Atria Investments Inc Lowers Stock Holdings in Morningstar, Inc. (NASDAQ:MORN)

Atria Investments Inc reduced its position in Morningstar, Inc. (NASDAQ:MORN) by 38.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,529 shares of the business services provider’s stock after selling 2,174 shares during the period. Atria Investments Inc’s holdings in Morningstar were worth $1,126,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in MORN. V Square Quantitative Management LLC bought a new stake in shares of Morningstar during the 3rd quarter valued at $30,000. Blue Trust Inc. lifted its stake in Morningstar by 326.9% in the 2nd quarter. Blue Trust Inc. now owns 111 shares of the business services provider’s stock worth $34,000 after purchasing an additional 85 shares in the last quarter. Crewe Advisors LLC purchased a new stake in Morningstar in the 2nd quarter worth $35,000. DT Investment Partners LLC purchased a new stake in Morningstar in the 2nd quarter worth $36,000. Finally, Acadian Asset Management LLC lifted its stake in Morningstar by 73.8% in the 2nd quarter. Acadian Asset Management LLC now owns 146 shares of the business services provider’s stock worth $43,000 after purchasing an additional 62 shares in the last quarter. 57.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on MORN. StockNews.com upgraded shares of Morningstar from a “hold” rating to a “buy” rating in a research report on Friday. Redburn Atlantic cut shares of Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 target price on the stock. in a research report on Wednesday, October 9th. UBS Group began coverage on shares of Morningstar in a research report on Tuesday, October 8th. They issued a “buy” rating and a $390.00 price objective on the stock. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $352.00 price objective on shares of Morningstar in a research report on Wednesday, August 28th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Morningstar currently has an average rating of “Moderate Buy” and a consensus target price of $360.67.

Insiders Place Their Bets

In related news, Director William M. Lyons sold 750 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $331.88, for a total transaction of $248,910.00. Following the completion of the sale, the director now owns 12,840 shares in the company, valued at $4,261,339.20. This represents a 5.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Joseph D. Mansueto sold 8,056 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $305.95, for a total transaction of $2,464,733.20. Following the completion of the sale, the chairman now owns 10,517,257 shares of the company’s stock, valued at $3,217,754,779.15. This trade represents a 0.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,195 shares of company stock valued at $23,252,260 over the last ninety days. Company insiders own 39.90% of the company’s stock.

Morningstar Trading Down 1.6 %

NASDAQ MORN opened at $337.57 on Friday. The company has a fifty day simple moving average of $329.41 and a two-hundred day simple moving average of $311.32. The stock has a market cap of $14.48 billion, a P/E ratio of 44.59 and a beta of 1.18. Morningstar, Inc. has a 12-month low of $264.79 and a 12-month high of $352.55. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.55.

Morningstar (NASDAQ:MORN) last released its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $2.00 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.01). Morningstar had a net margin of 14.69% and a return on equity of 23.28%. The firm had revenue of $569.40 million for the quarter.

Morningstar Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were paid a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date was Friday, October 4th. Morningstar’s dividend payout ratio (DPR) is presently 21.40%.

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.