Copeland Capital Management LLC Cuts Holdings in Morningstar, Inc. $MORN

Key Points

• Copeland Capital Management LLC reduced its stake in Morningstar, Inc. by 10.4%, owning approximately 0.22% of the company and holding 92,614 shares worth $29,074,000 after selling 10,770 shares.
• Chairman Joseph D. Mansueto sold 6,705 shares for over $1.74 million, bringing his total holding to 9,312,836 shares, which represents a 0.07% decrease in ownership.
• Morningstar’s stock has decreased by 0.3%, with a current market cap of $9.54 billion and a twelve-month high of $365.00, while analysts maintain an average rating of "Moderate Buy" with a target price of $361.67.

Copeland Capital Management LLC cut its position in shares of Morningstar, Inc. (NASDAQ:MORN - Free Report) by 10.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 92,614 shares of the business services provider's stock after selling 10,770 shares during the quarter. Copeland Capital Management LLC owned approximately 0.22% of Morningstar worth $29,074,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MORN. Wealth Enhancement Advisory Services LLC boosted its holdings in Morningstar by 13.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,643 shares of the business services provider's stock worth $553,000 after purchasing an additional 191 shares during the last quarter. Hennion & Walsh Asset Management Inc. purchased a new position in Morningstar during the first quarter worth about $246,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Morningstar during the first quarter worth about $95,000. Congress Asset Management Co. boosted its holdings in Morningstar by 14.6% during the first quarter. Congress Asset Management Co. now owns 56,216 shares of the business services provider's stock worth $16,858,000 after purchasing an additional 7,173 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in Morningstar by 10.5% during the first quarter. UMB Bank n.a. now owns 516 shares of the business services provider's stock worth $155,000 after purchasing an additional 49 shares during the last quarter. 57.02% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Chairman Joseph D. Mansueto sold 6,705 shares of the business's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $260.65, for a total value of $1,747,658.25. Following the sale, the chairman owned 9,312,836 shares of the company's stock, valued at $2,427,390,703.40. The trade was a 0.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold a total of 85,500 shares of company stock valued at $22,341,957 over the last 90 days. Insiders own 36.20% of the company's stock.

Morningstar Stock Down 0.3%

MORN opened at $226.26 on Friday. 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 $9.54 billion, a price-to-earnings ratio of 24.10 and a beta of 1.00. Morningstar, Inc. has a twelve month low of $225.35 and a twelve month high of $365.00. The company's 50-day moving average price is $255.50 and its two-hundred day moving average price is $281.69.

Morningstar (NASDAQ:MORN - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The business services provider reported $2.40 earnings per share (EPS) for the quarter, beating 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 company had revenue of $605.10 million for the quarter, compared to analyst estimates of $605.84 million.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of Morningstar from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $361.67.

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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