New York State Teachers Retirement System Buys 100 Shares of Morningstar, Inc. $MORN

New York State Teachers Retirement System increased its stake in shares of Morningstar, Inc. (NASDAQ:MORN) by 1.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,000 shares of the business services provider’s stock after acquiring an additional 100 shares during the quarter. New York State Teachers Retirement System’s holdings in Morningstar were worth $1,884,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of MORN. Hughes Financial Services LLC purchased a new stake in Morningstar in the 1st quarter worth $25,000. IFP Advisors Inc raised its holdings 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 worth $43,000 after acquiring an additional 100 shares in the last quarter. Larson Financial Group LLC boosted 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 acquiring an additional 152 shares during the last quarter. MAI Capital Management grew its holdings in shares of Morningstar by 37.8% in the first quarter. MAI Capital Management now owns 153 shares of the business services provider’s stock valued at $46,000 after purchasing an additional 42 shares in the last quarter. Finally, Blue Trust Inc. increased its position in Morningstar by 172.3% in the first quarter. Blue Trust Inc. now owns 177 shares of the business services provider’s stock worth $53,000 after purchasing an additional 112 shares during the last quarter. 57.02% of the stock is currently owned by institutional investors.

Morningstar Price Performance

Shares of MORN stock opened at $221.61 on Wednesday. The stock has a 50 day moving average price of $243.24 and a 200 day moving average price of $274.89. Morningstar, Inc. has a 52-week low of $210.02 and a 52-week high of $365.00. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a market capitalization of $9.35 billion, a P/E ratio of 23.60 and a beta of 1.00.

Morningstar (NASDAQ:MORN) last announced its quarterly earnings data on Wednesday, July 30th. The business services provider reported $2.40 EPS for the quarter, beating the consensus estimate of $2.21 by $0.19. Morningstar had a return on equity of 23.54% and a net margin of 17.22%.The company had revenue of $605.10 million for the quarter, compared to the consensus estimate of $605.84 million.

Insider Buying and Selling

In related news, Chairman Joseph D. Mansueto sold 7,250 shares of Morningstar stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $256.50, for a total transaction of $1,859,625.00. Following the completion of the sale, 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 filing with the SEC, which is available through the SEC website. Over the last quarter, insiders have sold 85,500 shares of company stock valued at $22,341,957. Company insiders own 36.20% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on MORN shares. Wall Street Zen cut Morningstar from a “buy” rating to a “hold” rating in a research note on Saturday, July 5th. Weiss Ratings reissued 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 assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $355.00.

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.