Morningstar, Inc. $MORN Shares Acquired by QRG Capital Management Inc.

QRG Capital Management Inc. lifted its holdings in shares of Morningstar, Inc. (NASDAQ:MORN) by 12.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,181 shares of the business services provider’s stock after buying an additional 132 shares during the period. QRG Capital Management Inc.’s holdings in Morningstar were worth $371,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Hughes Financial Services LLC acquired a new stake in shares of Morningstar during the first quarter worth about $25,000. Larson Financial Group LLC boosted its stake 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 worth $46,000 after buying an additional 152 shares during the period. MAI Capital Management boosted its stake 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 worth $46,000 after buying an additional 42 shares during the period. Blue Trust Inc. boosted its stake in shares of Morningstar by 172.3% during the first quarter. Blue Trust Inc. now owns 177 shares of the business services provider’s stock worth $53,000 after buying an additional 112 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Morningstar by 23.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 178 shares of the business services provider’s stock worth $53,000 after buying an additional 34 shares during the period. Institutional investors and hedge funds own 57.02% of the company’s stock.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Wall Street Zen downgraded shares of Morningstar from a “buy” rating to a “hold” rating in a research report on Saturday, July 5th. Weiss Ratings restated a “hold (c)” rating on shares of Morningstar in a research report on Wednesday. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Morningstar currently has an average rating of “Moderate Buy” and an average price target of $355.00.

Morningstar Price Performance

MORN stock opened at $225.34 on Friday. The firm has a 50 day moving average of $249.02 and a 200-day moving average of $278.54. Morningstar, Inc. has a 12-month low of $221.02 and a 12-month high of $365.00. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.52. The company has a market cap of $9.50 billion, a price-to-earnings ratio of 24.00 and a beta of 1.00.

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 analysts’ consensus estimates of $2.21 by $0.19. Morningstar had a net margin of 17.22% and a return on equity of 23.54%. The business had revenue of $605.10 million during the quarter, compared to analysts’ expectations of $605.84 million.

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.