Morningstar, Inc. $MORN Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in Morningstar, Inc. (NASDAQ:MORN) by 10.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 61,984 shares of the business services provider’s stock after selling 7,242 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Morningstar were worth $9,671,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Bamco Inc. NY purchased a new position in Morningstar during the 2nd quarter valued at about $545,937,000. BlackRock Inc. purchased a new stake in shares of Morningstar in the second quarter valued at about $324,792,000. Wellington Management Group LLP grew its position in shares of Morningstar by 85.4% in the fourth quarter. Wellington Management Group LLP now owns 1,136,213 shares of the business services provider’s stock valued at $246,910,000 after purchasing an additional 523,387 shares during the last quarter. AQR Capital Management LLC grew its position in shares of 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 purchasing an additional 314,275 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Morningstar during the 4th quarter worth approximately $62,367,000. 57.02% of the stock is currently owned by hedge funds and other institutional investors.

Morningstar Stock Performance

NASDAQ:MORN opened at $209.40 on Monday. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a market cap of $7.85 billion, a PE ratio of 19.83 and a beta of 1.00. The firm has a 50 day simple moving average of $190.31 and a 200-day simple moving average of $180.00. Morningstar, Inc. has a 1-year low of $141.49 and a 1-year high of $261.37.

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

Insider Buying and Selling at Morningstar

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

Analysts Set New Price Targets

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

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.