Raymond James Financial Inc. Makes New $16.50 Million Investment in Morningstar, Inc. (NASDAQ:MORN)

Raymond James Financial Inc. acquired a new position in shares of Morningstar, Inc. (NASDAQ:MORN) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 48,986 shares of the business services provider’s stock, valued at approximately $16,497,000. Raymond James Financial Inc. owned approximately 0.11% of Morningstar as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in MORN. Smartleaf Asset Management LLC raised its stake in shares of Morningstar by 178.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 78 shares of the business services provider’s stock worth $26,000 after purchasing an additional 50 shares in the last quarter. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of Morningstar during the 4th quarter worth approximately $28,000. R Squared Ltd bought a new stake in shares of Morningstar during the 4th quarter worth approximately $40,000. V Square Quantitative Management LLC raised its stake in shares of Morningstar by 49.5% during the 4th quarter. V Square Quantitative Management LLC now owns 139 shares of the business services provider’s stock worth $47,000 after purchasing an additional 46 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in Morningstar in the 3rd quarter valued at $58,000. Institutional investors own 57.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MORN. BMO Capital Markets dropped their price target on Morningstar from $387.00 to $370.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. StockNews.com cut Morningstar from a “buy” rating to a “hold” rating in a research note on Monday.

Insider Buying and Selling at Morningstar

In other news, Chairman Joseph D. Mansueto sold 3,635 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $325.44, for a total transaction of $1,182,974.40. Following the sale, the chairman now directly owns 10,142,694 shares of the company’s stock, valued at approximately $3,300,838,335.36. This represents a 0.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 59,544 shares of company stock valued at $18,770,097 in the last ninety days. 39.90% of the stock is currently owned by corporate insiders.

Morningstar Stock Performance

Shares of NASDAQ MORN opened at $291.09 on Tuesday. 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 stock’s fifty day moving average price is $317.71 and its two-hundred day moving average price is $328.70. Morningstar, Inc. has a one year low of $278.64 and a one year high of $365.00. The firm has a market cap of $12.47 billion, a price-to-earnings ratio of 38.45 and a beta of 1.23.

Morningstar (NASDAQ:MORN) last issued its quarterly earnings data on Wednesday, February 26th. The business services provider reported $2.14 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.15. Morningstar had a return on equity of 23.28% and a net margin of 14.69%. The firm had revenue of $591.00 million for the quarter, compared to analyst estimates of $580.81 million.

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.