Fifth Third Bancorp Sells 58 Shares of Morningstar, Inc. $MORN

Fifth Third Bancorp decreased its holdings in shares of Morningstar, Inc. (NASDAQ:MORN) by 14.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 341 shares of the business services provider’s stock after selling 58 shares during the quarter. Fifth Third Bancorp’s holdings in Morningstar were worth $107,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Millennium Management LLC raised its stake in Morningstar by 88.0% during the first quarter. Millennium Management LLC now owns 540,795 shares of the business services provider’s stock worth $162,168,000 after acquiring an additional 253,137 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Morningstar by 1.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 196,465 shares of the business services provider’s stock worth $58,914,000 after acquiring an additional 2,270 shares in the last quarter. Premier Fund Managers Ltd increased its stake in shares of Morningstar by 13.4% in the first quarter. Premier Fund Managers Ltd now owns 170,068 shares of the business services provider’s stock valued at $50,341,000 after buying an additional 20,068 shares during the period. GAMMA Investing LLC increased its stake in shares of Morningstar by 30,785.9% in the first quarter. GAMMA Investing LLC now owns 144,237 shares of the business services provider’s stock valued at $43,252,000 after buying an additional 143,770 shares during the period. Finally, Nuveen LLC acquired a new position in shares of Morningstar in the first quarter valued at approximately $38,269,000. Institutional investors and hedge funds own 57.02% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other Morningstar news, Chairman Joseph D. Mansueto sold 6,705 shares of the 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 of the company’s stock, valued at approximately $2,427,390,703.40. This represents a 0.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders have sold 85,500 shares of company stock worth $22,341,957. Corporate insiders own 36.20% of the company’s stock.

Morningstar Stock Performance

NASDAQ:MORN opened at $227.02 on Thursday. The company has a market capitalization of $9.58 billion, a PE ratio of 24.18 and a beta of 1.00. The company has a 50 day simple moving average of $256.55 and a two-hundred day simple moving average of $282.14. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.13 and a current ratio of 1.13. Morningstar, Inc. has a fifty-two week low of $226.26 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 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%.

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.