Morningstar, Inc. $MORN Shares Purchased by Panagora Asset Management Inc.

Panagora Asset Management Inc. increased its holdings in Morningstar, Inc. (NASDAQ:MORN) by 3.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 58,661 shares of the business services provider’s stock after purchasing an additional 1,969 shares during the quarter. Panagora Asset Management Inc. owned 0.14% of Morningstar worth $18,415,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. IFP Advisors Inc grew its position in shares of Morningstar by 270.3% in the second quarter. IFP Advisors Inc now owns 137 shares of the business services provider’s stock valued at $43,000 after purchasing an additional 100 shares during the period. MAI Capital Management increased its stake in Morningstar by 37.8% during the 1st quarter. MAI Capital Management now owns 153 shares of the business services provider’s stock worth $46,000 after buying an additional 42 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased 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 worth $53,000 after purchasing an additional 34 shares in the last quarter. American National Bank & Trust acquired a new position in Morningstar in the 2nd quarter valued at $57,000. Finally, Employees Retirement System of Texas purchased a new position in Morningstar in the 2nd quarter valued at $58,000. 57.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on MORN shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Morningstar in a report on Wednesday, November 26th. Wall Street Zen raised shares of Morningstar from a “hold” rating to a “buy” rating in a report on Friday. UBS Group reduced their target price on shares of Morningstar from $350.00 to $320.00 and set a “buy” rating on the stock in a research note on Thursday, October 30th. Finally, BMO Capital Markets set a $250.00 target price on Morningstar in a research note on Thursday, October 30th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $285.00.

Insider Activity at Morningstar

In related news, Chairman Joseph D. Mansueto sold 7,250 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $211.95, for a total value of $1,536,637.50. Following the completion of the sale, the chairman directly owned 8,693,565 shares of the company’s stock, valued at $1,842,601,101.75. The trade was a 0.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders have sold 63,750 shares of company stock valued at $13,537,223. Company insiders own 36.20% of the company’s stock.

Morningstar Trading Up 0.7%

MORN opened at $216.38 on Tuesday. The business has a fifty day moving average price of $218.98 and a 200 day moving average price of $260.50. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.13 and a quick ratio of 1.13. Morningstar, Inc. has a 12 month low of $202.89 and a 12 month high of $365.00. The stock has a market capitalization of $8.90 billion, a price-to-earnings ratio of 24.62 and a beta of 1.06.

Morningstar (NASDAQ:MORN) last announced its quarterly earnings data on Wednesday, October 29th. The business services provider reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates of $2.42 by $0.13. The business had revenue of $617.40 million for the quarter, compared to analyst estimates of $603.29 million. Morningstar had a net margin of 15.70% and a return on equity of 24.68%.

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.