Kensington Investment Counsel LLC Acquires 67 Shares of Morningstar, Inc. (NASDAQ:MORN)

Kensington Investment Counsel LLC lifted its holdings in shares of Morningstar, Inc. (NASDAQ:MORN) by 0.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,682 shares of the business services provider’s stock after purchasing an additional 67 shares during the quarter. Morningstar accounts for 1.5% of Kensington Investment Counsel LLC’s holdings, making the stock its 23rd largest position. Kensington Investment Counsel LLC’s holdings in Morningstar were worth $3,597,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Nicholas Company Inc. increased its holdings in shares of Morningstar by 115.2% during the fourth quarter. Nicholas Company Inc. now owns 56,630 shares of the business services provider’s stock worth $19,071,000 after purchasing an additional 30,320 shares during the period. Glenview Trust co acquired a new stake in shares of Morningstar during the 4th quarter worth approximately $227,000. Envestnet Portfolio Solutions Inc. boosted its position in shares of Morningstar by 26.4% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,269 shares of the business services provider’s stock worth $427,000 after acquiring an additional 265 shares in the last quarter. Catalyst Funds Management Pty Ltd acquired a new stake in shares of Morningstar during the 4th quarter worth approximately $547,000. Finally, Commonwealth Equity Services LLC boosted its position in shares of Morningstar by 27.5% during the 4th quarter. Commonwealth Equity Services LLC now owns 1,821 shares of the business services provider’s stock worth $613,000 after acquiring an additional 393 shares in the last quarter. 57.02% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. BMO Capital Markets reduced their price target on shares of Morningstar from $387.00 to $370.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. StockNews.com lowered shares of Morningstar from a “buy” rating to a “hold” rating in a research report on Monday.

Morningstar Stock Performance

Shares of Morningstar stock opened at $291.09 on Tuesday. Morningstar, Inc. has a fifty-two week low of $278.64 and a fifty-two week high of $365.00. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a market capitalization of $12.47 billion, a P/E ratio of 38.45 and a beta of 1.23. The company’s 50 day moving average price is $317.71 and its two-hundred day moving average price is $328.70.

Morningstar (NASDAQ:MORN) last issued its earnings results on Wednesday, February 26th. The business services provider reported $2.14 earnings per share for the quarter, beating 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 firm had revenue of $591.00 million for the quarter, compared to analyst estimates of $580.81 million.

Insider Buying and Selling at Morningstar

In other news, Chairman Joseph D. Mansueto sold 1,716 shares of Morningstar 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 owns 10,151,120 shares in the company, valued at approximately $3,328,450,736.80. The trade was a 0.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 59,544 shares of company stock worth $18,770,097 over the last quarter. Corporate insiders own 39.90% of the company’s stock.

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.