Canada Pension Plan Investment Board Buys Shares of 50,700 Morningstar, Inc. $MORN

Canada Pension Plan Investment Board bought a new position in shares of Morningstar, Inc. (NASDAQ:MORN) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 50,700 shares of the business services provider’s stock, valued at approximately $7,910,000.

A number of other institutional investors have also made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings 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 acquiring an additional 34 shares during the last quarter. Quarry LP boosted its position in shares of Morningstar by 51.2% during the fourth quarter. Quarry LP now owns 189 shares of the business services provider’s stock worth $41,000 after buying an additional 64 shares during the period. Diversify Advisory Services LLC boosted its position in shares of Morningstar by 4.7% during the third quarter. Diversify Advisory Services LLC now owns 1,641 shares of the business services provider’s stock worth $350,000 after buying an additional 74 shares during the period. Diversify Wealth Management LLC grew its stake in shares of Morningstar by 2.0% in the fourth quarter. Diversify Wealth Management LLC now owns 4,168 shares of the business services provider’s stock valued at $900,000 after buying an additional 82 shares in the last quarter. Finally, Osterweis Capital Management Inc. acquired a new stake in shares of Morningstar in the second quarter valued at $29,000. 57.02% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Chairman Joseph D. Mansueto sold 7,906 shares of Morningstar stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $210.26, for a total value of $1,662,315.56. Following the completion of the transaction, the chairman owned 7,960,570 shares in the company, valued at approximately $1,673,789,448.20. This trade represents a 0.10% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 86,500 shares of company stock valued at $17,824,451. Company insiders own 38.80% of the company’s stock.

Morningstar Stock Down 0.5%

Shares of NASDAQ MORN opened at $217.65 on Friday. The stock has a market cap of $8.16 billion, a P/E ratio of 20.61 and a beta of 0.99. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.66. Morningstar, Inc. has a 12-month low of $141.49 and a 12-month high of $263.67. The business’s fifty day simple moving average is $184.22 and its 200-day simple moving average is $177.98.

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

Analyst Upgrades and Downgrades

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