9,427 Shares in Morningstar, Inc. $MORN Acquired by Aviance Capital Partners LLC

Key Points

• Aviance Capital Partners acquired 9,427 Morningstar shares valued at approximately $1.79 million, while institutional investors collectively own 57.02% of the company.
• Morningstar exceeded quarterly expectations, reporting $3.48 in earnings per share versus the $3.04 consensus estimate and revenue of $672.1 million.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $235.67; Morningstar shares recently opened at $226.19.

Aviance Capital Partners LLC acquired a new position in shares of Morningstar, Inc. (NASDAQ:MORN - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 9,427 shares of the business services provider's stock, valued at approximately $1,792,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Cassaday & Co Wealth Management LLC bought a new stake in Morningstar during the first quarter worth $26,000. Grove Bank & Trust purchased a new stake in Morningstar in the 2nd quarter valued at $25,000. Fortitude Family Office LLC lifted its stake in Morningstar by 260.0% during the 3rd quarter. Fortitude Family Office LLC now owns 234 shares of the business services provider's stock valued at $44,000 after acquiring an additional 169 shares in the last quarter. Global Retirement Partners LLC bought a new position in Morningstar during the 2nd quarter valued at $49,000. Finally, IFP Advisors Inc boosted its holdings in Morningstar by 45.2% during the 2nd quarter. IFP Advisors Inc now owns 315 shares of the business services provider's stock worth $49,000 after acquiring an additional 98 shares during the last quarter. 57.02% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Morningstar

In related news, Chairman Joseph Mansueto sold 5,659 shares of the business's 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 transaction, the chairman directly owned 7,938,192 shares of the company's stock, valued at approximately $1,737,193,937.28. The trade was a 0.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 86,500 shares of company stock worth $17,824,451. Insiders own 38.80% of the company's stock.

Morningstar Stock Performance

Shares of MORN opened at $226.19 on Friday. The stock has a 50 day moving average of $205.90 and a 200 day moving average of $186.20. The company has a market capitalization of $8.39 billion, a price-to-earnings ratio of 19.75 and a beta of 1.02. Morningstar, Inc. has a 12 month low of $141.49 and a 12 month high of $227.05. The company has a current ratio of 1.05, a quick ratio of 1.06 and a debt-to-equity ratio of 1.62.

Morningstar (NASDAQ:MORN - Get Free Report) last posted its quarterly earnings data on Wednesday, October 28th. The business services provider reported $3.48 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.44. The business had revenue of $672.10 million for the quarter, compared to analysts' expectations of $664.75 million. Morningstar had a return on equity of 45.17% and a net margin of 17.00%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on MORN shares. Weiss Ratings upgraded shares of Morningstar from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, October 9th. BMO Capital Markets raised their price target on shares of Morningstar from $230.00 to $237.00 and gave the company an "outperform" rating in a research report on Tuesday, October 13th. UBS Group cut their price target on shares of Morningstar from $280.00 to $260.00 and set a "buy" rating on the stock in a report on Tuesday, July 7th. Finally, Wall Street Zen raised shares of Morningstar from a "hold" rating to a "buy" rating in a research report on Saturday, September 26th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $235.67.

Morningstar Profile

Morningstar, Inc is a global provider of independent investment research, data, and financial technology. The company serves asset managers, financial advisors, institutions, retirement plans, and individual investors with information designed to support investment analysis and decision-making.

Its products and services include research and ratings on mutual funds, exchange-traded funds, stocks, bonds, and other investments; portfolio analysis and planning tools; investment-management and advisory services; and software and data solutions for financial professionals and institutions.

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