Trade Report: The Citigroup Inc. Raises Morgan Stanley (MS) Price Target to $32.00

The Citigroup Inc. Raises Morgan Stanley (MS) Price Target to $32.00

Morgan Stanley (NYSE:MS) had its target price upped by Citigroup Inc. from $30.00 to $32.00 in a research report sent to investors on Monday morning. The brokerage currently has a neutral rating on the financial services provider’s stock.

A number of other research analysts have also weighed in on MS. JPMorgan Chase & Co. set a $32.00 price target on shares of Morgan Stanley and gave the company a buy rating in a research note on Thursday, September 22nd. Zacks Investment Research raised shares of Morgan Stanley from a hold rating to a buy rating and set a $36.00 price target on the stock in a research note on Wednesday, October 5th. Buckingham Research reaffirmed a buy rating on shares of Morgan Stanley in a research note on Tuesday, June 21st. Wells Fargo & Co. reaffirmed a hold rating on shares of Morgan Stanley in a research note on Sunday, July 10th. Finally, Royal Bank Of Canada raised their price target on shares of Morgan Stanley from $27.00 to $32.00 and gave the company an outperform rating in a research note on Thursday, July 21st. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $32.42.

Morgan Stanley (NYSE:MS) opened at 31.73 on Monday. The company has a market cap of $60.66 billion, a PE ratio of 14.68 and a beta of 2.09. Morgan Stanley has a 1-year low of $21.16 and a 1-year high of $35.74. The stock’s 50 day moving average price is $31.82 and its 200-day moving average price is $28.17.

Morgan Stanley (NYSE:MS) last posted its earnings results on Wednesday, July 20th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.16. Morgan Stanley had a net margin of 13.27% and a return on equity of 6.41%. The business had revenue of $8.91 billion for the quarter, compared to analyst estimates of $8.30 billion. During the same period in the prior year, the company posted $0.79 EPS. The company’s revenue for the quarter was down 8.6% on a year-over-year basis. On average, analysts forecast that Morgan Stanley will post $2.50 earnings per share for the current year.

In related news, insider Keishi Hotsuki sold 246,452 shares of the business’s stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $30.27, for a total value of $7,460,102.04. Following the completion of the sale, the insider now directly owns 455,191 shares of the company’s stock, valued at $13,778,631.57. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Donald T. Nicolaisen sold 3,302 shares of the business’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $27.88, for a total transaction of $92,059.76. Following the completion of the sale, the director now directly owns 91,704 shares of the company’s stock, valued at $2,556,707.52. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Virginia Retirement System bought a new stake in shares of Morgan Stanley during the first quarter worth $589,000. NN Investment Partners Holdings N.V. acquired a new stake in shares of Morgan Stanley during the first quarter worth approximately $8,571,000. ING Groep NV boosted its stake in shares of Morgan Stanley by 1,150.6% in the first quarter. ING Groep NV now owns 638,660 shares of the financial services provider’s stock worth $15,967,000 after buying an additional 587,591 shares during the last quarter. Algebris Investments UK LLP acquired a new stake in shares of Morgan Stanley during the first quarter worth approximately $2,500,000. Finally, Investec Asset Management North America Inc. boosted its stake in shares of Morgan Stanley by 40.1% in the first quarter. Investec Asset Management North America Inc. now owns 36,801 shares of the financial services provider’s stock worth $920,000 after buying an additional 10,538 shares during the last quarter. 83.64% of the stock is owned by hedge funds and other institutional investors.

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