Glenview Trust co Buys New Shares in Morningstar, Inc. (NASDAQ:MORN)

Glenview Trust co bought a new stake in Morningstar, Inc. (NASDAQ:MORN) in the fourth quarter, HoldingsChannel reports. The fund bought 674 shares of the business services provider’s stock, valued at approximately $227,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Envestnet Portfolio Solutions Inc. grew its holdings in Morningstar by 26.4% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 1,269 shares of the business services provider’s stock valued at $427,000 after purchasing an additional 265 shares during the period. Catalyst Funds Management Pty Ltd purchased a new stake in Morningstar in the fourth quarter valued at approximately $547,000. Commonwealth Equity Services LLC grew its holdings in Morningstar by 27.5% in the fourth quarter. Commonwealth Equity Services LLC now owns 1,821 shares of the business services provider’s stock valued at $613,000 after purchasing an additional 393 shares during the period. Swiss National Bank grew its holdings in Morningstar by 1.1% in the fourth quarter. Swiss National Bank now owns 54,800 shares of the business services provider’s stock valued at $18,454,000 after purchasing an additional 600 shares during the period. Finally, Farther Finance Advisors LLC grew its holdings in Morningstar by 123.6% in the fourth quarter. Farther Finance Advisors LLC now owns 407 shares of the business services provider’s stock valued at $137,000 after purchasing an additional 225 shares during the period. 57.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MORN has been the subject of several research reports. StockNews.com downgraded shares of Morningstar from a “buy” rating to a “hold” rating in a research note on Monday. BMO Capital Markets decreased their price objective on shares of Morningstar from $387.00 to $370.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd.

Morningstar Price Performance

MORN opened at $291.71 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.55. Morningstar, Inc. has a 52-week low of $278.64 and a 52-week high of $365.00. The company has a 50 day moving average of $317.13 and a two-hundred day moving average of $328.55. The company has a market cap of $12.50 billion, a P/E ratio of 38.54 and a beta of 1.23.

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

Insider Transactions at Morningstar

In other news, Chairman Joseph D. Mansueto sold 1,716 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $327.89, for a total transaction of $562,659.24. Following the transaction, the chairman now directly owns 10,151,120 shares of the company’s stock, valued at approximately $3,328,450,736.80. The trade was a 0.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 59,544 shares of company stock valued at $18,770,097. Corporate insiders own 39.90% 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.