Bank of America Corp DE Buys 1,212,570 Shares of Morningstar, Inc. (NASDAQ:MORN)

Bank of America Corp DE increased its stake in Morningstar, Inc. (NASDAQ:MORNGet Rating) by 866.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,352,449 shares of the business services provider’s stock after purchasing an additional 1,212,570 shares during the quarter. Bank of America Corp DE’s holdings in Morningstar were worth $369,449,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Select Equity Group L.P. increased its stake in Morningstar by 16.5% in the 4th quarter. Select Equity Group L.P. now owns 4,850,288 shares of the business services provider’s stock worth $1,658,750,000 after buying an additional 688,048 shares in the last quarter. Vanguard Group Inc. increased its stake in Morningstar by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 2,403,202 shares of the business services provider’s stock worth $656,482,000 after buying an additional 129,956 shares in the last quarter. BlackRock Inc. increased its stake in Morningstar by 1.6% in the 1st quarter. BlackRock Inc. now owns 1,069,710 shares of the business services provider’s stock worth $292,213,000 after buying an additional 16,952 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Morningstar by 27.3% in the 1st quarter. JPMorgan Chase & Co. now owns 733,609 shares of the business services provider’s stock worth $200,402,000 after buying an additional 157,262 shares in the last quarter. Finally, Pendal Group Ltd increased its stake in Morningstar by 0.6% in the 1st quarter. Pendal Group Ltd now owns 444,272 shares of the business services provider’s stock worth $121,362,000 after buying an additional 2,735 shares in the last quarter. 54.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, TheStreet lowered Morningstar from a “b-” rating to a “c+” rating in a research note on Tuesday, September 6th.

Insider Activity

In other news, Chairman Joseph D. Mansueto sold 14,500 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $245.43, for a total transaction of $3,558,735.00. Following the completion of the transaction, the chairman now owns 12,408,580 shares in the company, valued at $3,045,437,789.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Chairman Joseph D. Mansueto sold 10,529 shares of Morningstar stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $255.32, for a total value of $2,688,264.28. Following the completion of the transaction, the chairman now owns 12,378,813 shares in the company, valued at $3,160,558,535.16. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Joseph D. Mansueto sold 14,500 shares of Morningstar stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $245.43, for a total value of $3,558,735.00. Following the completion of the transaction, the chairman now owns 12,408,580 shares of the company’s stock, valued at approximately $3,045,437,789.40. The disclosure for this sale can be found here. Insiders sold a total of 69,995 shares of company stock worth $17,090,340 over the last 90 days. Corporate insiders own 45.70% of the company’s stock.

Morningstar Trading Down 1.4 %

Shares of Morningstar stock opened at $224.56 on Monday. The firm has a market cap of $9.54 billion, a price-to-earnings ratio of 53.59 and a beta of 1.13. The business has a 50-day moving average price of $241.35 and a 200-day moving average price of $250.61. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.92. Morningstar, Inc. has a twelve month low of $218.25 and a twelve month high of $350.21.

Morningstar Profile

(Get Rating)

Morningstar, Inc provides independent investment research services in North America, Europe, Australia, and Asia. The company offers web-based tools; investment data, fundamental equity and manager research, private capital markets research, credit and fund rating, and index, as well as environmental, social, and governance (ESG) rating services; and investment offerings, including managed investment products, publicly listed and private companies, fixed income securities, and real-time global market data for financial advisors, asset managers, retirement plan providers and sponsors, and individual and institutional investors.

See Also

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Institutional Ownership by Quarter for Morningstar (NASDAQ:MORN)

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