Confluence Investment Management LLC Purchases 10,794 Shares of Morningstar, Inc. $MORN

Confluence Investment Management LLC lifted its position in shares of Morningstar, Inc. (NASDAQ:MORN) by 17.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 71,033 shares of the business services provider’s stock after purchasing an additional 10,794 shares during the period. Confluence Investment Management LLC’s holdings in Morningstar were worth $15,436,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Creative Planning grew its holdings in Morningstar by 75.3% during the 2nd quarter. Creative Planning now owns 4,506 shares of the business services provider’s stock worth $1,415,000 after acquiring an additional 1,936 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Morningstar by 32.0% during the third quarter. Principal Financial Group Inc. now owns 91,155 shares of the business services provider’s stock valued at $21,149,000 after acquiring an additional 22,109 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Morningstar by 17.7% during the second quarter. JPMorgan Chase & Co. now owns 236,324 shares of the business services provider’s stock valued at $74,191,000 after acquiring an additional 35,561 shares during the last quarter. Chicago Capital LLC lifted its holdings in shares of Morningstar by 24.2% during the third quarter. Chicago Capital LLC now owns 70,042 shares of the business services provider’s stock worth $16,251,000 after purchasing an additional 13,627 shares during the period. Finally, Intech Investment Management LLC bought a new stake in shares of Morningstar in the third quarter worth $1,713,000. Institutional investors and hedge funds own 57.02% of the company’s stock.

Wall Street Analysts Forecast Growth

MORN has been the subject of a number of recent research reports. UBS Group set a $280.00 price objective on Morningstar in a report on Friday, February 13th. Weiss Ratings lowered Morningstar from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, March 12th. BMO Capital Markets decreased their price target on Morningstar from $257.00 to $193.00 and set an “outperform” rating for the company in a research note on Tuesday, February 17th. Finally, Wall Street Zen upgraded Morningstar from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $236.50.

Insider Transactions at Morningstar

In other Morningstar news, Chairman Joseph D. Mansueto sold 7,304 shares of the stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $160.63, for a total transaction of $1,173,241.52. Following the transaction, the chairman directly owned 8,184,212 shares in the company, valued at approximately $1,314,629,973.56. This represents a 0.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 85,243 shares of company stock valued at $14,219,154 over the last quarter. 36.20% of the stock is currently owned by insiders.

Morningstar Stock Performance

Shares of Morningstar stock opened at $184.87 on Friday. The business has a 50-day moving average price of $186.25 and a two-hundred day moving average price of $210.50. Morningstar, Inc. has a 1-year low of $149.08 and a 1-year high of $316.71. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.88. The company has a market cap of $7.32 billion, a P/E ratio of 20.75 and a beta of 1.10.

Morningstar (NASDAQ:MORN) last announced its quarterly earnings data on Thursday, February 12th. The business services provider reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.34 by $0.37. Morningstar had a return on equity of 27.94% and a net margin of 15.30%.The company had revenue of $641.10 million for the quarter, compared to the consensus estimate of $634.43 million.

About Morningstar

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.