Kensington Investment Counsel LLC Has $3.60 Million Holdings in Morningstar, Inc. (NASDAQ:MORN)

Kensington Investment Counsel LLC increased its position in shares of Morningstar, Inc. (NASDAQ:MORN) by 0.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,682 shares of the business services provider’s stock after buying an additional 67 shares during the period. Morningstar accounts for 1.5% of Kensington Investment Counsel LLC’s holdings, making the stock its 23rd biggest holding. Kensington Investment Counsel LLC’s holdings in Morningstar were worth $3,597,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of MORN. Massachusetts Financial Services Co. MA raised its stake in Morningstar by 9.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,201,708 shares of the business services provider’s stock worth $383,489,000 after buying an additional 102,206 shares during the last quarter. Wasatch Advisors LP raised its stake in Morningstar by 13.9% during the third quarter. Wasatch Advisors LP now owns 696,023 shares of the business services provider’s stock worth $222,115,000 after buying an additional 85,098 shares during the last quarter. Raymond James Financial Inc. bought a new position in Morningstar during the fourth quarter worth $16,497,000. FMR LLC increased its stake in Morningstar by 10.9% in the third quarter. FMR LLC now owns 400,520 shares of the business services provider’s stock valued at $127,814,000 after purchasing an additional 39,263 shares in the last quarter. Finally, DF Dent & Co. Inc. increased its stake in Morningstar by 61.3% in the third quarter. DF Dent & Co. Inc. now owns 88,378 shares of the business services provider’s stock valued at $28,203,000 after purchasing an additional 33,595 shares in the last quarter. Institutional investors own 57.02% of the company’s stock.

Insider Activity

In related news, Chairman Joseph D. Mansueto sold 3,635 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $325.44, for a total transaction of $1,182,974.40. Following the transaction, the chairman now directly owns 10,142,694 shares in the company, valued at approximately $3,300,838,335.36. The trade was a 0.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 59,544 shares of company stock worth $18,770,097 over the last three months. 39.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on MORN shares. StockNews.com downgraded shares of Morningstar from a “buy” rating to a “hold” rating in a research note on Monday. BMO Capital Markets decreased their price target on shares of Morningstar from $387.00 to $370.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd.

Morningstar Stock Up 1.4 %

Shares of NASDAQ MORN opened at $291.09 on Tuesday. The stock has a market capitalization of $12.47 billion, a P/E ratio of 38.45 and a beta of 1.23. The company has a 50-day moving average price of $317.71 and a 200-day moving average price of $328.70. Morningstar, Inc. has a 1 year low of $278.64 and a 1 year high of $365.00. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.14 and a quick ratio of 1.14.

Morningstar (NASDAQ:MORN) last issued 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. The firm had revenue of $591.00 million during the quarter, compared to analysts’ expectations of $580.81 million. Morningstar had a net margin of 14.69% and a return on equity of 23.28%.

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.