Public Employees Retirement System of Ohio Buys Shares of 5,785 Morningstar, Inc. $MORN

Public Employees Retirement System of Ohio purchased a new position in Morningstar, Inc. (NASDAQ:MORN) during the 2nd quarter, Holdings Channel reports. The fund purchased 5,785 shares of the business services provider’s stock, valued at approximately $903,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Morningstar by 23.6% in the 1st 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. Quarry LP grew its holdings in Morningstar by 51.2% during the fourth quarter. Quarry LP now owns 189 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 64 shares during the period. Diversify Advisory Services LLC lifted its position in shares of Morningstar by 4.7% during the 3rd quarter. Diversify Advisory Services LLC now owns 1,641 shares of the business services provider’s stock valued at $350,000 after buying an additional 74 shares in the last quarter. Osterweis Capital Management Inc. bought a new position in shares of Morningstar during the 2nd quarter valued at approximately $29,000. Finally, Measured Wealth Private Client Group LLC purchased a new stake in Morningstar in the 3rd quarter worth approximately $26,000. Hedge funds and other institutional investors own 57.02% of the company’s stock.

Insider Activity

In related news, Chairman Joseph Mansueto sold 5,659 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $218.84, for a total value of $1,238,415.56. Following the completion of the transaction, the chairman owned 7,938,192 shares of the company’s stock, valued at approximately $1,737,193,937.28. This trade represents a 0.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 86,500 shares of company stock worth $17,824,451. 38.80% of the stock is currently owned by corporate insiders.

Morningstar Stock Performance

NASDAQ MORN opened at $198.09 on Thursday. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.06 and a quick ratio of 1.06. Morningstar, Inc. has a 1-year low of $141.49 and a 1-year high of $261.37. The business has a 50 day simple moving average of $192.99 and a two-hundred day simple moving average of $180.89. The stock has a market capitalization of $7.43 billion, a PE ratio of 18.76 and a beta of 1.00.

Morningstar (NASDAQ:MORN) last posted its earnings results on Wednesday, July 29th. The business services provider reported $3.10 earnings per share for the quarter, beating analysts’ consensus estimates of $2.83 by $0.27. The firm had revenue of $663.20 million during the quarter, compared to analyst estimates of $649.72 million. Morningstar had a net margin of 16.43% and a return on equity of 38.57%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on MORN shares. Wall Street Zen downgraded shares of Morningstar from a “buy” rating to a “hold” rating in a report on Saturday, August 29th. BMO Capital Markets reiterated an “outperform” rating and issued a $212.00 price target on shares of Morningstar in a research note on Friday, June 26th. Weiss Ratings raised Morningstar from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, August 14th. Rothschild & Co Redburn set a $210.00 price objective on Morningstar in a research note on Thursday, June 18th. Finally, UBS Group cut their target price on Morningstar from $280.00 to $260.00 and set a “buy” rating for the company in a research report on Tuesday, July 7th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $227.33.

Morningstar 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.