Morningstar, Inc. $MORN Stake Increased by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

Key Points

• UBS Asset Management increased its stake in Morningstar, Inc. (NASDAQ:MORN) by 11.1% during the first quarter, now owning approximately 0.26% of the company valued at $32.76 million.
• Morningstar recently experienced a downgrade from a "buy" to a "hold" rating by Wall Street Zen, with analysts maintaining an average target price of $361.67.
• The company's latest quarterly earnings report showed an EPS of $2.40, exceeding expectations, despite revenues slightly falling short of estimates at $605.10 million.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Morningstar, Inc. (NASDAQ:MORN - Free Report) by 11.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 109,257 shares of the business services provider's stock after acquiring an additional 10,920 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.26% of Morningstar worth $32,763,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Morningstar by 23.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 178 shares of the business services provider's stock valued at $53,000 after purchasing an additional 34 shares during the last quarter. Deutsche Bank AG grew its stake in shares of Morningstar by 2.4% in the 4th quarter. Deutsche Bank AG now owns 1,798 shares of the business services provider's stock valued at $605,000 after purchasing an additional 42 shares during the last quarter. Ballentine Partners LLC lifted its holdings in shares of Morningstar by 3.4% in the 1st quarter. Ballentine Partners LLC now owns 1,290 shares of the business services provider's stock valued at $387,000 after buying an additional 42 shares during the period. MAI Capital Management lifted its holdings in shares of Morningstar by 37.8% in the 1st 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 period. Finally, Compound Planning Inc. lifted its holdings in shares of Morningstar by 6.6% in the 1st quarter. Compound Planning Inc. now owns 777 shares of the business services provider's stock valued at $233,000 after buying an additional 48 shares during the period. Hedge funds and other institutional investors own 57.02% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen cut Morningstar from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $361.67.

Insider Buying and Selling at Morningstar

In other news, Chairman Joseph D. Mansueto sold 6,705 shares of the firm's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $260.65, for a total transaction of $1,747,658.25. Following the completion of the sale, the chairman directly owned 9,312,836 shares of the company's stock, valued at $2,427,390,703.40. This trade represents a 0.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders sold 85,500 shares of company stock worth $22,341,957. Company insiders own 36.20% of the company's stock.

Morningstar Stock Up 0.0%

NASDAQ MORN traded up $0.04 on Wednesday, hitting $248.92. 421,990 shares of the stock traded hands, compared to its average volume of 359,990. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.52. The stock has a 50-day moving average of $267.42 and a 200 day moving average of $286.16. The company has a market capitalization of $10.50 billion, a P/E ratio of 26.51 and a beta of 1.01. Morningstar, Inc. has a twelve month low of $244.44 and a twelve month high of $365.00.

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

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.