Revenue from equities trading, a business in which Morgan Stanley is typically strong, remained flat at $1.9 billion. The fund owned 160,244 shares of the financial services provider's stock after buying an additional 100,182 shares during the quarter.
Shares briefly rose more than 2 percent in premarket trading.
Other institutional investors also recently made changes to their positions in the company. The Company's Wealth Management business segment provides an array of financial services and solutions to individual investors and small-to-medium sized businesses and institutions covering brokerage and investment advisory services, market-making activities in fixed income securities, financial and wealth planning services, annuity and insurance products, credit and other lending products, banking and retirement plan services. Davidson Investment Advisors now owns 291,525 shares of the financial services provider's stock worth $12,486,000 after purchasing an additional 7,462 shares during the period.
Morgan Stanley's fixed-income desk outperformed Goldman's in both this year's first and second quarters. Savant Capital LLC now owns 9,677 shares of the financial services provider's stock valued at $415,000 after acquiring an additional 77 shares during the period.
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Morgan Stanley reported an 8.7% increase in wealth management revenue, which now makes up almost half of the firm's total. M Holdings Securities Inc. grew its stake in Morgan Stanley by 1.6% in the 1st quarter. LLC grew its stake in Morgan Stanley by 0.4% in the 2nd quarter.
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MS has been the topic of several recent analyst reports. J P Morgan Chase & Co reaffirmed a "buy" rating and set a $53.00 price objective on shares of Morgan Stanley in a research note on Monday, June 26th.
01/11/2017 - Morgan Stanley had its "equal weight" rating reiterated by analysts at Barclays. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. $19.35's average target is 58.22% above currents $12.23 stock price.
Cohen Klingenstein Limited Liability holds 0.24% of its portfolio in Morgan Stanley (NYSE:MS) for 31,400 shares. Over the last five days, shares have faced -2.93% losses and now is up 7.81% since hitting its 200-day moving average of $45.01. Morgan Stanley now has $89.28 billion valuation.
Morgan Stanley (MS) surprised the stock market in its last reported earnings when it earned $0.87 a piece versus the consensus-estimated $0.76. The firm reported earnings of 93 cents per share on $9.2 billion in revenue, compared to the consensus estimates of 81 cents per share on $9 billion in revenue.
Morgan Stanley has been homing in on its year-end target of 9% to 11% return on equity.
Revenue from the bank's wealth business rose 8.7 percent to $4.22 billion (£3.2 billion) and generated pretax margin of 26.5 percent, above Chief Executive James Gorman's target range of 23-25 percent. During the same quarter in the prior year, the firm posted $0.75 EPS. The firm's revenue for the quarter was up 6.7% compared to the same quarter past year. Analysts have placed a $50.21 price target on Morgan Stanley, suggesting a 3.95% gain from recent close. This repurchase authorization authorizes the financial services provider to reacquire up to 6.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its shares are undervalued.