United Services Automobile Association Makes New Investment in Morningstar, Inc. $MORN

Key Points

• United Services Automobile Association invested approximately $523,000 in Morningstar, Inc. by purchasing 1,765 shares during the 1st quarter of the year.
• Several institutional investors have increased their holdings significantly in Morningstar, including Millennium Management with an 88.0% increase and GAMMA Investing by 30,785.9%.
• Morningstar's stock has seen a recent downgrade from a "buy" rating to a "hold" rating, with an average target price set at $361.67 by analysts.

United Services Automobile Association purchased a new position in Morningstar, Inc. (NASDAQ:MORN - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,765 shares of the business services provider's stock, valued at approximately $523,000.

Several other institutional investors and hedge funds have also modified their holdings of MORN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Morningstar by 23.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 178 shares of the business services provider's stock worth $53,000 after buying an additional 34 shares in the last quarter. Deutsche Bank AG grew its holdings in shares of Morningstar by 2.4% during the fourth quarter. Deutsche Bank AG now owns 1,798 shares of the business services provider's stock worth $605,000 after buying an additional 42 shares in the last quarter. Ballentine Partners LLC lifted its stake in shares of Morningstar by 3.4% in the first quarter. Ballentine Partners LLC now owns 1,290 shares of the business services provider's stock worth $387,000 after buying an additional 42 shares in the last quarter. MAI Capital Management boosted its position in Morningstar by 37.8% during the first quarter. MAI Capital Management now owns 153 shares of the business services provider's stock worth $46,000 after acquiring an additional 42 shares during the last quarter. Finally, Compound Planning Inc. boosted its holdings in shares of Morningstar by 6.6% during the 1st quarter. Compound Planning Inc. now owns 777 shares of the business services provider's stock worth $233,000 after purchasing an additional 48 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 7,250 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $256.50, for a total transaction of $1,859,625.00. Following the completion of the transaction, the chairman owned 9,373,175 shares in the company, valued at $2,404,219,387.50. The trade was a 0.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last ninety days, insiders sold 85,500 shares of company stock worth $22,341,957. Insiders own 36.20% of the company's stock.

Wall Street Analysts Forecast Growth

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

Morningstar Trading Up 0.1%

NASDAQ:MORN traded up $0.17 on Friday, reaching $257.14. The company's stock had a trading volume of 833,099 shares, compared to its average volume of 317,883. Morningstar, Inc. has a 12-month low of $249.56 and a 12-month high of $365.00. The stock has a 50 day moving average price of $270.70 and a 200 day moving average price of $287.32. The firm has a market cap of $10.85 billion, a price-to-earnings ratio of 27.38 and a beta of 1.01. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.52.

Morningstar (NASDAQ:MORN - Get Free Report) last posted its earnings results on Wednesday, July 30th. The business services provider reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.19. The firm 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%.

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.