Morningstar, Inc. $MORN Shares Acquired by Parallel Advisors LLC

Parallel Advisors LLC grew its holdings in Morningstar, Inc. (NASDAQ:MORN) by 12.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,327 shares of the business services provider’s stock after buying an additional 146 shares during the period. Parallel Advisors LLC’s holdings in Morningstar were worth $417,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its position in shares of Morningstar by 9.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,802 shares of the business services provider’s stock valued at $540,000 after buying an additional 159 shares during the last quarter. Royal Bank of Canada increased its position in Morningstar by 106.8% during the first quarter. Royal Bank of Canada now owns 37,089 shares of the business services provider’s stock worth $11,121,000 after purchasing an additional 19,155 shares during the last quarter. Envestnet Asset Management Inc. increased its position in Morningstar by 12.9% during the first quarter. Envestnet Asset Management Inc. now owns 106,294 shares of the business services provider’s stock worth $31,874,000 after purchasing an additional 12,159 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in Morningstar during the first quarter worth about $649,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Morningstar by 11.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 109,257 shares of the business services provider’s stock worth $32,763,000 after purchasing an additional 10,920 shares during the last quarter. 57.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Morningstar Stock Up 0.6%

Shares of Morningstar stock opened at $235.16 on Friday. Morningstar, Inc. has a 52-week low of $230.86 and a 52-week high of $365.00. The company has a 50 day moving average of $264.94 and a 200 day moving average of $285.10. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $9.92 billion, a P/E ratio of 25.04 and a beta of 1.01.

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

Insider Buying and Selling at Morningstar

In other news, Chairman Joseph D. Mansueto sold 6,705 shares of the business’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $260.65, for a total transaction of $1,747,658.25. Following the completion of the sale, the chairman owned 9,312,836 shares in the company, valued at approximately $2,427,390,703.40. The trade was a 0.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders have sold 85,500 shares of company stock worth $22,341,957. 36.20% of the stock is currently owned by insiders.

About Morningstar

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.