Truist Financial Corp Has $1.33 Million Stock Holdings in Morningstar, Inc. $MORN

Truist Financial Corp lessened its stake in shares of Morningstar, Inc. (NASDAQ:MORN) by 2.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,225 shares of the business services provider’s stock after selling 92 shares during the period. Truist Financial Corp’s holdings in Morningstar were worth $1,326,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Signaturefd LLC grew its holdings in Morningstar by 14.5% during the second quarter. Signaturefd LLC now owns 410 shares of the business services provider’s stock valued at $129,000 after purchasing an additional 52 shares during the last quarter. State of Alaska Department of Revenue boosted its position in shares of Morningstar by 15.2% in the second quarter. State of Alaska Department of Revenue now owns 17,557 shares of the business services provider’s stock valued at $5,511,000 after acquiring an additional 2,320 shares during the period. American National Bank & Trust bought a new stake in shares of Morningstar in the second quarter valued at approximately $57,000. Congress Asset Management Co. boosted its position in shares of Morningstar by 7.5% in the second quarter. Congress Asset Management Co. now owns 60,411 shares of the business services provider’s stock valued at $18,965,000 after acquiring an additional 4,195 shares during the period. Finally, Ballentine Partners LLC boosted its position in shares of Morningstar by 44.7% in the second quarter. Ballentine Partners LLC now owns 1,866 shares of the business services provider’s stock valued at $586,000 after acquiring an additional 576 shares during the period. Institutional investors and hedge funds own 57.02% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on MORN shares. Wall Street Zen cut Morningstar from a “buy” rating to a “hold” rating in a research report on Saturday, July 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Morningstar in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $355.00.

Insider Buying and Selling

In related news, Chairman Joseph D. Mansueto sold 7,250 shares of the firm’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $256.50, for a total value of $1,859,625.00. Following the completion of the transaction, the chairman directly owned 9,373,175 shares of the company’s stock, valued at $2,404,219,387.50. This trade represents a 0.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 85,500 shares of company stock valued at $22,341,957 over the last three months. 36.20% of the stock is owned by company insiders.

Morningstar Stock Down 0.7%

Shares of MORN stock opened at $225.34 on Monday. The stock has a market cap of $9.50 billion, a P/E ratio of 24.00 and a beta of 1.00. Morningstar, Inc. has a one year low of $221.02 and a one year high of $365.00. The stock has a fifty day moving average price of $249.02 and a 200 day moving average price of $278.38. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.13 and a quick ratio of 1.13.

Morningstar (NASDAQ:MORN) last issued its earnings results on Wednesday, July 30th. The business services provider reported $2.40 EPS for the quarter, topping the consensus estimate of $2.21 by $0.19. The firm had revenue of $605.10 million during the quarter, compared to analysts’ expectations of $605.84 million. Morningstar had a return on equity of 23.54% and a net margin of 17.22%.

Morningstar Company 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.