Confluence Investment Management LLC Has $19.14 Million Stock Holdings in Morningstar, Inc. $MORN

Key Points

• Confluence Investment Management LLC has reduced its stake in Morningstar, Inc. by 1.8%, owning 60,980 shares valued at approximately $19.14 million as of the latest SEC filing.
• Morningstar's most recent earnings report showed an EPS of $2.40, exceeding analysts' estimates, though revenue fell slightly short of expectations at $605.10 million.
• Institutional ownership of Morningstar is significant, with 57.02% of shares held by institutional investors and hedge funds.

Confluence Investment Management LLC cut its position in Morningstar, Inc. (NASDAQ:MORN - Free Report) by 1.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,980 shares of the business services provider's stock after selling 1,123 shares during the period. Confluence Investment Management LLC owned 0.14% of Morningstar worth $19,143,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in MORN. Hughes Financial Services LLC bought a new position in Morningstar in the 1st quarter valued at about $25,000. Larson Financial Group LLC lifted its position in Morningstar by 5,066.7% in the 1st quarter. Larson Financial Group LLC now owns 155 shares of the business services provider's stock valued at $46,000 after acquiring an additional 152 shares in the last quarter. MAI Capital Management lifted its position in Morningstar by 37.8% in the 1st quarter. MAI Capital Management now owns 153 shares of the business services provider's stock valued at $46,000 after acquiring an additional 42 shares in the last quarter. Blue Trust Inc. lifted its position in Morningstar by 172.3% in the 1st quarter. Blue Trust Inc. now owns 177 shares of the business services provider's stock valued at $53,000 after acquiring an additional 112 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position 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 acquiring an additional 34 shares in the last quarter. 57.02% of the stock is currently owned by institutional investors and hedge funds.

Morningstar Price Performance

Morningstar stock opened at $257.14 on Friday. Morningstar, Inc. has a 52 week low of $249.56 and a 52 week high of $365.00. The company's 50 day moving average price is $270.70 and its two-hundred day moving average price is $287.54. 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 has a market cap of $10.85 billion, a P/E ratio of 27.38 and a beta of 1.01.

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

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of Morningstar from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $361.67.

Insider Activity at Morningstar

In related news, Chairman Joseph D. Mansueto sold 7,250 shares of Morningstar stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $256.50, for a total value of $1,859,625.00. Following the sale, the chairman owned 9,373,175 shares of the company's stock, valued at approximately $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 SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 85,500 shares of company stock worth $22,341,957. 36.20% of the stock is owned by company insiders.

Morningstar 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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