Arizona State Retirement System Boosts Stake in Morningstar, Inc. (NASDAQ:MORN)

Posted by Defense World Staff on May 12th, 2023

Arizona State Retirement System boosted its stake in shares of Morningstar, Inc. (NASDAQ:MORN – Get Rating) by 3.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,192 shares of the business services provider’s stock after buying an additional 225 shares during the period. Arizona State Retirement System’s holdings in Morningstar were worth $1,558,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Mawer Investment Management Ltd. lifted its holdings in shares of Morningstar by 22.0% during the 4th quarter. Mawer Investment Management Ltd. now owns 5,662 shares of the business services provider’s stock valued at $1,226,000 after purchasing an additional 1,020 shares during the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of Morningstar by 51.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 7,652 shares of the business services provider’s stock valued at $1,657,000 after purchasing an additional 2,587 shares during the last quarter. Benjamin Edwards Inc. purchased a new stake in shares of Morningstar during the 4th quarter valued at $27,000. LPL Financial LLC lifted its holdings in shares of Morningstar by 8.9% during the 4th quarter. LPL Financial LLC now owns 1,768 shares of the business services provider’s stock valued at $383,000 after purchasing an additional 145 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Morningstar by 13.6% during the 4th quarter. Envestnet Asset Management Inc. now owns 15,273 shares of the business services provider’s stock valued at $3,308,000 after purchasing an additional 1,833 shares during the last quarter. Hedge funds and other institutional investors own 54.79% of the company’s stock.

Insider Transactions at Morningstar

In related news, Chairman Joseph D. Mansueto sold 7,948 shares of the firm’s stock in a transaction dated Monday, March 20th. The shares were sold at an average price of $183.63, for a total value of $1,459,491.24. Following the transaction, the chairman now directly owns 11,474,376 shares of the company’s stock, valued at approximately $2,107,039,664.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Morningstar news, Chairman Joseph D. Mansueto sold 7,948 shares of the firm’s stock in a transaction that occurred on Monday, March 20th. The shares were sold at an average price of $183.63, for a total value of $1,459,491.24. Following the transaction, the chairman now directly owns 11,474,376 shares of the company’s stock, valued at approximately $2,107,039,664.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Joseph D. Mansueto sold 6,362 shares of the firm’s stock in a transaction that occurred on Wednesday, February 15th. The stock was sold at an average price of $238.44, for a total transaction of $1,516,955.28. Following the completion of the transaction, the chairman now directly owns 11,620,972 shares in the company, valued at $2,770,904,563.68. The disclosure for this sale can be found here. Insiders have sold a total of 110,893 shares of company stock valued at $23,435,667 in the last ninety days. 39.90% of the stock is currently owned by corporate insiders.

Morningstar Price Performance

Shares of MORN opened at $189.50 on Friday. The business’s 50-day moving average is $195.42 and its two-hundred day moving average is $219.65. The company has a market capitalization of $8.06 billion, a P/E ratio of 485.91 and a beta of 1.19. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.93 and a current ratio of 0.93. Morningstar, Inc. has a fifty-two week low of $163.28 and a fifty-two week high of $263.81.

Morningstar (NASDAQ:MORN – Get Rating) last posted its earnings results on Thursday, February 23rd. The business services provider reported $0.58 earnings per share (EPS) for the quarter. Morningstar had a net margin of 0.89% and a return on equity of 10.63%. The business had revenue of $475.00 million for the quarter.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on Morningstar in a report on Thursday, March 16th. They set a “hold” rating for the company.

Morningstar Company Profile

(Get Rating)

Morningstar, Inc engages in the provision of investment research. It offers Morningstar data, direct, investment management, advisor workstation, workplace solutions, pitchbook data, enterprise components, research, credit ratings and indexes. The company was founded by Joseph D. Mansueto on May 16, 1984, and is headquartered in Chicago, IL.