Morningstar, Inc. (NASDAQ:MORN) Holdings Boosted by Covestor Ltd

Covestor Ltd grew its holdings in Morningstar, Inc. (NASDAQ:MORN) by 75.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 363 shares of the business services provider’s stock after purchasing an additional 156 shares during the period. Covestor Ltd’s holdings in Morningstar were worth $116,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. V Square Quantitative Management LLC acquired a new stake in Morningstar during the 3rd quarter worth about $30,000. Blue Trust Inc. boosted its holdings in shares of Morningstar by 326.9% during the second quarter. Blue Trust Inc. now owns 111 shares of the business services provider’s stock worth $34,000 after purchasing an additional 85 shares during the period. Crewe Advisors LLC purchased a new position in Morningstar during the second quarter valued at approximately $35,000. DT Investment Partners LLC acquired a new position in Morningstar in the 2nd quarter valued at approximately $36,000. Finally, Acadian Asset Management LLC lifted its position 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 buying an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 57.02% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. BMO Capital Markets reaffirmed an “outperform” rating and issued a $352.00 price target on shares of Morningstar in a research note on Wednesday, August 28th. Redburn Atlantic lowered 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. StockNews.com lowered Morningstar from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, UBS Group started coverage on Morningstar in a report on Tuesday, October 8th. They issued a “buy” rating and a $390.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $360.67.

Insider Activity at Morningstar

In other Morningstar news, Chairman Joseph D. Mansueto sold 7,222 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $349.67, for a total transaction of $2,525,316.74. Following the completion of the sale, the chairman now directly owns 10,801,361 shares in the company, valued at $3,776,911,900.87. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Morningstar news, Chairman Joseph D. Mansueto sold 9,062 shares of Morningstar stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $348.45, for a total value of $3,157,653.90. Following the transaction, the chairman now directly owns 10,808,583 shares of the company’s stock, valued at $3,766,250,746.35. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Joseph D. Mansueto sold 7,222 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $349.67, for a total value of $2,525,316.74. Following the transaction, the chairman now owns 10,801,361 shares of the company’s stock, valued at approximately $3,776,911,900.87. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,370 shares of company stock worth $21,909,493. 39.90% of the stock is owned by insiders.

Morningstar Price Performance

NASDAQ MORN opened at $350.55 on Wednesday. Morningstar, Inc. has a fifty-two week low of $263.79 and a fifty-two week high of $352.00. The stock’s 50-day moving average is $326.73 and its two-hundred day moving average is $310.02. The firm has a market cap of $15.03 billion, a P/E ratio of 46.31 and a beta of 1.18. 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, October 23rd. The business services provider reported $2.00 earnings per share for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.01). The company had revenue of $569.40 million during the quarter. Morningstar had a net margin of 14.69% and a return on equity of 23.28%.

Morningstar Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were issued a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend was Friday, October 4th. Morningstar’s dividend payout ratio is currently 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.