Stock Traders Proving the Winners While Wall Street Awaits Morgan Stanley
19 April, 2018, 02:06 | Author: Franklin Nunez
Cambridge Investment Research Advisors Inc. grew its stake in Morgan Stanley by 14.4% in the fourth quarter. Societe Generale lowered Morgan Stanley from a buy rating to a hold rating in a research report on Tuesday, January 9th. Conning Inc. now owns 37,427 shares of the financial services provider's stock valued at $1,200,000 after buying an additional 890 shares in the last quarter. The company presently has an average rating of "Buy" and an average price target of $54.52.
In 2008, as part of a strategic alliance between MUFG and Morgan Stanley, MUFG acquired beneficial ownership of approximately 22.62% of the issued and outstanding shares of Common Stock.
However, the early days of the second quarter have been defined more by geopolitical tensions, trade conflicts and debates about the direction of yields, Chief Financial Officer Jonathan Pruzan said in an interview. The company has a market capitalization of $95,684.59, a price-to-earnings ratio of 14.79, a price-to-earnings-growth ratio of 0.93 and a beta of 1.54.
Morgan Stanley on Wednesday reported recordrevenue and quarterly profits thanks to a combination of strong trading results and the benefit of lower taxes, the last of the big USA banks to post a strong start to the year.
The bank reported adjusted earnings per share of $1.45, a 45% increase from past year, and well ahead of analyst expectations of $1.28 per share. The firm had revenue of $11.08 billion for the quarter, compared to analyst estimates of $10.37 billion. The company's quarterly revenue was up 13.7% compared to the same quarter past year.
Morgan Stanley'sfixed income results were in stark contrast to many other Wall Street bank which struggled during the first quarter.
Among 15 analysts covering Morgan Stanley (NYSE:MS), 10 have Buy rating, 1 Sell and 4 Hold. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The stock was sold at an average price of $55.34, for a total value of $5,534,000.00. The disclosure for this sale can be found here.
When Wells Fargo & Co. analyst Mike Mayo noted that the bank's return on equity in the quarter already surpassed the goal it set just three months ago, Gorman reminded him that things can change quickly.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. It also reduced its holding in Edwards Lifesciences Corp (NYSE:EW) by 12,469 shares in the quarter, leaving it with 28,409 shares, and cut its stake in Allstate Corp (NYSE:ALL). The stock decreased 5.93% or $0.07 during the last trading session, reaching $1.11. Finally, Conning Inc. increased its stake in shares of Morgan Stanley by 2.4% in the third quarter. Mitsubishi Ufj Finance Gru has 100% invested in Morgan Stanley (NYSE:MS) for 432.02 million shares. Funds hold 1.51 billion shares thus 1.16% less from 2017Q3's 1.53 billion shares. Janney Montgomery Scott LLC lifted its holdings in Morgan Stanley by 42.3% during the 3rd quarter.
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The financial services company reported operating income of $2.81 billion for the same period of the year prior.
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