Brown Brothers Harriman & Co. Purchases 287 Shares of Morningstar, Inc. (NASDAQ:MORN)

Brown Brothers Harriman & Co. raised its position in Morningstar, Inc. (NASDAQ:MORN) by 229.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 412 shares of the business services provider’s stock after buying an additional 287 shares during the period. Brown Brothers Harriman & Co.’s holdings in Morningstar were worth $122,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Scout Investments Inc. increased its position in Morningstar by 75.8% in the 1st quarter. Scout Investments Inc. now owns 42,549 shares of the business services provider’s stock valued at $13,034,000 after acquiring an additional 18,345 shares in the last quarter. SG Americas Securities LLC raised its position in Morningstar by 506.2% in the 1st quarter. SG Americas Securities LLC now owns 13,202 shares of the business services provider’s stock worth $4,071,000 after purchasing an additional 11,024 shares during the last quarter. M&G Plc lifted its holdings in Morningstar by 2.0% during the 2nd quarter. M&G Plc now owns 173,105 shares of the business services provider’s stock worth $51,239,000 after buying an additional 3,322 shares in the last quarter. Wasatch Advisors LP boosted its position in Morningstar by 1.0% in the 4th quarter. Wasatch Advisors LP now owns 533,935 shares of the business services provider’s stock valued at $152,834,000 after buying an additional 5,240 shares during the last quarter. Finally, Confluence Investment Management LLC acquired a new stake in shares of Morningstar in the 1st quarter valued at $20,986,000. 57.02% of the stock is owned by institutional investors.

Morningstar Price Performance

MORN opened at $316.32 on Thursday. The company has a fifty day moving average price of $311.11 and a two-hundred day moving average price of $302.85. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market capitalization of $13.52 billion, a PE ratio of 63.90 and a beta of 1.18. Morningstar, Inc. has a 52 week low of $219.45 and a 52 week high of $330.22.

Morningstar (NASDAQ:MORN) last released its quarterly earnings data on Wednesday, July 24th. The business services provider reported $2.01 earnings per share for the quarter. The business had revenue of $571.90 million for the quarter. Morningstar had a net margin of 11.34% and a return on equity of 22.34%.

Analysts Set New Price Targets

Separately, BMO Capital Markets reaffirmed an “outperform” rating and set a $352.00 price target on shares of Morningstar in a research note on Wednesday, August 28th.

Insider Activity at Morningstar

In other Morningstar news, Chairman Joseph D. Mansueto sold 9,062 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $302.64, for a total value of $2,742,523.68. Following the completion of the transaction, the chairman now directly owns 10,631,706 shares of the company’s stock, valued at $3,217,579,503.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Chairman Joseph D. Mansueto sold 8,056 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $305.95, for a total transaction of $2,464,733.20. Following the sale, the chairman now directly owns 10,517,257 shares in the company, valued at $3,217,754,779.15. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Joseph D. Mansueto sold 9,062 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $302.64, for a total transaction of $2,742,523.68. Following the completion of the transaction, the chairman now directly owns 10,631,706 shares of the company’s stock, valued at $3,217,579,503.84. The disclosure for this sale can be found here. Insiders sold a total of 63,231 shares of company stock worth $19,488,988 in the last quarter. Corporate insiders own 39.90% of the company’s stock.

Morningstar Company 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.