Integrated Wealth Concepts LLC Purchases Shares of 2,163 Morningstar, Inc. $MORN

Integrated Wealth Concepts LLC purchased a new stake in shares of Morningstar, Inc. (NASDAQ:MORN) in the first quarter, according to the company in its most recent filing with the SEC. The fund purchased 2,163 shares of the business services provider’s stock, valued at approximately $649,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Hughes Financial Services LLC purchased a new position in shares of Morningstar during the first quarter valued at approximately $25,000. Larson Financial Group LLC boosted its position in shares of Morningstar by 5,066.7% during the first quarter. Larson Financial Group LLC now owns 155 shares of the business services provider’s stock valued at $46,000 after buying an additional 152 shares during the last quarter. MAI Capital Management boosted its position in shares of Morningstar by 37.8% during the first quarter. MAI Capital Management now owns 153 shares of the business services provider’s stock valued at $46,000 after buying an additional 42 shares during the last quarter. Blue Trust Inc. boosted its holdings in Morningstar by 172.3% during the 1st quarter. Blue Trust Inc. now owns 177 shares of the business services provider’s stock worth $53,000 after acquiring an additional 112 shares during the last quarter. Finally, WPG Advisers LLC purchased a new position in Morningstar during the 1st quarter worth $73,000. Institutional investors and hedge funds own 57.02% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Joseph D. Mansueto sold 7,250 shares of the company’s stock in a transaction that occurred 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 transaction, the chairman owned 9,373,175 shares in the company, valued at approximately $2,404,219,387.50. This represents a 0.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 85,500 shares of company stock valued at $22,341,957 in the last quarter. 36.20% of the stock is currently owned by corporate insiders.

Morningstar Price Performance

Shares of NASDAQ:MORN opened at $257.14 on Friday. The company’s 50-day moving average is $270.70 and its 200 day moving average is $287.54. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.13 and a current ratio of 1.13. The company has a market capitalization of $10.85 billion, a P/E ratio of 27.38 and a beta of 1.01. Morningstar, Inc. has a fifty-two week low of $249.56 and a fifty-two week high of $365.00.

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

Analyst Ratings Changes

Separately, Wall Street Zen downgraded shares of Morningstar from a “buy” rating to a “hold” rating in a report on Saturday, July 5th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $361.67.

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.