Citigroup Increases Morgan Stanley (NYSE:MS) Price Target to $155.00

Key Points

• Citigroup has increased Morgan Stanley's price target from $130.00 to $155.00, reflecting a neutral rating despite the potential downside from the stock's previous close.
• Other analysts have also adjusted their price targets, with Keefe, Bruyette & Woods setting a target of $160.00 and Wells Fargo raising theirs to $165.00.
• Morgan Stanley recently reported earnings that exceeded expectations, with a net margin of 13.06% and 11.8% year-over-year revenue growth, prompting a stock buyback authorization of $20.00 billion.

Morgan Stanley (NYSE:MS - Get Free Report) had its price target increased by Citigroup from $130.00 to $155.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the financial services provider's stock. Citigroup's price objective indicates a potential downside of 2.49% from the stock's previous close.

A number of other equities analysts have also issued reports on MS. Keefe, Bruyette & Woods raised Morgan Stanley from a "market perform" rating to an "outperform" rating and increased their price objective for the stock from $127.00 to $160.00 in a report on Wednesday, July 9th. The Goldman Sachs Group boosted 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. Finally, Wells Fargo & Company raised their price target on Morgan Stanley from $145.00 to $165.00 and gave the company an "equal weight" rating in a report on Tuesday, September 16th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $142.00.

Morgan Stanley Trading Up 0.7%

Shares of NYSE:MS opened at $158.96 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 3.30. The company's 50-day moving average price is $148.28 and its 200 day moving average price is $132.63. The company has a market cap of $253.75 billion, a PE ratio of 18.00, a P/E/G ratio of 1.96 and a beta of 1.33. Morgan Stanley has a fifty-two week low of $94.33 and a fifty-two week high of $163.98.

Morgan Stanley (NYSE:MS - Get Free Report) last posted its earnings results on Wednesday, July 16th. The financial services provider reported $2.13 EPS for the quarter, topping the consensus estimate of $1.98 by $0.15. Morgan Stanley had a net margin of 13.06% and a return on equity of 15.20%. The firm had revenue of $16.79 billion during the quarter, compared to analysts' expectations of $16.15 billion. During the same quarter in the prior year, the firm earned $1.82 EPS. Morgan Stanley's quarterly revenue was up 11.8% on a year-over-year basis. Sell-side analysts anticipate that Morgan Stanley will post 8.56 earnings per share for the current year.

Morgan Stanley declared that its Board of Directors has authorized a stock buyback plan on Tuesday, July 1st that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 8.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

Insider Activity

In other news, CFO Sharon Yeshaya sold 25,583 shares of Morgan Stanley stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $139.81, for a total value of $3,576,759.23. Following the transaction, the chief financial officer owned 128,662 shares of the company's stock, valued at $17,988,234.22. The trade was a 16.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Michael A. Pizzi sold 18,000 shares of the business's stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $140.62, for a total transaction of $2,531,160.00. Following the completion of the sale, the insider owned 136,407 shares in the company, valued at $19,181,552.34. The trade was a 11.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 148,149 shares of company stock valued at $20,841,628 over the last quarter. Insiders own 0.19% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MS. Vanguard Group Inc. raised its position in shares of Morgan Stanley by 1.1% during the second quarter. Vanguard Group Inc. now owns 119,123,487 shares of the financial services provider's stock worth $16,779,734,000 after purchasing an additional 1,354,142 shares during the period. Fisher Asset Management LLC increased its position in shares of Morgan Stanley by 3.2% in the second quarter. Fisher Asset Management LLC now owns 24,045,186 shares of the financial services provider's stock worth $3,387,005,000 after acquiring an additional 749,150 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Morgan Stanley by 21.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 17,056,916 shares of the financial services provider's stock worth $1,990,030,000 after purchasing an additional 2,989,122 shares in the last quarter. Norges Bank acquired a new stake in Morgan Stanley during the 2nd quarter valued at $2,234,883,000. Finally, Northern Trust Corp lifted its holdings in shares of Morgan Stanley by 3.0% in the first quarter. Northern Trust Corp now owns 13,807,153 shares of the financial services provider's stock valued at $1,610,881,000 after purchasing an additional 403,956 shares in the last quarter. Institutional investors own 84.19% of the company's stock.

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.