Voya Investment Management LLC Buys 1,081 Shares of Morningstar, Inc. $MORN

Key Points

• Voya Investment Management LLC increased its stake in Morningstar, Inc. by 9.1%, owning 12,940 shares worth approximately $3.88 million as of the latest SEC filing.
• Morningstar's stock was recently downgraded from a "buy" to a "hold" rating by Wall Street Zen, with an average target price of $361.67.
• Insider selling included Chairman Joseph D. Mansueto, who sold 6,705 shares valued at about $1.75 million, representing a 0.07% decrease in his ownership.

Voya Investment Management LLC boosted its position in Morningstar, Inc. (NASDAQ:MORN - Free Report) by 9.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,940 shares of the business services provider's stock after purchasing an additional 1,081 shares during the period. Voya Investment Management LLC's holdings in Morningstar were worth $3,880,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Hughes Financial Services LLC acquired a new position in Morningstar during the first quarter worth $25,000. Larson Financial Group LLC increased its holdings in Morningstar by 5,066.7% in the first quarter. Larson Financial Group LLC now owns 155 shares of the business services provider's stock valued at $46,000 after buying an additional 152 shares in the last quarter. MAI Capital Management increased its holdings in Morningstar by 37.8% in the first 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 in the last quarter. Blue Trust Inc. increased its holdings in Morningstar by 172.3% in the first quarter. Blue Trust Inc. now owns 177 shares of the business services provider's stock valued at $53,000 after buying an additional 112 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings 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 worth $53,000 after acquiring an additional 34 shares during the period. 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 firm's stock in a transaction dated 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 sale, the chairman owned 9,373,175 shares in the company, valued at approximately $2,404,219,387.50. This trade represents a 0.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 85,500 shares of company stock valued at $22,341,957 over the last quarter. 36.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

Morningstar Stock Up 0.6%

NASDAQ:MORN traded up $1.37 during trading hours on Tuesday, reaching $235.48. The company's stock had a trading volume of 32,720 shares, compared to its average volume of 245,685. The business's 50-day moving average is $263.74 and its 200-day moving average is $284.62. 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 $230.86 and a one year high of $365.00. The company has a market cap of $9.93 billion, a price-to-earnings ratio of 25.08 and a beta of 1.01.

Morningstar (NASDAQ:MORN - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The business services provider reported $2.40 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 for the quarter, compared to analyst estimates of $605.84 million.

Morningstar Company 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.