Morningstar, Inc. $MORN Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC trimmed its position in Morningstar, Inc. (NASDAQ:MORN) by 64.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 9,920 shares of the business services provider’s stock after selling 17,774 shares during the quarter. Hsbc Holdings PLC’s holdings in Morningstar were worth $2,155,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Wellington Management Group LLP increased its position in Morningstar by 85.4% during the 4th quarter. Wellington Management Group LLP now owns 1,136,213 shares of the business services provider’s stock worth $246,910,000 after purchasing an additional 523,387 shares in the last quarter. AQR Capital Management LLC raised its holdings in Morningstar by 106.9% in the third quarter. AQR Capital Management LLC now owns 608,244 shares of the business services provider’s stock valued at $141,119,000 after buying an additional 314,275 shares during the period. Norges Bank acquired a new position in Morningstar during the fourth quarter valued at approximately $62,367,000. Corient Private Wealth LLC lifted its position in Morningstar by 1,196.5% during the fourth quarter. Corient Private Wealth LLC now owns 260,978 shares of the business services provider’s stock valued at $56,713,000 after buying an additional 240,848 shares in the last quarter. Finally, Voloridge Investment Management LLC grew its stake in Morningstar by 362.8% during the third quarter. Voloridge Investment Management LLC now owns 187,128 shares of the business services provider’s stock worth $43,416,000 after buying an additional 146,693 shares during the period. Hedge funds and other institutional investors own 57.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MORN. Rothschild & Co Redburn set a $210.00 price objective on shares of Morningstar in a research report on Thursday, June 18th. Weiss Ratings cut shares of Morningstar from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, June 24th. Wall Street Zen upgraded Morningstar from a “hold” rating to a “buy” rating in a report on Sunday, June 21st. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $212.00 price target on shares of Morningstar in a report on Friday. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $234.00.

Insider Buying and Selling

In other news, Chairman Joseph D. Mansueto sold 7,250 shares of Morningstar stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $166.23, for a total value of $1,205,167.50. Following the completion of the transaction, the chairman owned 8,114,492 shares in the company, valued at approximately $1,348,872,005.16. This trade represents a 0.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 64,720 shares of company stock worth $11,169,471. Company insiders own 38.80% of the company’s stock.

Morningstar Stock Performance

Shares of Morningstar stock opened at $155.85 on Tuesday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.03 and a current ratio of 1.03. Morningstar, Inc. has a 1 year low of $141.49 and a 1 year high of $316.71. The firm’s 50-day simple moving average is $173.98 and its 200-day simple moving average is $184.22. The firm has a market cap of $5.93 billion, a PE ratio of 15.87 and a beta of 1.00.

Morningstar (NASDAQ:MORN) last posted its quarterly earnings results on Wednesday, April 29th. The business services provider reported $3.18 EPS for the quarter, topping analysts’ consensus estimates of $2.41 by $0.77. The business had revenue of $644.80 million during the quarter, compared to the consensus estimate of $626.91 million. Morningstar had a return on equity of 33.14% and a net margin of 16.06%.

Morningstar Company Profile

Morningstar, Inc is a leading provider of independent investment research, data, and analytics, serving both individual investors and financial professionals. The company offers comprehensive coverage of financial products, including mutual funds, exchange-traded funds (ETFs), stocks, bonds and market indexes. Morningstar’s proprietary rating systems and research methodologies help clients assess the risk and return profiles of investment opportunities and make informed decisions.

Its core products include Morningstar Direct, an institutional investment analysis platform; Morningstar Office Cloud, a portfolio management solution for advisors; and Morningstar Data, which delivers extensive datasets through APIs and data feeds.