27,422 Shares in Morningstar, Inc. $MORN Acquired by Legal & General Group Plc

Legal & General Group Plc bought a new position in shares of Morningstar, Inc. (NASDAQ:MORN) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 27,422 shares of the business services provider’s stock, valued at approximately $4,278,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in MORN. Osterweis Capital Management Inc. bought a new position in Morningstar during the second quarter valued at approximately $29,000. Measured Wealth Private Client Group LLC bought a new position in Morningstar during the 3rd quarter valued at approximately $26,000. Cassaday & Co Wealth Management LLC purchased a new stake in Morningstar in the first quarter worth $26,000. Grove Bank & Trust bought a new stake in Morningstar in the second quarter valued at $25,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Morningstar by 23.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 178 shares of the business services provider’s stock valued at $53,000 after purchasing an additional 34 shares during the period. Hedge funds and other institutional investors own 57.02% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on MORN. Wall Street Zen cut shares of Morningstar from a “buy” rating to a “hold” rating in a research report on Saturday, August 29th. Weiss Ratings raised shares of Morningstar from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, August 14th. UBS Group lowered their price objective on shares of Morningstar from $280.00 to $260.00 and set a “buy” rating for the company in a report on Tuesday, July 7th. Rothschild & Co Redburn set a $210.00 price objective on Morningstar in a research report on Thursday, June 18th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $212.00 target price on shares of Morningstar in a report on Friday, June 26th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Morningstar presently has a consensus rating of “Moderate Buy” and a consensus price target of $227.33.

Morningstar Stock Down 2.9%

Shares of NASDAQ:MORN opened at $209.40 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.66. The stock has a fifty day simple moving average of $190.31 and a two-hundred day simple moving average of $179.87. Morningstar, Inc. has a 12-month low of $141.49 and a 12-month high of $261.37. The stock has a market capitalization of $7.85 billion, a price-to-earnings ratio of 19.83 and a beta of 1.00.

Morningstar (NASDAQ:MORN) last issued its quarterly earnings results on Wednesday, July 29th. The business services provider reported $3.10 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.27. The firm had revenue of $663.20 million during the quarter, compared to the consensus estimate of $649.72 million. Morningstar had a return on equity of 38.57% and a net margin of 16.43%.

Insider Activity

In related news, Chairman Joseph Mansueto sold 7,906 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $210.26, for a total transaction of $1,662,315.56. Following the completion of the sale, the chairman owned 7,960,570 shares of the company’s stock, valued at $1,673,789,448.20. This trade represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 86,500 shares of company stock valued at $17,824,451 in the last 90 days. Corporate insiders own 38.80% of the company’s stock.

Morningstar 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.