Dearborn Partners LLC purchased a new position in Morningstar, Inc. (NASDAQ:MORN – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 8,465 shares of the business services provider’s stock, valued at approximately $1,321,000.
A number of other hedge funds have also recently made changes to their positions in MORN. Bamco Inc. NY bought a new stake in Morningstar during the second quarter valued at about $545,937,000. BlackRock Inc. purchased a new stake in shares of Morningstar during the second quarter valued at about $324,792,000. Wellington Management Group LLP grew its position in shares of Morningstar by 85.4% in the 4th quarter. Wellington Management Group LLP now owns 1,136,213 shares of the business services provider’s stock worth $246,910,000 after buying an additional 523,387 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Morningstar by 106.9% during the 3rd quarter. AQR Capital Management LLC now owns 608,244 shares of the business services provider’s stock worth $141,119,000 after acquiring an additional 314,275 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Morningstar during the 4th quarter worth approximately $62,367,000. 57.02% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on the stock. Rothschild & Co Redburn set a $210.00 target price on shares of Morningstar in a research note on Thursday, June 18th. Wall Street Zen upgraded shares of Morningstar from a “hold” rating to a “buy” rating in a research note on Sunday, June 21st. BMO Capital Markets reissued an “outperform” rating and set a $212.00 target price on shares of Morningstar in a research report on Friday, June 26th. Weiss Ratings upgraded shares of Morningstar from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, August 14th. Finally, UBS Group decreased their price target on shares of Morningstar from $280.00 to $260.00 and set a “buy” rating for the company in a report on Tuesday, July 7th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Morningstar presently has an average rating of “Moderate Buy” and a consensus target price of $227.33.
Insider Buying and Selling
In other news, Chairman Joseph D. Mansueto sold 5,659 shares of the company’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $218.84, for a total value of $1,238,415.56. Following the sale, the chairman directly owned 7,938,192 shares of the company’s stock, valued at $1,737,193,937.28. This represents a 0.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 86,500 shares of company stock worth $17,824,451. Insiders own 38.80% of the company’s stock.
Morningstar Stock Up 3.0%
Morningstar stock opened at $218.81 on Friday. The business’s 50-day simple moving average is $182.94 and its two-hundred day simple moving average is $177.70. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.06 and a current ratio of 1.06. The company has a market cap of $8.21 billion, a PE ratio of 20.72 and a beta of 0.99. Morningstar, Inc. has a fifty-two week low of $141.49 and a fifty-two week high of $265.31.
Morningstar (NASDAQ:MORN – Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The business services provider reported $3.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.27. Morningstar had a return on equity of 38.57% and a net margin of 16.43%.The firm had revenue of $663.20 million during the quarter, compared to analysts’ expectations of $649.72 million.
Morningstar Profile
Morningstar, Inc is a leading provider of independent investment research, data, and analytics, serving both individual investors and financial professionals. The company offers comprehensive coverage of financial products, including mutual funds, exchange-traded funds (ETFs), stocks, bonds and market indexes. Morningstar’s proprietary rating systems and research methodologies help clients assess the risk and return profiles of investment opportunities and make informed decisions.
Its core products include Morningstar Direct, an institutional investment analysis platform; Morningstar Office Cloud, a portfolio management solution for advisors; and Morningstar Data, which delivers extensive datasets through APIs and data feeds.
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