M&G PLC Cuts Stock Holdings in Morningstar, Inc. $MORN

M&G PLC cut its position in shares of Morningstar, Inc. (NASDAQ:MORN) by 2.8% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 163,887 shares of the business services provider’s stock after selling 4,790 shares during the quarter. M&G PLC’s holdings in Morningstar were worth $51,461,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. IFP Advisors Inc grew its position in shares of Morningstar by 270.3% during the 2nd quarter. IFP Advisors Inc now owns 137 shares of the business services provider’s stock valued at $43,000 after acquiring an additional 100 shares during the period. Larson Financial Group LLC lifted its position in shares of Morningstar by 5,066.7% during the 1st 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 1st quarter. MAI Capital Management now owns 153 shares of the business services provider’s stock worth $46,000 after acquiring an additional 42 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings 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 worth $53,000 after acquiring an additional 34 shares in the last quarter. Finally, American National Bank & Trust acquired a new position in Morningstar during the second quarter worth $57,000. Institutional investors and hedge funds own 57.02% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on MORN. BMO Capital Markets set a $250.00 price target on shares of Morningstar in a research report on Thursday, October 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Morningstar in a research note on Wednesday, October 8th. Finally, UBS Group cut their price target on Morningstar from $350.00 to $320.00 and set a “buy” rating for the company in a report on Thursday, October 30th. Two research 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 stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $285.00.

Morningstar Trading Down 0.2%

Shares of MORN stock opened at $214.54 on Wednesday. The company has a 50-day moving average of $229.49 and a two-hundred day moving average of $268.79. The firm has a market cap of $8.82 billion, a PE ratio of 24.41 and a beta of 1.06. Morningstar, Inc. has a 1-year low of $202.89 and a 1-year high of $365.00. 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 (NASDAQ:MORN) last announced its earnings results on Wednesday, October 29th. The business services provider reported $2.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.42 by $0.13. Morningstar had a return on equity of 24.68% and a net margin of 15.70%.The company had revenue of $617.40 million for the quarter, compared to analyst estimates of $603.29 million.

Insider Buying and Selling

In other news, Chairman Joseph D. Mansueto sold 7,250 shares of the firm’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $260.30, for a total value of $1,887,175.00. Following the sale, the chairman directly owned 9,332,981 shares in the company, valued at approximately $2,429,374,954.30. This trade represents a 0.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders have sold 71,350 shares of company stock worth $17,350,692. Insiders own 36.20% of the company’s stock.

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.