Granite Group Advisors LLC Acquires 1,975 Shares of Morgan Stanley $MS

Key Points

• Granite Group Advisors LLC increased its stake in Morgan Stanley by 12.2%, acquiring an additional 1,975 shares to bring its total holdings to 18,180 shares, valued at approximately $2.56 million.
• Insider Charles A. Smith sold 20,000 shares recently, leading to a 14.36% decrease in his ownership, while 148,149 shares were sold by various insiders over the last 90 days.
• A number of equities analysts recently upgraded their ratings for Morgan Stanley, with target prices ranging from $160.00 to $180.00, reflecting positive market sentiment towards the stock.

Granite Group Advisors LLC increased its holdings in shares of Morgan Stanley (NYSE:MS - Free Report) by 12.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,180 shares of the financial services provider's stock after purchasing an additional 1,975 shares during the quarter. Morgan Stanley makes up about 1.5% of Granite Group Advisors LLC's investment portfolio, making the stock its 11th biggest holding. Granite Group Advisors LLC's holdings in Morgan Stanley were worth $2,561,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MS. Meridian Wealth Management LLC increased its position in shares of Morgan Stanley by 34.3% in the first quarter. Meridian Wealth Management LLC now owns 23,869 shares of the financial services provider's stock valued at $2,785,000 after acquiring an additional 6,092 shares during the last quarter. Headlands Technologies LLC bought a new position in Morgan Stanley in the first quarter valued at approximately $57,000. AGF Management Ltd. grew its stake in Morgan Stanley by 55.9% in the first quarter. AGF Management Ltd. now owns 327,978 shares of the financial services provider's stock valued at $38,265,000 after purchasing an additional 117,615 shares in the last quarter. Tlwm increased its position in shares of Morgan Stanley by 1.8% during the 1st quarter. Tlwm now owns 13,863 shares of the financial services provider's stock worth $1,617,000 after purchasing an additional 248 shares during the last quarter. Finally, Alley Investment Management Company LLC raised its stake in shares of Morgan Stanley by 75.0% during the 1st quarter. Alley Investment Management Company LLC now owns 62,469 shares of the financial services provider's stock worth $7,288,000 after purchasing an additional 26,763 shares in the last quarter. 84.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Morgan Stanley

In related news, insider Charles A. Smith sold 20,000 shares of the company's stock in a transaction dated Thursday, July 17th. The shares were sold at an average price of $140.30, for a total value of $2,806,000.00. Following the transaction, the insider directly owned 119,239 shares in the company, valued at approximately $16,729,231.70. This represents a 14.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Daniel A. Simkowitz sold 29,000 shares of the firm's stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $141.13, for a total transaction of $4,092,770.00. Following the transaction, the insider directly owned 399,105 shares in the company, valued at approximately $56,325,688.65. This represents a 6.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 148,149 shares of company stock worth $20,841,628 in the last 90 days. Company insiders own 0.19% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods upgraded shares of Morgan Stanley from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $127.00 to $160.00 in a report on Wednesday, July 9th. UBS Group boosted their price objective on shares of Morgan Stanley from $156.00 to $165.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 7th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Morgan Stanley in a research note on Wednesday, October 8th. Evercore ISI lifted their price target on Morgan Stanley from $150.00 to $165.00 and gave the stock an "outperform" rating in a report on Tuesday, September 30th. Finally, BMO Capital Markets began coverage on Morgan Stanley in a research note on Friday, October 3rd. They issued an "outperform" rating and a $180.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $154.85.

Morgan Stanley Stock Up 0.1%

Shares of MS opened at $155.29 on Wednesday. The firm has a market cap of $247.90 billion, a P/E ratio of 17.59, a price-to-earnings-growth ratio of 1.81 and a beta of 1.32. The company has a debt-to-equity ratio of 3.30, a quick ratio of 0.78 and a current ratio of 0.78. Morgan Stanley has a 52 week low of $94.33 and a 52 week high of $163.98. The firm's 50-day simple moving average is $152.19 and its 200 day simple moving average is $136.21.

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

Morgan Stanley declared that its Board of Directors has initiated a share buyback program on Tuesday, July 1st that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the financial services provider to buy up to 8.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its stock is undervalued.

Morgan Stanley Profile

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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