JPMorgan Investment Management, I recently announced the acquisition of new stake in Morgan Stanley (NYSE:MS). The institutional investor has increased its shareholding in the Financial company by 4.82% to 39.41 million shares with purchase of 1.81 million shares. This fresh investment now brings its stake to 2.40% valued currently at $3.13 billion.
With over 6.73 million Morgan Stanley (MS) shares trading Monday and a closing price of $93.51 on the day, the dollar volume was approximately $629.24 million. The shares have shown a positive half year performance of 12.12% and its price on 01/08/24 gained nearly 0.29%. Currently, there are 1.68B common shares owned by the public and among those 1.26B shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 26 analysts who have offered their price forecasts for MS have a consensus price objective of $93.17. The analysts have set the share’s price value over the next 12 months at a high of $116.00 and a low of $73.60. The average price target is -0.36% below its recent price level and a downside to the estimated low will see the stock lose -27.05% over that period. But an upside of 19.39% will see the stock hit the forecast high price target while median target price for the stock is $94.00.
Insiders at the company have transacted a total of 88 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 35 of these insider trades were purchases, accounting for 1,550,735 shares. Insider sales of the common stock occurred on 53 occasions, with total insider shares sold totaling 1,792,470 shares.
The top 3 mutual fund holders in Morgan Stanley are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Fidelity 500 Index Fund. Vanguard Total Stock Market ETF owns 38.94 million shares of the company’s stock, all valued at over $3.09 billion. The company bought an additional 46371.0 shares recently to bring their total holdings to about 2.37% of the shares outstanding. Vanguard 500 Index Fund bought 0.15 million shares to see its total holdings expand to 30.81 million shares valued at over $2.44 billion and representing 1.88% of the shares outstanding. Fidelity 500 Index Fund bought 94610.0 shares to bring its total holdings to over 14.87 million shares at a value of $1.18 billion. Fidelity 500 Index Fund now owns shares totaling to 0.91% of the shares outstanding.
Shares of Morgan Stanley (NYSE: MS) opened at $93.21, down -$0.03 from a prior closing price of $93.24. However, the script later moved the day high at 93.83, up 0.29%. The company’s stock has a 5-day price change of 0.28% and 16.41% over the past three months. MS shares are trading 0.28% year to date (YTD), with the 12-month market performance up to 8.83% higher. It has a 12-month low price of $69.42 and touched a high of $100.99 over the same period. MS has an average intraday trading volume of 8.91 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.86%, 14.14%, and 10.86% respectively.
Institutional ownership of Morgan Stanley (NYSE: MS) shares accounts for 62.11% of the company’s 1.68B shares outstanding. Mutual fund holders own 28.62%, while other institutional holders and individual stakeholders account for 33.99% and 27.07% respectively.
It has a market capitalization of $153.48B and a beta (3y monthly) value of 1.43. The stock’s trailing 12-month PE ratio is 16.75, while the earnings-per-share (ttm) stands at $5.58. The company has a PEG of 2.09 and the debt-to-equity ratio at 3.49. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.90% over the week and 1.79% over the month.
Analysts forecast that Morgan Stanley (MS) will achieve an EPS of $1.13 for the current quarter, $1.71 for the next quarter and $6.6 for 2024. The lowest estimate earnings-per-share for the quarter is $0.93 while analysts give the company a high EPS estimate of $1.43. Comparatively, EPS for the current quarter was $1.26 a year ago. Earnings per share for the fiscal year are expected to decrease by -13.15%, and 18.64% over the next financial year. EPS should shrink at an annualized rate of 8.00% over the next five years, compared to 14.93% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 26 brokerage firm advisors rate Morgan Stanley (MS) as a “Moderate Buy” at a consensus score of 2.23. Specifically, 9 Wall Street analysts polled rate the stock as a buy, while 15 of the 26 advise that investors “hold,” and 0 rated it as a “Sell.”
