Raymond James & Associates Reduces Position in Morningstar, Inc. (NASDAQ:MORN)

Raymond James & Associates decreased its stake in shares of Morningstar, Inc. (NASDAQ:MORN – Get Rating) by 0.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,228 shares of the business services provider’s stock after selling 120 shares during the period. Raymond James & Associates’ holdings in Morningstar were worth $3,731,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Treasurer of the State of North Carolina increased its position in Morningstar by 1.2% during the third quarter. Treasurer of the State of North Carolina now owns 10,652 shares of the business services provider’s stock worth $2,262,000 after buying an additional 130 shares in the last quarter. Legacy Advisors LLC grew its position in shares of Morningstar by 32.4% in the third quarter. Legacy Advisors LLC now owns 1,827 shares of the business services provider’s stock valued at $388,000 after purchasing an additional 447 shares during the period. Russell Investments Group Ltd. grew its position in shares of Morningstar by 112.9% in the third quarter. Russell Investments Group Ltd. now owns 21,585 shares of the business services provider’s stock valued at $4,580,000 after purchasing an additional 11,447 shares during the period. Fisher Asset Management LLC grew its position in shares of Morningstar by 4.6% in the third quarter. Fisher Asset Management LLC now owns 28,844 shares of the business services provider’s stock valued at $6,124,000 after purchasing an additional 1,279 shares during the period. Finally, Ashford Capital Management Inc. grew its position in shares of Morningstar by 3.5% in the third quarter. Ashford Capital Management Inc. now owns 6,608 shares of the business services provider’s stock valued at $1,403,000 after purchasing an additional 223 shares during the period. Hedge funds and other institutional investors own 54.79% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on Morningstar in a report on Thursday, May 18th. They issued a “hold” rating on the stock.

Morningstar Trading Up 0.3 %

Shares of MORN opened at $197.31 on Friday. The stock’s 50-day moving average is $194.67 and its two-hundred day moving average is $217.19. The stock has a market cap of $8.40 billion, a PE ratio of 505.94 and a beta of 1.19. Morningstar, Inc. has a 12 month low of $163.28 and a 12 month high of $263.81. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.93 and a quick ratio of 0.93.

Morningstar (NASDAQ:MORN – Get Rating) last issued its quarterly earnings data on Thursday, February 23rd. The business services provider reported $0.58 EPS for the quarter. The company had revenue of $475.00 million for the quarter. Morningstar had a return on equity of 10.63% and a net margin of 0.89%.

Insiders Place Their Bets

In other Morningstar news, Chairman Joseph D. Mansueto sold 14,500 shares of the business’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $207.07, for a total transaction of $3,002,515.00. Following the transaction, the chairman now owns 11,555,781 shares in the company, valued at $2,392,855,571.67. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Caroline J. Tsay sold 651 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $191.32, for a total transaction of $124,549.32. Following the completion of the transaction, the director now directly owns 3,576 shares in the company, valued at $684,160.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Joseph D. Mansueto sold 14,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $207.07, for a total value of $3,002,515.00. Following the transaction, the chairman now owns 11,555,781 shares of the company’s stock, valued at $2,392,855,571.67. The disclosure for this sale can be found here. Insiders have sold a total of 82,485 shares of company stock worth $16,699,795 over the last quarter. 39.90% of the stock is owned by corporate insiders.

Morningstar Profile

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Morningstar, Inc engages in the provision of investment research. It offers Morningstar data, direct, investment management, advisor workstation, workplace solutions, pitchbook data, enterprise components, research, credit ratings and indexes. The company was founded by Joseph D. Mansueto on May 16, 1984, and is headquartered in Chicago, IL.