Hsbc Holdings PLC Decreases Stock Holdings in Morningstar, Inc. $MORN

Hsbc Holdings PLC reduced its stake in shares of Morningstar, Inc. (NASDAQ:MORN) by 64.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,920 shares of the business services provider’s stock after selling 17,774 shares during the quarter. Hsbc Holdings PLC’s holdings in Morningstar were worth $2,155,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP grew its holdings in shares of Morningstar by 85.4% in the 4th quarter. Wellington Management Group LLP now owns 1,136,213 shares of the business services provider’s stock worth $246,910,000 after acquiring an additional 523,387 shares during the period. AQR Capital Management LLC grew its holdings in 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. Norges Bank acquired a new stake in Morningstar in the fourth quarter valued at $62,367,000. Corient Private Wealth LLC increased its position in shares of Morningstar by 1,196.5% in the fourth quarter. Corient Private Wealth LLC now owns 260,978 shares of the business services provider’s stock valued at $56,713,000 after buying an additional 240,848 shares in the last quarter. Finally, Voloridge Investment Management LLC increased its position in shares of Morningstar by 362.8% in the third quarter. Voloridge Investment Management LLC now owns 187,128 shares of the business services provider’s stock valued at $43,416,000 after buying an additional 146,693 shares in the last quarter. 57.02% of the stock is currently owned by institutional investors and hedge funds.

Morningstar Trading Up 0.8%

Shares of MORN opened at $155.85 on Tuesday. Morningstar, Inc. has a fifty-two week low of $141.49 and a fifty-two week high of $316.71. The company has a market capitalization of $5.93 billion, a PE ratio of 15.87 and a beta of 1.00. The stock has a fifty day moving average of $173.98 and a two-hundred day moving average of $184.22. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.03 and a current ratio of 1.03.

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

Wall Street Analysts Forecast Growth

MORN has been the topic of several recent research reports. Wall Street Zen upgraded shares of Morningstar from a “hold” rating to a “buy” rating in a research report on Sunday, June 21st. Rothschild & Co Redburn set a $210.00 target price on shares of Morningstar in a report on Thursday, June 18th. BMO Capital Markets restated an “outperform” rating and set a $212.00 target price on shares of Morningstar in a research report on Friday. Finally, Weiss Ratings downgraded shares of Morningstar from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, June 24th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $234.00.

Insider Buying and Selling

In related news, Chairman Joseph D. Mansueto sold 7,250 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $166.23, for a total transaction of $1,205,167.50. Following the completion of the transaction, the chairman owned 8,114,492 shares of the company’s stock, valued at approximately $1,348,872,005.16. This represents a 0.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 64,720 shares of company stock worth $11,169,471 over the last ninety days. Corporate insiders own 38.80% of the company’s stock.

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.