Keybank National Association OH Trims Holdings in Morningstar, Inc. (NASDAQ:MORN)

Keybank National Association OH cut its stake in Morningstar, Inc. (NASDAQ:MORN) by 11.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 625 shares of the business services provider’s stock after selling 83 shares during the quarter. Keybank National Association OH’s holdings in Morningstar were worth $210,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in MORN. Farther Finance Advisors LLC grew its position in shares of Morningstar by 93.6% in the third quarter. Farther Finance Advisors LLC now owns 182 shares of the business services provider’s stock valued at $58,000 after purchasing an additional 88 shares in the last quarter. Janney Montgomery Scott LLC grew its position in Morningstar by 14.2% during the third quarter. Janney Montgomery Scott LLC now owns 3,283 shares of the business services provider’s stock worth $1,048,000 after buying an additional 407 shares in the last quarter. QRG Capital Management Inc. grew its position in Morningstar by 7.4% during the third quarter. QRG Capital Management Inc. now owns 832 shares of the business services provider’s stock worth $266,000 after buying an additional 57 shares in the last quarter. Covestor Ltd grew its position in Morningstar by 75.4% during the third quarter. Covestor Ltd now owns 363 shares of the business services provider’s stock worth $116,000 after buying an additional 156 shares in the last quarter. Finally, Crossmark Global Holdings Inc. grew its position in Morningstar by 30.7% during the third quarter. Crossmark Global Holdings Inc. now owns 2,258 shares of the business services provider’s stock worth $720,000 after buying an additional 531 shares in the last quarter. 57.02% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Chairman Joseph D. Mansueto sold 1,280 shares of the company’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $320.57, for a total transaction of $410,329.60. Following the completion of the sale, the chairman now directly owns 10,130,378 shares in the company, valued at $3,247,495,275.46. This represents a 0.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Jason Dubinsky sold 3,223 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $352.88, for a total transaction of $1,137,332.24. Following the sale, the chief financial officer now owns 17,304 shares of the company’s stock, valued at $6,106,235.52. This represents a 15.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 53,703 shares of company stock valued at $17,349,106. Corporate insiders own 37.70% of the company’s stock.

Morningstar Price Performance

Shares of Morningstar stock opened at $284.43 on Wednesday. Morningstar, Inc. has a 52-week low of $278.64 and a 52-week high of $365.00. The stock has a market capitalization of $12.18 billion, a price-to-earnings ratio of 37.57 and a beta of 1.23. The company has a fifty day moving average of $321.33 and a 200-day moving average of $329.38. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.14 and a current ratio of 1.14.

Morningstar (NASDAQ:MORN) last announced its quarterly earnings data on Wednesday, February 26th. The business services provider reported $2.14 earnings per share (EPS) 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 company had revenue of $591.00 million during the quarter, compared to analysts’ expectations of $580.81 million.

Analyst Upgrades and Downgrades

MORN has been the subject of several recent analyst reports. StockNews.com upgraded Morningstar from a “hold” rating to a “buy” rating in a research report on Thursday, February 27th. BMO Capital Markets reduced their target price on Morningstar from $387.00 to $370.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd.

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.