Barlow Wealth Partners Inc. Purchases 12,350 Shares of Morningstar, Inc. $MORN

Key Points

• Barlow Wealth Partners Inc. has increased its stake in Morningstar, Inc. by 33.6% in the second quarter, now holding 49,072 shares valued at approximately $15.24 million.
• Morningstar's stock price opened at $219.68, with a market cap of $9.27 billion, and has exhibited significant fluctuations, with a 12-month low of $218.88 and a high of $365.00.
• Several brokerages have recently issued ratings for Morningstar, with Wall Street Zen lowering it from a "buy" to a "hold," while the average consensus target price stands at $355.00.

Barlow Wealth Partners Inc. lifted its position in Morningstar, Inc. (NASDAQ:MORN - Free Report) by 33.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 49,072 shares of the business services provider's stock after purchasing an additional 12,350 shares during the period. Morningstar comprises approximately 1.8% of Barlow Wealth Partners Inc.'s portfolio, making the stock its 26th biggest holding. Barlow Wealth Partners Inc. owned about 0.12% of Morningstar worth $15,237,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Morningstar by 9.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,802 shares of the business services provider's stock worth $540,000 after purchasing an additional 159 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of Morningstar by 106.8% in the first quarter. Royal Bank of Canada now owns 37,089 shares of the business services provider's stock worth $11,121,000 after purchasing an additional 19,155 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Morningstar by 12.9% in the first quarter. Envestnet Asset Management Inc. now owns 106,294 shares of the business services provider's stock worth $31,874,000 after purchasing an additional 12,159 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of Morningstar in the first quarter worth approximately $649,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings 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 worth $32,763,000 after purchasing an additional 10,920 shares during the last quarter. Institutional investors own 57.02% of the company's stock.

Morningstar Stock Performance

Shares of Morningstar stock opened at $219.68 on Thursday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $9.27 billion, a P/E ratio of 23.40 and a beta of 1.00. The business has a fifty day simple moving average of $246.59 and a two-hundred day simple moving average of $277.12. Morningstar, Inc. has a 12 month low of $218.88 and a 12 month high of $365.00.

Morningstar (NASDAQ:MORN - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The business services provider reported $2.40 EPS for the quarter, beating the consensus estimate of $2.21 by $0.19. The business 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%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MORN. Wall Street Zen cut shares of Morningstar from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Weiss Ratings reiterated a "hold (c)" rating on shares of Morningstar in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Morningstar has an average rating of "Moderate Buy" and a consensus target price of $355.00.

Insider Activity

In other news, Chairman Joseph D. Mansueto sold 7,250 shares of Morningstar stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $256.50, for a total value of $1,859,625.00. Following the completion of the transaction, the chairman owned 9,373,175 shares of the company's stock, valued at $2,404,219,387.50. The trade was a 0.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders sold 85,500 shares of company stock valued at $22,341,957. 36.20% of the stock is owned by 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.

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