Allspring Global Investments Holdings LLC Has $4.66 Million Holdings in Morningstar, Inc. $MORN

Allspring Global Investments Holdings LLC lifted its position in shares of Morningstar, Inc. (NASDAQ:MORN) by 1,976.3% in the first quarter, Holdings Channel reports. The institutional investor owned 27,428 shares of the business services provider’s stock after acquiring an additional 26,107 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Morningstar were worth $4,655,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Berkeley Inc bought a new position in shares of Morningstar in the fourth quarter worth $3,777,000. Fluent Financial LLC acquired a new position in Morningstar during the fourth quarter valued at approximately $2,541,000. Thrivent Financial for Lutherans raised its position in Morningstar by 176.5% during the fourth quarter. Thrivent Financial for Lutherans now owns 35,185 shares of the business services provider’s stock valued at $7,629,000 after purchasing an additional 22,459 shares in the last quarter. WINTON GROUP Ltd bought a new position in shares of Morningstar in the 4th quarter valued at $6,534,000. Finally, Oak Thistle LLC acquired a new stake in Morningstar in the fourth quarter valued at about $768,000. 57.02% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MORN has been the subject of a number of research analyst reports. Wall Street Zen upgraded shares of Morningstar from a “hold” rating to a “buy” rating in a research report on Sunday, June 21st. BMO Capital Markets restated an “outperform” rating and set a $212.00 price objective on shares of Morningstar in a research report on Friday, June 26th. UBS Group lowered their target price on Morningstar from $280.00 to $260.00 and set a “buy” rating for the company in a report on Tuesday, July 7th. Weiss Ratings upgraded Morningstar from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, July 15th. Finally, Rothschild & Co Redburn set a $210.00 price target on Morningstar in a research note on Thursday, June 18th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $227.33.

Insiders Place Their Bets

In related news, CFO Michael Holt sold 270 shares of the stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $166.05, for a total transaction of $44,833.50. Following the sale, the chief financial officer owned 12,326 shares of the company’s stock, valued at approximately $2,046,732.30. This represents a 2.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William M. Lyons sold 700 shares of Morningstar stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $179.00, for a total transaction of $125,300.00. Following the sale, the director owned 13,904 shares of the company’s stock, valued at approximately $2,488,816. The trade was a 4.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 64,720 shares of company stock worth $11,169,471 over the last 90 days. Corporate insiders own 38.80% of the company’s stock.

Morningstar Stock Up 3.0%

Shares of NASDAQ:MORN opened at $172.61 on Friday. The company has a market capitalization of $6.56 billion, a PE ratio of 17.58 and a beta of 1.01. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.03 and a quick ratio of 1.03. Morningstar, Inc. has a 1 year low of $141.49 and a 1 year high of $289.63. The business has a fifty day moving average price of $170.53 and a two-hundred day moving average price of $178.12.

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

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.