Morningstar, Inc. $MORN Shares Bought by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership grew its holdings in shares of Morningstar, Inc. (NASDAQ:MORN) by 18.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 193,612 shares of the business services provider’s stock after acquiring an additional 30,676 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Morningstar were worth $60,781,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Norges Bank bought a new stake in Morningstar during the second quarter valued at $93,224,000. Millennium Management LLC raised its holdings in shares of Morningstar by 88.0% during the first quarter. Millennium Management LLC now owns 540,795 shares of the business services provider’s stock valued at $162,168,000 after buying an additional 253,137 shares during the last quarter. Nuveen LLC acquired a new position in Morningstar during the 1st quarter worth $38,269,000. Assenagon Asset Management S.A. bought a new position in Morningstar in the 2nd quarter valued at about $33,098,000. Finally, Schroder Investment Management Group raised its position in shares of Morningstar by 50.9% during the 2nd quarter. Schroder Investment Management Group now owns 166,898 shares of the business services provider’s stock worth $52,241,000 after buying an additional 56,328 shares in the last quarter. Institutional investors own 57.02% of the company’s stock.

Insider Activity at Morningstar

In other news, Chairman Joseph D. Mansueto sold 1,286 shares of the business’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $213.12, for a total transaction of $274,072.32. Following the transaction, the chairman directly owned 8,600,815 shares in the company, valued at $1,833,005,692.80. The trade was a 0.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 63,750 shares of company stock worth $13,537,223 in the last ninety days. Company insiders own 36.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MORN. UBS Group decreased their price objective on shares of Morningstar from $350.00 to $320.00 and set a “buy” rating for the company in a report on Thursday, October 30th. Weiss Ratings reissued a “hold (c-)” rating on shares of Morningstar in a research note on Tuesday. BMO Capital Markets set a $250.00 price objective on Morningstar in a report on Thursday, October 30th. Finally, Wall Street Zen raised Morningstar from a “hold” rating to a “buy” rating in a research note on Friday, November 28th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $285.00.

Morningstar Stock Down 0.4%

NASDAQ:MORN opened at $216.94 on Friday. The business’s fifty day moving average price is $217.93 and its 200 day moving average price is $259.26. The firm has a market capitalization of $8.92 billion, a price-to-earnings ratio of 24.68 and a beta of 1.11. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.56. Morningstar, Inc. has a 1-year low of $202.89 and a 1-year high of $365.00.

Morningstar (NASDAQ:MORN) last announced its quarterly earnings data on Wednesday, October 29th. The business services provider reported $2.55 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.13. Morningstar had a return on equity of 25.07% and a net margin of 15.70%.The firm had revenue of $617.40 million during the quarter, compared to analyst estimates of $603.29 million.

About Morningstar

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.