Morningstar, Inc. $MORN Shares Purchased by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc raised its stake in Morningstar, Inc. (NASDAQ:MORN) by 0.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,978 shares of the business services provider’s stock after acquiring an additional 157 shares during the period. Marks Group Wealth Management Inc owned 0.06% of Morningstar worth $8,155,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Millennium Management LLC boosted its position in shares of Morningstar by 88.0% in the 1st quarter. Millennium Management LLC now owns 540,795 shares of the business services provider’s stock valued at $162,168,000 after purchasing an additional 253,137 shares during the period. Nuveen LLC purchased a new stake in Morningstar in the first quarter valued at approximately $38,269,000. Assenagon Asset Management S.A. purchased a new stake in Morningstar in the second quarter valued at approximately $33,098,000. Panagora Asset Management Inc. lifted its stake in Morningstar by 4,970.8% in the first quarter. Panagora Asset Management Inc. now owns 56,692 shares of the business services provider’s stock valued at $17,000,000 after buying an additional 55,574 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its holdings in shares of Morningstar by 688.9% in the 1st quarter. Cubist Systematic Strategies LLC now owns 45,055 shares of the business services provider’s stock valued at $13,511,000 after acquiring an additional 39,344 shares during the period. Institutional investors and hedge funds own 57.02% of the company’s stock.

Morningstar Stock Performance

NASDAQ:MORN opened at $226.12 on Monday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.52. Morningstar, Inc. has a fifty-two week low of $222.71 and a fifty-two week high of $365.00. The stock has a market cap of $9.54 billion, a PE ratio of 24.08 and a beta of 1.00. The firm’s fifty day simple moving average is $254.47 and its 200-day simple moving average is $281.03.

Morningstar (NASDAQ:MORN) last posted its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $605.84 million.

Analyst Ratings Changes

MORN has been the subject of a number of recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Morningstar in a research note on Saturday, September 27th. Wall Street Zen cut shares of 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 two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $361.67.

Insider Transactions at Morningstar

In other Morningstar news, Chairman Joseph D. Mansueto sold 7,250 shares of Morningstar stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $256.50, for a total transaction of $1,859,625.00. Following the completion of the transaction, the chairman owned 9,373,175 shares in the company, valued at approximately $2,404,219,387.50. The trade was a 0.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 85,500 shares of company stock worth $22,341,957 in the last ninety days. Insiders own 36.20% of the company’s stock.

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.