• Morningstar, Inc. recently announced that its Morningstar Wealth division is working with Apollo Global Management, Franklin Resources, and J.P. Morgan Asset Management to create research-driven public/private model portfolios for financial advisors, while its board affirmed a quarterly dividend of US$0.50 per share payable on July 31, 2026.
• This collaboration aims to broaden access to private markets for individual investors by packaging private credit and real estate exposure into diversified, risk-based portfolios using ETFs and interval funds.
• Next, we will examine how Morningstar’s move to integrate private markets into accessible model portfolios shapes the company’s broader investment narrative.

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What Is Morningstar's Investment Narrative?

To own Morningstar today, you really need to believe in its role as a central data and portfolio infrastructure provider for advisors, asset managers, and retirement plans, not just as a rating agency. The new Public/Private Select Series with Apollo, Franklin Resources, and J.P. Morgan fits neatly into that story by deepening Morningstar Wealth’s relevance to advisors who are grappling with how to use private markets. Given the share price slump over the past year, this tie-up could matter for sentiment if it eventually translates into visible adoption, but the impact on near term financials is likely modest until assets scale. The steady US$0.50 quarterly dividend signals continuity in capital returns, while key risks sit around execution in wealth and retirement, balance sheet leverage, and the recent pattern of insider selling.

Yet there is one emerging concentration risk here that shareholders should not ignore.

Morningstar's share price has been on the slide but might be up to 18% below fair value. Find out if it's a bargain.

Exploring Other Perspectives

Seven fair value views from the Simply Wall St Community span roughly US$132 to just over US$329, showing how far apart individual investors can be. Set that against Morningstar’s push into public/private portfolios, which could reshape how its advisor platform is perceived and where future business mix and risk will sit, and it becomes clear why you may want to compare several of these perspectives before forming your own view.

Explore 7 other fair value estimates on Morningstar - why the stock might be worth 15% less than the current price!

Decide For Yourself

Disagree with this assessment? Extraordinary investment returns rarely come from following the herd, so go with your instincts.

• A great starting point for your Morningstar research is our analysis highlighting 4 key rewards and 2 important warning signs that could impact your investment decision.
• Our free Morningstar research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Morningstar's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.