Callan Family Office LLC Buys New Position in Morningstar, Inc. (NASDAQ:MORN)

Callan Family Office LLC bought a new stake in shares of Morningstar, Inc. (NASDAQ:MORN) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 782 shares of the business services provider’s stock, valued at approximately $263,000.

Several other hedge funds also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA boosted its position in shares of Morningstar by 9.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,201,708 shares of the business services provider’s stock valued at $383,489,000 after buying an additional 102,206 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Morningstar by 0.5% during the third quarter. Wellington Management Group LLP now owns 950,512 shares of the business services provider’s stock valued at $303,327,000 after buying an additional 5,158 shares during the last quarter. State Street Corp boosted its position in shares of Morningstar by 3.7% during the third quarter. State Street Corp now owns 804,293 shares of the business services provider’s stock valued at $256,666,000 after buying an additional 28,698 shares during the last quarter. Wasatch Advisors LP lifted its holdings in Morningstar by 13.9% during the third quarter. Wasatch Advisors LP now owns 696,023 shares of the business services provider’s stock worth $222,115,000 after acquiring an additional 85,098 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Morningstar by 2.1% during the third quarter. Geode Capital Management LLC now owns 497,411 shares of the business services provider’s stock worth $158,772,000 after acquiring an additional 10,437 shares during the period. Hedge funds and other institutional investors own 57.02% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. StockNews.com upgraded Morningstar from a “hold” rating to a “buy” rating in a report on Thursday, February 27th. BMO Capital Markets dropped their price target on Morningstar from $387.00 to $370.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd.

Insider Buying and Selling at Morningstar

In other news, Chairman Joseph D. Mansueto sold 3,635 shares of Morningstar stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $325.44, for a total value of $1,182,974.40. Following the completion of the transaction, the chairman now directly owns 10,142,694 shares in the company, valued at approximately $3,300,838,335.36. The trade was a 0.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jason Dubinsky sold 3,223 shares of Morningstar stock in a transaction on Friday, December 13th. The shares were sold at an average price of $352.88, for a total value of $1,137,332.24. Following the completion of the transaction, the chief financial officer now owns 17,304 shares of the company’s stock, valued at approximately $6,106,235.52. This trade represents a 15.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 53,703 shares of company stock worth $17,349,106 over the last ninety days. 39.90% of the stock is currently owned by company insiders.

Morningstar Stock Performance

Shares of Morningstar stock opened at $282.51 on Tuesday. The firm has a market capitalization of $12.10 billion, a P/E ratio of 37.32 and a beta of 1.23. The business’s fifty day simple moving average is $322.38 and its 200 day simple moving average is $329.58. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.55. Morningstar, Inc. has a 12 month low of $281.37 and a 12 month high of $365.00.

Morningstar (NASDAQ:MORN) last issued its earnings results on Wednesday, February 26th. The business services provider reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.15. The firm had revenue of $591.00 million for the quarter, compared to analyst estimates of $580.81 million. Morningstar had a return on equity of 23.28% and a net margin of 14.69%.

About Morningstar

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.