Arrowstreet Capital Limited Partnership Buys 109,833 Shares of Morningstar, Inc. $MORN

Arrowstreet Capital Limited Partnership increased its stake in shares of Morningstar, Inc. (NASDAQ:MORN) by 38.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 394,931 shares of the business services provider’s stock after purchasing an additional 109,833 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Morningstar were worth $66,763,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Morningstar by 23.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 178 shares of the business services provider’s stock valued at $53,000 after buying an additional 34 shares during the last quarter. Focus Partners Wealth grew its position in shares of Morningstar by 3.4% in the 1st quarter. Focus Partners Wealth now owns 3,838 shares of the business services provider’s stock worth $1,151,000 after buying an additional 126 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Morningstar by 278.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 208 shares of the business services provider’s stock worth $62,000 after acquiring an additional 153 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Morningstar by 2,450.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 561 shares of the business services provider’s stock worth $176,000 after acquiring an additional 539 shares in the last quarter. Finally, Qube Research & Technologies Ltd lifted its position in Morningstar by 58.8% during the second quarter. Qube Research & Technologies Ltd now owns 138,932 shares of the business services provider’s stock valued at $43,615,000 after acquiring an additional 51,449 shares during the last quarter. Institutional investors own 57.02% of the company’s stock.

Insider Activity

In other news, Chairman Joseph D. Mansueto sold 7,250 shares of the company’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $166.23, for a total value of $1,205,167.50. Following the sale, the chairman owned 8,114,492 shares in the company, valued at $1,348,872,005.16. This represents a 0.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 64,720 shares of company stock valued at $11,169,471. Insiders own 38.80% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Weiss Ratings raised shares of Morningstar from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, July 15th. BMO Capital Markets reiterated an “outperform” rating and set a $212.00 price objective on shares of Morningstar in a report on Friday, June 26th. UBS Group lowered 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. Wall Street Zen upgraded Morningstar from a “hold” rating to a “buy” rating in a research note on Sunday, June 21st. Finally, Rothschild & Co Redburn set a $210.00 target price on Morningstar in a research report 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 company’s stock. According to data from MarketBeat.com, Morningstar currently has a consensus rating of “Moderate Buy” and an average price target of $227.33.

Morningstar Stock Performance

Shares of Morningstar stock opened at $172.61 on Monday. The stock has a market cap of $6.56 billion, a PE ratio of 17.58 and a beta of 1.01. The firm has a fifty day moving average price of $170.53 and a 200 day moving average price of $177.87. Morningstar, Inc. has a 1 year low of $141.49 and a 1 year high of $289.63. 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 (NASDAQ:MORN) last posted its quarterly earnings results on Wednesday, April 29th. The business services provider reported $3.18 EPS for the quarter, beating the consensus estimate of $2.41 by $0.77. The company had revenue of $644.80 million for the quarter, compared to analyst estimates of $626.91 million. Morningstar had a net margin of 16.06% and a return on equity of 33.14%.

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.