Various Metrics at Morgan Stanley Substantiate Our Long-Term Optimism
Narrow-moat Morgan Stanley’s strong second-quarter results and certain metrics substantiate our long-term optimism for the stock and belief that the company should trade closer to our fair value estimate of $36, approximately one times book value. The company reported earnings per diluted share of $0.75 on $8.9 billion of net revenue in the quarter. Similar to Goldman Sachs, this was Morgan Stanley’s best quarter out of the last four, as capital markets where relatively open and trading activity...Morgan Stanley is a financial holding company. Through its subsidiaries and affiliates, the company advises, and originates, trades, manages and distributes capital for, governments, institutions and individuals. The company's segments are: Institutional Securities, which provides investment banking, sales and trading, lending and other services; Wealth Management, which provides brokerage and investment advisory services, financial and wealth planning services, stock plan administration services, annuity and insurance products, residential real estate loans and other lending products, banking, and retirement plan services; and Investment Management, which provides investment strategies and products.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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