Callan Family Office LLC Boosts Stock Position in Morningstar, Inc. $MORN

Key Points

• Callan Family Office LLC increased its stake in Morningstar, Inc. by 247.8%, owning a total of 3,005 shares valued at approximately $943,000 after acquiring an additional 2,141 shares in Q2.
• Several institutional investors, including Millennium Management LLC and Charles Schwab Investment Management Inc., also significantly increased their holdings in Morningstar during the first quarter.
• Morningstar's stock is currently rated as a "Moderate Buy" with a consensus price target of $355.00, despite a recent stock decline of 0.7%.

Callan Family Office LLC grew its stake in Morningstar, Inc. (NASDAQ:MORN - Free Report) by 247.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,005 shares of the business services provider's stock after purchasing an additional 2,141 shares during the period. Callan Family Office LLC's holdings in Morningstar were worth $943,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Millennium Management LLC grew its position in shares of Morningstar by 88.0% in the first quarter. Millennium Management LLC now owns 540,795 shares of the business services provider's stock valued at $162,168,000 after purchasing an additional 253,137 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Morningstar by 1.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 196,465 shares of the business services provider's stock valued at $58,914,000 after purchasing an additional 2,270 shares in the last quarter. Premier Fund Managers Ltd grew its position in shares of Morningstar by 13.4% in the first quarter. Premier Fund Managers Ltd now owns 170,068 shares of the business services provider's stock valued at $50,341,000 after purchasing an additional 20,068 shares in the last quarter. Nuveen LLC purchased a new position in Morningstar in the first quarter worth approximately $38,269,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in 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 acquiring an additional 10,920 shares during the period. 57.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Weiss Ratings reiterated a "hold (c)" rating on shares of Morningstar in a research report on Wednesday, October 8th. Wall Street Zen lowered Morningstar from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $355.00.

Morningstar Stock Down 0.7%

NASDAQ:MORN opened at $225.34 on Monday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.52. The stock's fifty day moving average is $249.02 and its two-hundred day moving average is $278.38. Morningstar, Inc. has a 52 week low of $221.02 and a 52 week high of $365.00. The stock has a market capitalization of $9.50 billion, a price-to-earnings ratio of 24.00 and a beta of 1.00.

Morningstar (NASDAQ:MORN - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The business services provider reported $2.40 EPS for the quarter, topping analysts' consensus estimates of $2.21 by $0.19. Morningstar had a return on equity of 23.54% and a net margin of 17.22%.The company had revenue of $605.10 million for the quarter, compared to analysts' expectations of $605.84 million.

Insider Buying and Selling

In other Morningstar news, Chairman Joseph D. Mansueto sold 7,250 shares of the company's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $256.50, for a total transaction of $1,859,625.00. Following the transaction, the chairman directly owned 9,373,175 shares in the company, valued at $2,404,219,387.50. This represents a 0.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 85,500 shares of company stock worth $22,341,957 in the last 90 days. 36.20% of the stock is owned by corporate insiders.

About Morningstar

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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