecast that Morgan Stanley will post 8.56 EPS for the current fiscal year.

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on MS shares. Wells Fargo & Company increased their price target on shares of Morgan Stanley from $120.00 to $145.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 8th. Erste Group Bank raised shares of Morgan Stanley from a “hold” rating to a “strong-buy” rating in a report on Saturday, May 24th. Keefe, Bruyette & Woods raised shares of Morgan Stanley from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $127.00 to $160.00 in a report on Wednesday, July 9th. Evercore ISI decreased their price objective on shares of Morgan Stanley from $150.00 to $138.00 and set an “outperform” rating on the stock in a report on Tuesday, April 1st. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Morgan Stanley from $125.00 to $122.00 and set a “neutral” rating on the stock 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, Morgan Stanley currently has an average rating of “Hold” and a consensus target price of $136.69.

View Our Latest Stock Report on MS

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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Want to see what other hedge funds are holding MS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Morgan Stanley (NYSE:MS – Free Report).