Healthcare of Ontario Pension Plan Trust Fund Has $1.12 Million Holdings in Morningstar, Inc. $MORN

Key Points

• Healthcare of Ontario Pension Plan Trust Fund reduced its Morningstar stake by 72% in the first quarter, selling 17,000 shares and retaining 6,600 shares valued at approximately $1.12 million.
• Other institutional investors increased their positions, including Wellington Management, AQR Capital Management, Norges Bank, Corient Private Wealth and Voloridge Investment Management. Institutional investors collectively own 57.02% of Morningstar.
• Morningstar exceeded quarterly expectations, reporting $3.10 in EPS versus the $2.83 consensus and revenue of $663.2 million versus $649.72 million expected. Analysts’ average rating remains “Hold,” with a consensus price target of $227.33.

Healthcare of Ontario Pension Plan Trust Fund cut its position in shares of Morningstar, Inc. (NASDAQ:MORN - Free Report) by 72.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,600 shares of the business services provider's stock after selling 17,000 shares during the period. Healthcare of Ontario Pension Plan Trust Fund's holdings in Morningstar were worth $1,116,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP increased its holdings in Morningstar by 85.4% in the 4th quarter. Wellington Management Group LLP now owns 1,136,213 shares of the business services provider's stock valued at $246,910,000 after buying an additional 523,387 shares during the period. AQR Capital Management LLC raised its stake in shares of Morningstar by 106.9% in the 3rd quarter. AQR Capital Management LLC now owns 608,244 shares of the business services provider's stock valued at $141,119,000 after buying an additional 314,275 shares in the last quarter. Norges Bank acquired a new stake in shares of Morningstar during the 4th quarter valued at about $62,367,000. Corient Private Wealth LLC boosted its position in shares of Morningstar by 1,196.5% during the 4th quarter. Corient Private Wealth LLC now owns 260,978 shares of the business services provider's stock valued at $56,713,000 after acquiring an additional 240,848 shares in the last quarter. Finally, Voloridge Investment Management LLC increased its stake in Morningstar by 362.8% in the third quarter. Voloridge Investment Management LLC now owns 187,128 shares of the business services provider's stock valued at $43,416,000 after acquiring an additional 146,693 shares during the period. 57.02% of the stock is owned by institutional investors.

Insider Activity at Morningstar

In other news, Director William M. Lyons sold 700 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $179.00, for a total transaction of $125,300.00. Following the sale, the director owned 13,904 shares in the company, valued at approximately $2,488,816. This represents a 4.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michael Holt sold 270 shares of the firm's stock in a transaction on Friday, May 15th. The shares were sold at an average price of $166.05, for a total value of $44,833.50. Following the completion of the sale, the chief financial officer owned 12,326 shares of the company's stock, valued at approximately $2,046,732.30. This trade represents a 2.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 57,470 shares of company stock valued at $9,929,576 in the last three months. Corporate insiders own 38.80% of the company's stock.

Morningstar Price Performance

Shares of Morningstar stock opened at $192.57 on Friday. The stock has a market capitalization of $7.22 billion, a price-to-earnings ratio of 18.24 and a beta of 1.01. The firm's 50-day moving average price is $172.26 and its two-hundred day moving average price is $177.34. The company has a current ratio of 1.06, a quick ratio of 1.03 and a debt-to-equity ratio of 1.66. Morningstar, Inc. has a 1-year low of $141.49 and a 1-year high of $279.33.

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

Analysts Set New Price Targets

A number of brokerages have commented on MORN. Rothschild & Co Redburn set a $210.00 price target on shares of Morningstar in a research note on Thursday, June 18th. UBS Group lowered their price objective on Morningstar from $280.00 to $260.00 and set a "buy" rating on the stock in a research note on Tuesday, July 7th. Weiss Ratings cut Morningstar from a "hold (c-)" rating to a "sell (d+)" rating in a report on Thursday. BMO Capital Markets restated an "outperform" rating and set a $212.00 target price on shares of Morningstar in a research report on Friday, June 26th. Finally, Wall Street Zen raised Morningstar from a "hold" rating to a "buy" rating in a research note on Sunday, June 21st. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target 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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