Legal & General Group Plc Makes New Investment in Morningstar, Inc. $MORN

Legal & General Group Plc purchased a new stake in shares of Morningstar, Inc. (NASDAQ:MORN - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 27,422 shares of the business services provider's stock, valued at approximately $4,278,000. Legal & General Group Plc owned about 0.07% of Morningstar as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Osterweis Capital Management Inc. acquired a new position in Morningstar during the 2nd quarter worth about $29,000. Measured Wealth Private Client Group LLC bought a new position in shares of Morningstar during the third quarter worth about $26,000. Cassaday & Co Wealth Management LLC acquired a new position in shares of Morningstar in the first quarter worth approximately $26,000. Grove Bank & Trust bought a new stake in Morningstar in the second quarter valued at approximately $25,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Morningstar by 23.6% in the first 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 during the last quarter. Institutional investors own 57.02% of the company's stock.

Insider Buying and Selling

In other Morningstar news, Chairman Joseph Mansueto sold 5,659 shares of the business'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 transaction of $1,238,415.56. Following the completion of the sale, the chairman directly owned 7,938,192 shares of the company's stock, valued at approximately $1,737,193,937.28. The trade was a 0.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 86,500 shares of company stock valued at $17,824,451 over the last ninety days. Company insiders own 38.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on MORN shares. Rothschild & Co Redburn set a $210.00 price target on shares of Morningstar in a 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. UBS Group dropped their target price on shares of Morningstar from $280.00 to $260.00 and set a "buy" rating on the stock in a report on Tuesday, July 7th. Wall Street Zen cut shares of Morningstar from a "buy" rating to a "hold" rating in a research report on Saturday, August 29th. Finally, BMO Capital Markets reiterated an "outperform" rating and set a $212.00 price target on shares of Morningstar in a report on Friday, June 26th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $227.33.

Morningstar Stock Down 2.9%

Shares of NASDAQ MORN opened at $209.40 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.66. The firm has a market cap of $7.85 billion, a PE ratio of 19.83 and a beta of 1.00. The company's fifty day simple moving average is $190.31 and its 200 day simple moving average is $179.87. Morningstar, Inc. has a 12-month low of $141.49 and a 12-month high of $261.37.

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

Morningstar Profile

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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