Raymond James Financial Inc. Purchases 9,997 Shares of Morningstar, Inc. $MORN

Key Points

• Raymond James Financial Inc. boosted its holdings in Morningstar, Inc. by 20.4%, now owning approximately 58,983 shares valued at $17.7 million, as disclosed in a recent SEC filing.
• Morningstar's quarterly earnings report showed an EPS of $2.40, exceeding the consensus estimate of $2.21, with a revenue of $605.10 million.
• Analysts have a consensus rating of "Moderate Buy" for Morningstar, with a current target price of $361.67, reflecting positive market sentiment.

Raymond James Financial Inc. lifted its stake in shares of Morningstar, Inc. (NASDAQ:MORN - Free Report) by 20.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 58,983 shares of the business services provider's stock after purchasing an additional 9,997 shares during the period. Raymond James Financial Inc. owned 0.14% of Morningstar worth $17,687,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of MORN. Mariner LLC increased its stake in shares of Morningstar by 10.7% during the 4th quarter. Mariner LLC now owns 1,705 shares of the business services provider's stock worth $574,000 after purchasing an additional 165 shares during the last quarter. MML Investors Services LLC increased its stake in shares of Morningstar by 19.0% during the 4th quarter. MML Investors Services LLC now owns 5,095 shares of the business services provider's stock worth $1,716,000 after purchasing an additional 815 shares during the last quarter. Stifel Financial Corp increased its stake in shares of Morningstar by 1.5% during the 4th quarter. Stifel Financial Corp now owns 18,633 shares of the business services provider's stock worth $6,275,000 after purchasing an additional 284 shares during the last quarter. Hsbc Holdings PLC increased its stake in shares of Morningstar by 557.5% during the 4th quarter. Hsbc Holdings PLC now owns 6,266 shares of the business services provider's stock worth $2,115,000 after purchasing an additional 5,313 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC purchased a new stake in shares of Morningstar during the 4th quarter worth approximately $220,000. Hedge funds and other institutional investors own 57.02% of the company's stock.

Morningstar Price Performance

NASDAQ:MORN traded down $6.43 during trading hours on Tuesday, hitting $255.99. The stock had a trading volume of 332,462 shares, compared to its average volume of 324,283. The company has a 50 day simple moving average of $279.50 and a two-hundred day simple moving average of $291.10. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.13 and a quick ratio of 1.13. Morningstar, Inc. has a one year low of $250.34 and a one year high of $365.00. The firm has a market capitalization of $10.80 billion, a price-to-earnings ratio of 27.26 and a beta of 1.01.

Morningstar (NASDAQ:MORN - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The business services provider reported $2.40 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 firm had revenue of $605.10 million during the quarter, compared to the consensus estimate of $605.84 million.

Insider Buying and Selling

In other Morningstar news, Chairman Joseph D. Mansueto sold 7,250 shares of the firm's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $256.50, for a total value of $1,859,625.00. Following the completion of the transaction, the chairman directly owned 9,373,175 shares of the company's stock, valued at $2,404,219,387.50. This trade represents a 0.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders have sold 85,500 shares of company stock valued at $22,341,957. 36.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

MORN has been the subject of several research analyst reports. Wall Street Zen lowered shares of Morningstar from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. BMO Capital Markets lifted their price objective on shares of Morningstar from $339.00 to $355.00 and gave the company an "outperform" rating in a research note on Monday, May 12th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average 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.