Oppenheimer Asset Management Inc. Trims Stock Holdings in Morningstar, Inc. $MORN

Oppenheimer Asset Management Inc. reduced its position in Morningstar, Inc. (NASDAQ:MORN) by 5.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,238 shares of the business services provider’s stock after selling 823 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Morningstar were worth $4,156,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Hughes Financial Services LLC acquired a new stake in Morningstar during the 1st quarter worth $25,000. IFP Advisors Inc raised its holdings in shares of Morningstar by 270.3% in the second quarter. IFP Advisors Inc now owns 137 shares of the business services provider’s stock valued at $43,000 after buying an additional 100 shares during the last quarter. MAI Capital Management boosted its stake in shares of 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 buying an additional 42 shares during the period. Larson Financial Group LLC grew its holdings in shares of Morningstar by 5,066.7% during the first quarter. Larson Financial Group LLC now owns 155 shares of the business services provider’s stock worth $46,000 after buying an additional 152 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in 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 acquiring an additional 34 shares during the period. 57.02% of the stock is owned by institutional investors and hedge funds.

Morningstar Stock Down 0.1%

MORN opened at $218.12 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.13 and a quick ratio of 1.13. The business has a 50 day simple moving average of $239.17 and a 200-day simple moving average of $273.30. The stock has a market capitalization of $9.20 billion, a P/E ratio of 23.23 and a beta of 1.00. Morningstar, Inc. has a 12 month low of $210.02 and a 12 month high of $365.00.

Morningstar (NASDAQ:MORN) last announced its quarterly earnings data on Wednesday, July 30th. The business services provider reported $2.40 earnings per share 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 firm had revenue of $605.10 million for the quarter, compared to analyst estimates of $605.84 million.

Insider Buying and Selling at Morningstar

In other news, Chairman Joseph D. Mansueto sold 7,250 shares of the 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 transaction, the chairman owned 9,373,175 shares in the company, 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 SEC, which is available through this hyperlink. Over the last 90 days, insiders have sold 85,500 shares of company stock worth $22,341,957. Corporate insiders own 36.20% of the company’s stock.

Analysts Set New Price Targets

MORN has been the subject of a number of recent research reports. Wall Street Zen cut Morningstar from a “buy” rating to a “hold” rating in a research report on Saturday, July 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Morningstar in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $355.00.

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.