Mutual of America Capital Management LLC Trims Stock Position in Morningstar, Inc. $MORN

Mutual of America Capital Management LLC cut its position in shares of Morningstar, Inc. (NASDAQ:MORN) by 4.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,237 shares of the business services provider’s stock after selling 667 shares during the period. Mutual of America Capital Management LLC’s holdings in Morningstar were worth $4,155,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Aspiriant LLC purchased a new position in Morningstar during the second quarter worth about $216,000. Nordea Investment Management AB increased its position in shares of Morningstar by 3.0% during the second quarter. Nordea Investment Management AB now owns 60,181 shares of the business services provider’s stock valued at $18,801,000 after acquiring an additional 1,755 shares during the last quarter. Barlow Wealth Partners Inc. increased its position in shares of Morningstar by 33.6% during the second quarter. Barlow Wealth Partners Inc. now owns 49,072 shares of the business services provider’s stock valued at $15,237,000 after acquiring an additional 12,350 shares during the last quarter. Allianz Asset Management GmbH acquired a new stake in shares of Morningstar during the second quarter valued at about $5,247,000. Finally, New York State Teachers Retirement System increased its position in shares of Morningstar by 1.7% during the second quarter. New York State Teachers Retirement System now owns 6,000 shares of the business services provider’s stock valued at $1,884,000 after acquiring an additional 100 shares during the last quarter. 57.02% of the stock is owned by hedge funds and other institutional investors.

Morningstar Trading Down 0.7%

NASDAQ MORN opened at $219.97 on Thursday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.52. Morningstar, Inc. has a 52 week low of $210.02 and a 52 week high of $365.00. The stock has a market capitalization of $9.28 billion, a PE ratio of 23.43 and a beta of 1.00. The firm has a 50 day moving average of $242.42 and a two-hundred day moving average of $274.51.

Morningstar (NASDAQ:MORN) last posted its quarterly 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. Morningstar had a net margin of 17.22% and a return on equity of 23.54%. The company had revenue of $605.10 million during the quarter, compared to analysts’ expectations of $605.84 million.

Insider Buying and Selling

In other Morningstar news, Chairman Joseph D. Mansueto sold 7,250 shares of the business’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 transaction, the chairman owned 9,373,175 shares in the company, valued at $2,404,219,387.50. The trade was a 0.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last ninety days, insiders have sold 85,500 shares of company stock worth $22,341,957. Insiders own 36.20% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.