Integrated Wealth Concepts LLC Purchases Shares of 2,163 Morningstar, Inc. $MORN

Key Points

• Integrated Wealth Concepts LLC purchased 2,163 shares of Morningstar, Inc. for approximately $649,000 in the first quarter.
• Insider trading activity includes Chairman Joseph D. Mansueto selling 7,250 shares worth about $1.86 million, decreasing his ownership by 0.08%.
• Morningstar reported earnings of $2.40 per share for the last quarter, surpassing analysts' estimates and indicating a strong net margin of 17.22%.

Integrated Wealth Concepts LLC purchased a new stake in shares of Morningstar, Inc. (NASDAQ:MORN - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund purchased 2,163 shares of the business services provider's stock, valued at approximately $649,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Hughes Financial Services LLC purchased a new position in shares of Morningstar during the first quarter valued at approximately $25,000. Larson Financial Group LLC boosted its position in shares of Morningstar by 5,066.7% during the first quarter. Larson Financial Group LLC now owns 155 shares of the business services provider's stock valued at $46,000 after buying an additional 152 shares during the last quarter. MAI Capital Management boosted its position in shares of Morningstar by 37.8% during the first quarter. MAI Capital Management now owns 153 shares of the business services provider's stock valued at $46,000 after buying an additional 42 shares during the last quarter. Blue Trust Inc. boosted its holdings in Morningstar by 172.3% during the 1st quarter. Blue Trust Inc. now owns 177 shares of the business services provider's stock worth $53,000 after acquiring an additional 112 shares during the last quarter. Finally, WPG Advisers LLC purchased a new position in Morningstar during the 1st quarter worth $73,000. Institutional investors and hedge funds own 57.02% of the company's stock.

Insider Buying and Selling

In related news, Chairman Joseph D. Mansueto sold 7,250 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $256.50, for a total value of $1,859,625.00. Following the transaction, the chairman owned 9,373,175 shares in the company, valued at approximately $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 accessible through this link. Insiders sold a total of 85,500 shares of company stock valued at $22,341,957 in the last quarter. 36.20% of the stock is currently owned by corporate insiders.

Morningstar Price Performance

Shares of NASDAQ:MORN opened at $257.14 on Friday. The company's 50-day moving average is $270.70 and its 200 day moving average is $287.54. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.13 and a current ratio of 1.13. The company has a market capitalization of $10.85 billion, a P/E ratio of 27.38 and a beta of 1.01. Morningstar, Inc. has a fifty-two week low of $249.56 and a fifty-two week high of $365.00.

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

Analyst Ratings Changes

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

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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