Sei Investments Co. Boosts Stake in Morningstar, Inc. $MORN

Sei Investments Co. boosted its position in shares of Morningstar, Inc. (NASDAQ:MORN) by 219.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 189,302 shares of the business services provider’s stock after buying an additional 130,035 shares during the period. Sei Investments Co.’s holdings in Morningstar were worth $32,002,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Morningstar in the 4th quarter worth approximately $25,000. Cassaday & Co Wealth Management LLC bought a new position in shares of Morningstar during the 1st quarter valued at approximately $26,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Morningstar in the third quarter valued at $26,000. Osterweis Capital Management Inc. bought a new stake in Morningstar in the second quarter worth $29,000. Finally, V Square Quantitative Management LLC bought a new stake in Morningstar in the fourth quarter worth $35,000. Hedge funds and other institutional investors own 57.02% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. UBS Group lowered their price objective on shares of Morningstar from $280.00 to $260.00 and set a “buy” rating for the company in a research report on Tuesday, July 7th. Wall Street Zen upgraded shares of Morningstar from a “hold” rating to a “buy” rating in a report on Sunday, June 21st. Rothschild & Co Redburn set a $210.00 target price on shares of Morningstar in a research report on Thursday, June 18th. Weiss Ratings raised shares of Morningstar from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, July 15th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $212.00 price target on shares of Morningstar in a research report on Friday, June 26th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Morningstar currently has a consensus rating of “Moderate Buy” and an average price target of $227.33.

Insider Buying and Selling

In related news, Chairman Joseph D. Mansueto sold 7,250 shares of the stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $166.23, for a total value of $1,205,167.50. Following the sale, the chairman directly owned 8,114,492 shares of the company’s stock, valued at $1,348,872,005.16. This represents a 0.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 64,720 shares of company stock worth $11,169,471. Corporate insiders own 38.80% of the company’s stock.

Morningstar Stock Up 5.7%

NASDAQ MORN opened at $182.43 on Tuesday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.66. Morningstar, Inc. has a 52 week low of $141.49 and a 52 week high of $289.63. The firm has a market capitalization of $6.94 billion, a price-to-earnings ratio of 18.58 and a beta of 1.01. The company has a fifty day moving average of $170.64 and a two-hundred day moving average of $177.63.

Morningstar (NASDAQ:MORN) last announced its earnings results on Wednesday, April 29th. The business services provider reported $3.18 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.77. The business had revenue of $644.80 million for the quarter, compared to the consensus estimate of $626.91 million. Morningstar had a net margin of 16.06% and a return on equity of 33.14%.

Morningstar Company Profile

Morningstar, Inc is a leading provider of independent investment research, data, and analytics, serving both individual investors and financial professionals. The company offers comprehensive coverage of financial products, including mutual funds, exchange-traded funds (ETFs), stocks, bonds and market indexes. Morningstar’s proprietary rating systems and research methodologies help clients assess the risk and return profiles of investment opportunities and make informed decisions.

Its core products include Morningstar Direct, an institutional investment analysis platform; Morningstar Office Cloud, a portfolio management solution for advisors; and Morningstar Data, which delivers extensive datasets through APIs and data feeds.