Morningstar, Inc. $MORN Shares Acquired by Nordea Investment Management AB

Key Points

• Nordea Investment Management AB increased its stake in Morningstar, Inc. by 3.0%, bringing its holdings to approximately $18.8 million and 0.14% of the company's total stock.
• Chairman Joseph D. Mansueto sold 6,705 shares valued at approximately $1.75 million, reducing his ownership by 0.07% to around $2.43 billion.
• Morningstar reported a $2.40 EPS for the most recent quarter, beating analysts' expectations, although revenue fell slightly short of projections.

Nordea Investment Management AB grew its position in Morningstar, Inc. (NASDAQ:MORN - Free Report) by 3.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 60,181 shares of the business services provider's stock after acquiring an additional 1,755 shares during the period. Nordea Investment Management AB owned about 0.14% of Morningstar worth $18,801,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Millennium Management LLC raised its position in shares of Morningstar by 88.0% in the first quarter. Millennium Management LLC now owns 540,795 shares of the business services provider's stock worth $162,168,000 after acquiring an additional 253,137 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Morningstar by 1.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 196,465 shares of the business services provider's stock worth $58,914,000 after acquiring an additional 2,270 shares during the period. Premier Fund Managers Ltd raised its position in shares of Morningstar by 13.4% during the 1st quarter. Premier Fund Managers Ltd now owns 170,068 shares of the business services provider's stock worth $50,341,000 after purchasing an additional 20,068 shares during the last quarter. Nuveen LLC acquired a new position in shares of Morningstar during the 1st quarter worth about $38,269,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Morningstar by 11.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 109,257 shares of the business services provider's stock worth $32,763,000 after purchasing an additional 10,920 shares during the last quarter. Institutional investors and hedge funds own 57.02% of the company's stock.

Insider Buying and Selling

In other Morningstar news, Chairman Joseph D. Mansueto sold 6,705 shares of the stock in a transaction dated 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 completion of the sale, the chairman owned 9,312,836 shares in the company, valued at approximately $2,427,390,703.40. This represents a 0.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders have sold 85,500 shares of company stock valued at $22,341,957. 36.20% of the stock is currently owned by corporate insiders.

Morningstar Stock Up 1.8%

MORN stock opened at $214.51 on Monday. The company has a market cap of $9.05 billion, a price-to-earnings ratio of 22.84 and a beta of 1.00. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.52. Morningstar, Inc. has a 12 month low of $210.02 and a 12 month high of $365.00. The firm has a 50-day moving average of $244.71 and a two-hundred day moving average of $275.62.

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

Analyst Upgrades and Downgrades

MORN has been the subject of several research analyst reports. Weiss Ratings restated a "hold (c)" rating on shares of Morningstar in a research report on Wednesday, October 8th. Wall Street Zen downgraded shares of Morningstar from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $355.00.

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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