Lord, Abbett Reduces $31M in Morgan Stanley ($MS)
Key Points
- Lord, Abbett changed its Morgan Stanley ($MS) stake by 6.4% last quarter, cutting to 2,150,577 shares worth $457.34 million.
- Wall Street's consensus rating on $MS is Buy and an average price target of $203.67.
- $MS last traded around $212.66.
Lord, Abbett trimmed its position in Morgan Stanley ($MS) by 6.4% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,150,577 shares of Morgan Stanley after selling 147,427 shares during the quarter. Lord, Abbett's holdings in Morgan Stanley were worth $457.34 million as of its most recent filing.
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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, Asia, Europe, the Middle East, and Africa. It operates through Institutional Securities, Wealth Management, and Investment Management segments. The company offers capital raising and financial advisory services, including services related to the underwriting of debt, equity securities, and other products, as well as advice on mergers and acquisitions, restructurings, and project finance. It also provides equity and fixed income products comprising sales, financing, prime brokerage, and market-making services; Asia wealth management; business-related investments services; originating corporate and commercial real estate loans, secured lending facilities, and extending securities-based and other financing; and research activities. In addition, the company offers financial advisor-led brokerage, investment advisory, custody, cash management, and administrative services; self-directed brokerage services; financial and wealth planning services; stock plan administration; securities-based lending, residential real estate loans, and other lending products; banking; and retirement plan services. Further, it provides equity, fixed income, alternatives and solutions, and liquidity and overlay services to benefit/defined contribution plans, foundations, endowments, government entities, sovereign wealth funds, insurance companies, third-party fund sponsors, corporations, and individuals. Morgan Stanley was founded in 1924 and is headquartered in New York, New York.
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