Parametric Portfolio Associates LLC cut its holdings in shares of Morningstar, Inc. (NASDAQ:MORN) by 8.2% during the second quarter, Holdings Channel reports. The fund owned 148,579 shares of the business services provider’s stock after selling 13,263 shares during the period. Parametric Portfolio Associates LLC’s holdings in Morningstar were worth $21,490,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. FMR LLC lifted its position in shares of Morningstar by 26.5% during the first quarter. FMR LLC now owns 1,554,353 shares of the business services provider’s stock valued at $195,833,000 after buying an additional 325,848 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Morningstar by 114.2% in the second quarter. Bank of New York Mellon Corp now owns 219,592 shares of the business services provider’s stock valued at $31,762,000 after buying an additional 117,093 shares in the last quarter. Mawer Investment Management Ltd. grew its stake in shares of Morningstar by 34.3% in the first quarter. Mawer Investment Management Ltd. now owns 387,300 shares of the business services provider’s stock valued at $48,796,000 after buying an additional 98,900 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Morningstar by 419.5% in the first quarter. Marshall Wace LLP now owns 45,544 shares of the business services provider’s stock valued at $5,738,000 after buying an additional 36,777 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Morningstar by 5.3% in the first quarter. JPMorgan Chase & Co. now owns 669,927 shares of the business services provider’s stock valued at $84,405,000 after buying an additional 33,458 shares in the last quarter. Institutional investors and hedge funds own 43.98% of the company’s stock.
In other Morningstar news, major shareholder Joseph D. Mansueto sold 18,615 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $160.51, for a total transaction of $2,987,893.65. Following the completion of the sale, the insider now owns 21,547,780 shares in the company, valued at approximately $3,458,634,167.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Joseph D. Mansueto sold 8,430 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.94, for a total value of $1,356,724.20. Following the sale, the chairman now owns 21,523,728 shares of the company’s stock, valued at approximately $3,464,028,784.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 410,156 shares of company stock valued at $62,307,013. 54.10% of the stock is owned by insiders.
Morningstar (NASDAQ:MORN) last posted its earnings results on Thursday, July 25th. The business services provider reported $0.98 earnings per share (EPS) for the quarter. Morningstar had a return on equity of 17.36% and a net margin of 16.52%. The business had revenue of $273.90 million during the quarter.
Separately, BidaskClub lowered Morningstar from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, September 11th.
Morningstar, Inc provides independent investment research services in North America, Europe, Australia, Canada, Asia, and internationally. It offers a line of data, research, and software tools on a range of investment offerings, including managed investment products, publicly listed companies, fixed income securities, private capital markets, and real-time global market data for financial advisors, asset managers, retirement plan providers and sponsors, and individual and institutional investors.
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