PNC Financial Services Group Inc. Purchases 579 Shares of Morningstar, Inc. (NASDAQ:MORN)

PNC Financial Services Group Inc. grew its position in shares of Morningstar, Inc. (NASDAQ:MORN) by 43.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,915 shares of the business services provider’s stock after purchasing an additional 579 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Morningstar were worth $645,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA increased its position in shares of Morningstar by 9.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,201,708 shares of the business services provider’s stock valued at $383,489,000 after purchasing an additional 102,206 shares during the last quarter. Wellington Management Group LLP grew its position in Morningstar by 0.5% during the 3rd quarter. Wellington Management Group LLP now owns 950,512 shares of the business services provider’s stock worth $303,327,000 after acquiring an additional 5,158 shares during the last quarter. State Street Corp grew its position in Morningstar by 3.7% during the 3rd quarter. State Street Corp now owns 804,293 shares of the business services provider’s stock worth $256,666,000 after acquiring an additional 28,698 shares during the last quarter. Wasatch Advisors LP grew its position in Morningstar by 13.9% during the 3rd quarter. Wasatch Advisors LP now owns 696,023 shares of the business services provider’s stock worth $222,115,000 after acquiring an additional 85,098 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Morningstar by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 497,411 shares of the business services provider’s stock worth $158,772,000 after acquiring an additional 10,437 shares during the last quarter. 57.02% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Morningstar Trading Up 0.2 %

NASDAQ MORN opened at $291.71 on Wednesday. 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 quick ratio of 1.14 and a current ratio of 1.14. The stock has a 50 day simple moving average of $317.13 and a two-hundred day simple moving average of $328.55. The stock 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 released its quarterly earnings data on Wednesday, February 26th. The business services provider reported $2.14 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.15. Morningstar had a return on equity of 23.28% and a net margin of 14.69%. The business had revenue of $591.00 million during the quarter, compared to analysts’ expectations of $580.81 million.

Insiders Place Their Bets

In other news, Chairman Joseph D. Mansueto sold 9,062 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $326.86, for a total value of $2,962,005.32. Following the completion of the transaction, the chairman now owns 10,109,617 shares in the company, valued at $3,304,429,412.62. This trade represents a 0.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders sold 59,544 shares of company stock worth $18,770,097. 39.90% of the stock is currently owned by company insiders.

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.