Bank of New York Mellon Corp Has $62.34 Million Stock Holdings in Morningstar, Inc. $MORN

Bank of New York Mellon Corp trimmed its holdings in Morningstar, Inc. (NASDAQ:MORN) by 26.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 198,589 shares of the business services provider’s stock after selling 71,588 shares during the period. Bank of New York Mellon Corp owned about 0.47% of Morningstar worth $62,343,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Morningstar by 23.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 178 shares of the business services provider’s stock worth $53,000 after acquiring an additional 34 shares during the last quarter. Ballentine Partners LLC increased its holdings in Morningstar by 3.4% during the 1st quarter. Ballentine Partners LLC now owns 1,290 shares of the business services provider’s stock worth $387,000 after purchasing an additional 42 shares in the last quarter. MAI Capital Management raised its stake in shares of Morningstar by 37.8% in the first quarter. MAI Capital Management now owns 153 shares of the business services provider’s stock worth $46,000 after purchasing an additional 42 shares during the last quarter. Compound Planning Inc. lifted its holdings in shares of Morningstar by 6.6% in the first quarter. Compound Planning Inc. now owns 777 shares of the business services provider’s stock valued at $233,000 after purchasing an additional 48 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Morningstar by 28.8% during the second quarter. Blue Trust Inc. now owns 228 shares of the business services provider’s stock valued at $72,000 after buying an additional 51 shares during the last quarter. 57.02% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Morningstar

In other news, Chairman Joseph D. Mansueto sold 7,250 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $256.50, for a total transaction of $1,859,625.00. Following the completion of the sale, the chairman owned 9,373,175 shares in the company, valued at $2,404,219,387.50. This trade represents a 0.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders have sold 78,600 shares of company stock worth $19,210,317. 36.20% of the stock is owned by corporate insiders.

Morningstar Trading Up 1.8%

Shares of Morningstar stock opened at $215.49 on Monday. The firm has a market cap of $8.86 billion, a PE ratio of 24.52 and a beta of 1.06. Morningstar, Inc. has a 1 year low of $202.89 and a 1 year high of $365.00. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a fifty day moving average price of $231.27 and a 200-day moving average price of $269.71.

Morningstar (NASDAQ:MORN) last issued its quarterly earnings results on Wednesday, October 29th. The business services provider reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.42 by $0.13. Morningstar had a net margin of 15.70% and a return on equity of 24.68%. The company had revenue of $617.40 million for the quarter, compared to the consensus estimate of $603.29 million.

Wall Street Analyst Weigh In

A number of research firms recently commented on MORN. Weiss Ratings reissued a “hold (c)” rating on shares of Morningstar in a research report on Wednesday, October 8th. UBS Group reduced their target price on shares of Morningstar from $350.00 to $320.00 and set a “buy” rating for the company in a research note on Thursday, October 30th. Finally, BMO Capital Markets set a $250.00 price target on shares of Morningstar in a research report on Thursday, October 30th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $285.00.

Morningstar Profile

Morningstar, Inc provides independent investment insights in the United States, Asia. Australia, Continental Europe, the United Kingdom, and internationally. The company operates in five segments: Morningstar Data and Analytics; PitchBook; Morningstar Wealth; Morningstar Credit; and Morningstar Retirement.