Harbor Capital Advisors Inc. Boosts Stock Position in Morningstar, Inc. (NASDAQ:MORN)

Harbor Capital Advisors Inc. increased its holdings in shares of Morningstar, Inc. (NASDAQ:MORN - Free Report) by 111.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,589 shares of the business services provider's stock after buying an additional 2,952 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in Morningstar were worth $1,784,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MORN. Millennium Management LLC lifted its position in Morningstar by 154.0% during the 2nd quarter. Millennium Management LLC now owns 320,186 shares of the business services provider's stock worth $94,727,000 after acquiring an additional 194,122 shares during the period. M&G Plc acquired a new stake in Morningstar during the 1st quarter worth about $52,293,000. Boston Financial Mangement LLC acquired a new stake in Morningstar during the 3rd quarter worth about $19,666,000. Assenagon Asset Management S.A. acquired a new stake in Morningstar during the 2nd quarter worth about $9,366,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Morningstar during the 1st quarter worth about $9,070,000. 57.02% of the stock is currently owned by hedge funds and other institutional investors.

Morningstar Stock Performance

Shares of MORN stock traded up $7.91 on Wednesday, hitting $344.41. The company had a trading volume of 138,347 shares, compared to its average volume of 133,767. The firm has a market cap of $14.77 billion, a P/E ratio of 45.50 and a beta of 1.18. The company has a 50-day moving average price of $324.70 and a 200-day moving average price of $308.92. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.55. Morningstar, Inc. has a twelve month low of $259.50 and a twelve month high of $349.07.

Morningstar (NASDAQ:MORN - Get Free Report) last released its quarterly earnings results 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 business had revenue of $569.40 million during the quarter. Morningstar had a return on equity of 23.28% and a net margin of 14.69%.

Morningstar Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were issued a $0.405 dividend. The ex-dividend date was Friday, October 4th. This represents a $1.62 dividend on an annualized basis and a yield of 0.47%. Morningstar's payout ratio is 21.40%.

Analyst Ratings Changes

MORN has been the subject of a number of research reports. Redburn Atlantic cut Morningstar from a "buy" rating to a "neutral" rating and set a $340.00 price target for the company. in a research report on Wednesday, October 9th. BMO Capital Markets reissued an "outperform" rating and issued a $352.00 price objective on shares of Morningstar in a report on Wednesday, August 28th. 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 for the company. 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, the company has an average rating of "Moderate Buy" and an average price target of $360.67.

Insider Buying and Selling

In other Morningstar news, Chairman Joseph D. Mansueto sold 9,062 shares of the business's stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $329.45, for a total transaction of $2,985,475.90. Following the completion of the sale, the chairman now directly owns 10,836,656 shares in the company, valued at approximately $3,570,136,319.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Morningstar news, Chairman Joseph D. Mansueto sold 9,062 shares of the business's stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $329.45, for a total transaction of $2,985,475.90. Following the completion of the sale, the chairman now directly owns 10,836,656 shares in the company, valued at approximately $3,570,136,319.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William M. Lyons sold 750 shares of the business's stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $311.60, for a total value of $233,700.00. Following the sale, the director now owns 14,340 shares of the company's stock, valued at approximately $4,468,344. 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 90 days, insiders sold 66,609 shares of company stock valued at $20,989,277. 37.70% of the stock is owned by company insiders.

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.