Truist Financial Corp Sells 92 Shares of Morningstar, Inc. $MORN

Truist Financial Corp cut its stake in shares of Morningstar, Inc. (NASDAQ:MORN) by 2.1% in the second quarter, Holdings Channel reports. The fund owned 4,225 shares of the business services provider’s stock after selling 92 shares during the period. Truist Financial Corp’s holdings in Morningstar were worth $1,326,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Millennium Management LLC lifted 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 acquiring an additional 253,137 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Morningstar by 1.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 196,465 shares of the business services provider’s stock valued at $58,914,000 after acquiring an additional 2,270 shares during the period. Premier Fund Managers Ltd lifted its holdings in shares of Morningstar by 13.4% during the first quarter. Premier Fund Managers Ltd now owns 170,068 shares of the business services provider’s stock valued at $50,341,000 after acquiring an additional 20,068 shares during the period. Nuveen LLC acquired a new stake in shares of Morningstar in the first quarter valued at $38,269,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Morningstar by 11.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 109,257 shares of the business services provider’s stock valued at $32,763,000 after buying an additional 10,920 shares in the last quarter. 57.02% of the stock is owned by institutional investors.

Morningstar Price Performance

Shares of MORN stock opened at $225.34 on Monday. The stock has a 50-day moving average price of $249.02 and a 200 day moving average price of $278.38. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.52. The firm has a market cap of $9.50 billion, a price-to-earnings ratio of 24.00 and a beta of 1.00. Morningstar, Inc. has a 12 month low of $221.02 and a 12 month high of $365.00.

Morningstar (NASDAQ:MORN) last announced its quarterly earnings data on Wednesday, July 30th. The business services provider reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.19. The firm had revenue of $605.10 million during the quarter, compared to analyst estimates of $605.84 million. Morningstar had a return on equity of 23.54% and a net margin of 17.22%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Weiss Ratings restated a “hold (c)” rating on shares of Morningstar in a research note on Wednesday, October 8th. Wall Street Zen lowered Morningstar from a “buy” rating to a “hold” rating in a research note on Saturday, July 5th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Morningstar currently has a consensus rating of “Moderate Buy” and a consensus target price of $355.00.

Insider Buying and Selling

In related news, Chairman Joseph D. Mansueto sold 6,705 shares of Morningstar stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $260.65, for a total value of $1,747,658.25. Following the completion of the sale, the chairman directly owned 9,312,836 shares in the company, valued at $2,427,390,703.40. This trade represents a 0.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 85,500 shares of company stock valued at $22,341,957 in the last three months. 36.20% of the stock is owned by company insiders.

Morningstar Company Profile

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.