Morningstar, Inc. $MORN Shares Purchased by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. increased its stake in Morningstar, Inc. (NASDAQ:MORN) by 2,895.6% in the third quarter, Holdings Channel reports. The firm owned 13,031 shares of the business services provider’s stock after purchasing an additional 12,596 shares during the period. TD Waterhouse Canada Inc.’s holdings in Morningstar were worth $2,491,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of MORN. Cassaday & Co Wealth Management LLC purchased a new stake in Morningstar during the 1st quarter worth approximately $26,000. Grove Bank & Trust acquired a new position in Morningstar during the 2nd quarter valued at approximately $25,000. Fortitude Family Office LLC raised its holdings in shares of Morningstar by 260.0% in the third quarter. Fortitude Family Office LLC now owns 234 shares of the business services provider’s stock worth $44,000 after buying an additional 169 shares during the last quarter. Global Retirement Partners LLC purchased a new position in shares of Morningstar in the second quarter worth $49,000. Finally, IFP Advisors Inc lifted its stake in shares of Morningstar by 45.2% during the second quarter. IFP Advisors Inc now owns 315 shares of the business services provider’s stock worth $49,000 after buying an additional 98 shares during the period. 57.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MORN has been the topic of a number of research analyst reports. UBS Group dropped their price objective on shares of Morningstar from $280.00 to $260.00 and set a “buy” rating on the stock in a report on Tuesday, July 7th. BMO Capital Markets upped their target price on Morningstar from $230.00 to $237.00 and gave the company an “outperform” rating in a research report on Tuesday, October 13th. Weiss Ratings upgraded Morningstar from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, October 9th. Finally, Wall Street Zen upgraded Morningstar from a “hold” rating to a “buy” rating in a research note on Saturday, September 26th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Morningstar presently has an average rating of “Moderate Buy” and an average price target of $235.67.

Insider Buying and Selling

In other news, Chairman Joseph Mansueto sold 5,659 shares of the company’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $218.84, for a total value of $1,238,415.56. Following the sale, the chairman directly owned 7,938,192 shares of the company’s stock, valued at $1,737,193,937.28. This represents a 0.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 86,500 shares of company stock worth $17,824,451. Insiders own 38.80% of the company’s stock.

Morningstar Trading Up 3.0%

Morningstar stock opened at $211.76 on Wednesday. The stock has a 50-day moving average price of $203.92 and a 200 day moving average price of $185.60. The company has a market capitalization of $7.94 billion, a price-to-earnings ratio of 20.05 and a beta of 1.02. Morningstar, Inc. has a 52 week low of $141.49 and a 52 week high of $223.79. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.66.

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, topping the consensus estimate of $2.83 by $0.27. Morningstar had a net margin of 16.43% and a return on equity of 38.57%. The company had revenue of $663.20 million for the quarter, compared to the consensus estimate of $649.72 million.

Morningstar Profile

Morningstar, Inc is a global provider of independent investment research, data, and financial technology. The company serves asset managers, financial advisors, institutions, retirement plans, and individual investors with information designed to support investment analysis and decision-making.

Its products and services include research and ratings on mutual funds, exchange-traded funds, stocks, bonds, and other investments; portfolio analysis and planning tools; investment-management and advisory services; and software and data solutions for financial professionals and institutions.