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Morningstar, Inc. (Nasdaq: MORN) is a premier American financial services firm based in Chicago, Illinois, founded in 1984 by Joe Mansueto. It is widely recognized for its independent investment research and management services, catering primarily to financial advisers, asset managers, and individual investors.
Core Operations: Morningstar focuses on two primary sectors: data and research. The company offers comprehensive data on a myriad of investment vehicles including mutual funds, stocks, exchange-traded funds (ETFs), closed-end funds, separate accounts, and variable annuities. Additionally, Morningstar tracks real-time market data for equity, derivative, and currency exchanges, providing crucial insights for the financial industry.
Research Insights: The firm's research arm delivers in-depth analyst reports on both passive and active mutual funds, alternative funds, and college saving plans, setting a high standard for accuracy and reliability. With a robust team of analysts, Morningstar ensures that financial professionals and investors have access to detailed, unbiased information.
Recent Achievements: As of September 30, 2023, Morningstar managed approximately $264 billion in assets through its investment advisory subsidiaries. The company has also expanded its influence across 32 countries, emphasizing its commitment to global investment insights.
Current Projects: Morningstar Wealth recently announced the addition of third-party Separately Managed Accounts (SMAs) to its U.S. Wealth Platform. This strategic move, featuring top-tier asset management firms like AllianceBernstein and Putnam Investments, aims to provide advisors with a broader array of investment choices, thereby enhancing the advisor-investor relationship.
Morningstar's dedication to empowering financial advisors and investors is evident from its continuous efforts to innovate and expand its offerings. From real-time global market data to managed portfolios, the company stands out as a leader in the financial services sector.
For more information, visit www.morningstar.com/company or follow Morningstar on X @MorningstarInc.
Morningstar (MORN) has acquired Praemium's operations in the UK, Jersey, Hong Kong, and Dubai for £35 million. This strategic acquisition aims to enhance technology offerings for financial advisers. Praemium's wealth management platform will be renamed the Morningstar Wealth Platform, aiding nearly 500 advisory firms in streamlining their services. The deal brings over 100 new employees to Morningstar and expands its capabilities in data analytics and portfolio management. The acquisition aligns with Morningstar's commitment to empowering investors and improving client service.
Morningstar, Inc. (MORN) will report its second-quarter 2022 financial results on July 27, 2022, after market close. The company does not hold analyst conference calls but invites investors to submit questions via email. Morningstar is a prominent independent investment research provider with a diverse range of products and services for individual investors, financial advisors, and institutional investors across multiple regions including North America, Europe, and Asia. As of March 31, 2022, the company manages approximately $265 billion in assets.
Morningstar, Inc. (Nasdaq: MORN) announced the launch of Morningstar Investor, an upgraded investment research platform set to replace Morningstar Premium. This new tool enhances individual investors' experience by linking their portfolios directly with market research, offering insights across over 21,000 stocks, 7,000 mutual funds, and 3,000 ETFs. Priced at $249 annually, Morningstar Investor aims to provide personalized investment strategies and comprehensive account management. The transition from Morningstar Premium will be complete by late 2022.
Morningstar, Inc. (Nasdaq: MORN) plans to add 350 jobs in Toronto this year, boosting its workforce by 40% to over 1,000 employees. Of the new positions, approximately 250 will be technology roles such as software engineers, while the remainder will focus on ESG and credit rating capacities. The expansion reinforces Morningstar's commitment to the Canadian market and aims to support local economic recovery. The company has been recognized as one of the Best Workplaces in Canada for nine consecutive years.
Morningstar, Inc. has successfully completed its acquisition of Leveraged Commentary & Data (LCD) from S&P Global. This acquisition enhances Morningstar's PitchBook Platform by integrating LCD's data on leveraged loans, addressing investor needs for transparency in the leveraged loan market. Nearly 60 LCD employees will join Morningstar, with the acquisition funded through cash reserves and a credit facility. The deal aims to improve Morningstar's capabilities in private capital and debt markets, ultimately providing greater value to its customers.
Morningstar, a leader in independent investment research, has introduced Analytics Lab within its Morningstar Direct platform. This feature allows data scientists and analysts to create custom notebooks utilizing Morningstar data with Python programming. The tool simplifies the analysis process, supporting both seasoned programmers and users without coding skills through prebuilt research and robust documentation. Since last year, Morningstar has released 13 data sets, focusing on key investment insights, including diversity and ESG factors. Analytics Lab is available to all Morningstar Direct license holders.
The board of directors of Morningstar (Nasdaq: MORN) has declared a quarterly dividend of 36 cents per share, payable on July 29, 2022, to shareholders of record as of July 1, 2022. This dividend reflects the company's commitment to returning value to its investors. Morningstar is a leader in independent investment research with operations in 29 countries and approximately $265 billion in assets under advisement as of March 31, 2022. The company serves a diverse clientele in the investment sector.
Morningstar, Inc. (NASDAQ: MORN) announced that chief talent and culture officer Bevin Desmond will depart the company in August 2022, prompting an immediate search for her successor. Desmond, who joined in 1993, has significantly impacted the firm, particularly in leading its international business and talent functions. CEO Kunal Kapoor and Founder Joe Mansueto praised her contributions, highlighting the strong culture and growth she fostered. Desmond noted her decision is to focus on family during a crucial time for her children. Morningstar continues to manage approximately $265 billion in assets.
Morningstar reported a 16.3% revenue increase to $457 million in Q1 2022, with 18.1% organic growth. However, operating income fell 16.1% to $56.4 million, largely due to increased stock-based compensation expenses. Diluted net income per share decreased 16.5% to $1.06, and free cash flow turned negative at $4.5 million. The firm has announced plans to acquire Leveraged Commentary & Data for up to $650 million, funded partly by a $1.1 billion credit facility.
Morningstar, Inc. (MORN) announced the winners of the 2022 U.S. Morningstar Awards for Investing Excellence, recognizing key figures in the investment management field. Mary Ellen Stanek from Baird was named Outstanding Portfolio Manager, praised for her disciplined approach and impressive returns over 22 years. PRIMECAP received the Exemplary Stewardship award for its track record and growth-oriented strategies. These awards highlight the importance of investment skill and alignment of interests between managers and investors.
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