Blair William & Co. IL Lowers Holdings in Morningstar, Inc. $MORN

Blair William & Co. IL decreased its position in Morningstar, Inc. (NASDAQ:MORN) by 30.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,896 shares of the business services provider’s stock after selling 1,250 shares during the period. Blair William & Co. IL’s holdings in Morningstar were worth $909,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. US Bancorp DE boosted its holdings in shares of Morningstar by 0.7% in the second quarter. US Bancorp DE now owns 7,972 shares of the business services provider’s stock valued at $2,503,000 after purchasing an additional 58 shares during the period. KLP Kapitalforvaltning AS boosted its holdings in shares of Morningstar by 1.8% in the second quarter. KLP Kapitalforvaltning AS now owns 5,800 shares of the business services provider’s stock valued at $1,821,000 after purchasing an additional 100 shares during the period. Marks Group Wealth Management Inc boosted its holdings in shares of Morningstar by 0.6% in the second quarter. Marks Group Wealth Management Inc now owns 25,978 shares of the business services provider’s stock valued at $8,155,000 after purchasing an additional 157 shares during the period. 111 Capital boosted its holdings in shares of Morningstar by 110.7% in the second quarter. 111 Capital now owns 2,440 shares of the business services provider’s stock valued at $766,000 after purchasing an additional 1,282 shares during the period. Finally, QRG Capital Management Inc. boosted its holdings in shares of Morningstar by 12.6% in the second quarter. QRG Capital Management Inc. now owns 1,181 shares of the business services provider’s stock valued at $371,000 after purchasing an additional 132 shares during the period. Hedge funds and other institutional investors own 57.02% of the company’s stock.

Morningstar Stock Performance

Shares of MORN stock opened at $210.71 on Friday. The business’s fifty day simple moving average is $245.60 and its 200-day simple moving average is $276.50. The company has a market cap of $8.89 billion, a PE ratio of 22.44 and a beta of 1.00. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.52. Morningstar, Inc. has a 12-month low of $210.02 and a 12-month high of $365.00.

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

Insider Activity

In related news, Chairman Joseph D. Mansueto sold 7,250 shares of the company’s stock in a transaction 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 directly owned 9,373,175 shares of the company’s stock, valued at $2,404,219,387.50. This represents a 0.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders sold 85,500 shares of company stock valued at $22,341,957. 36.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

MORN has been the subject of a number of research reports. Wall Street Zen lowered Morningstar from a “buy” rating to a “hold” rating in a report on Saturday, July 5th. Weiss Ratings restated a “hold (c)” rating on shares of Morningstar in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Morningstar currently has a consensus rating of “Moderate Buy” and an average price target of $355.00.

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.