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

Key Points

• Canada Pension Plan Investment Board acquired 50,700 Morningstar shares worth approximately $7.91 million, representing a 0.14% stake. Institutional investors collectively own 57.02% of the company.
• Morningstar exceeded quarterly expectations, reporting EPS of $3.10 versus the $2.83 consensus and revenue of $663.2 million versus estimates of $649.72 million.
• Chairman Joseph D. Mansueto sold 5,659 shares for about $1.24 million, while insiders have sold 86,500 shares worth $17.82 million over the past 90 days. Analysts maintain a “Moderate Buy” consensus with an average price target of $227.33.

Canada Pension Plan Investment Board bought a new stake in Morningstar, Inc. (NASDAQ:MORN - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 50,700 shares of the business services provider's stock, valued at approximately $7,910,000. Canada Pension Plan Investment Board owned 0.14% of Morningstar as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of MORN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in 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 valued at $53,000 after buying an additional 34 shares in the last quarter. Quarry LP increased its stake in Morningstar by 51.2% during the 4th quarter. Quarry LP now owns 189 shares of the business services provider's stock worth $41,000 after buying an additional 64 shares in the last quarter. Diversify Advisory Services LLC increased its stake in Morningstar by 4.7% during the 3rd 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 in the last quarter. Diversify Wealth Management LLC raised its holdings in shares of Morningstar by 2.0% during the fourth quarter. Diversify Wealth Management LLC now owns 4,168 shares of the business services provider's stock valued at $900,000 after acquiring an additional 82 shares during the last quarter. Finally, Osterweis Capital Management Inc. acquired a new position in shares of Morningstar during the second quarter valued at approximately $29,000. Hedge funds and other institutional investors own 57.02% of the company's stock.

Insider Activity at Morningstar

In related news, Chairman Joseph D. Mansueto sold 5,659 shares of the company's stock in a transaction that occurred on Monday, August 24th. The stock was 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 in the company, valued at approximately $1,737,193,937.28. This represents a 0.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over 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 insiders.

Morningstar Stock Performance

NASDAQ MORN opened at $217.65 on Friday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.06 and a current ratio of 1.06. The stock's fifty day moving average is $184.22 and its two-hundred day moving average is $177.98. The firm has a market capitalization of $8.16 billion, a P/E ratio of 20.61 and a beta of 0.99. Morningstar, Inc. has a fifty-two week low of $141.49 and a fifty-two week high of $263.67.

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

Wall Street Analysts Forecast Growth

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

About Morningstar

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.

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