Morningstar, Inc. (NASDAQ:MORN) Stock Holdings Lowered by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its position in Morningstar, Inc. (NASDAQ:MORN - Free Report) by 17.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 202,140 shares of the business services provider's stock after selling 41,877 shares during the period. JPMorgan Chase & Co. owned approximately 0.47% of Morningstar worth $64,507,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of MORN. V Square Quantitative Management LLC acquired a new position in Morningstar during the third quarter valued at approximately $30,000. Venturi Wealth Management LLC lifted its holdings in shares of Morningstar by 101.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 121 shares of the business services provider's stock valued at $39,000 after acquiring an additional 61 shares in the last quarter. Acadian Asset Management LLC boosted its position in Morningstar by 73.8% during 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 during the period. Point72 Hong Kong Ltd acquired a new stake in Morningstar in the 3rd quarter valued at $58,000. Finally, Farther Finance Advisors LLC raised its position in Morningstar by 93.6% in the third quarter. Farther Finance Advisors LLC now owns 182 shares of the business services provider's stock valued at $58,000 after purchasing an additional 88 shares during the period. Hedge funds and other institutional investors own 57.02% of the company's stock.

Wall Street Analysts Forecast Growth

MORN has been the subject of several analyst reports. UBS Group began coverage on Morningstar in a research report on Tuesday, October 8th. They issued a "buy" rating and a $390.00 target price for the company. StockNews.com upgraded Morningstar from a "hold" rating to a "buy" rating in a report on Saturday, December 28th. Finally, 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. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $360.67.

Insider Buying and Selling

In other Morningstar news, CFO Jason Dubinsky sold 3,223 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $352.88, for a total transaction of $1,137,332.24. Following the sale, the chief financial officer now directly owns 17,304 shares of the company's stock, valued at approximately $6,106,235.52. This represents a 15.70 % decrease in their ownership of the stock. 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 9,062 shares of Morningstar stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $355.22, for a total transaction of $3,219,003.64. Following the completion of the transaction, the chairman now directly owns 10,738,224 shares of the company's stock, valued at $3,814,431,929.28. This trade represents a 0.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,661 shares of company stock worth $17,723,744. Corporate insiders own 39.90% of the company's stock.

Morningstar Stock Up 0.7 %

NASDAQ MORN traded up $2.35 during mid-day trading on Friday, reaching $334.73. 79,302 shares of the company's stock traded hands, compared to its average volume of 89,451. The company has a fifty day simple moving average of $344.14 and a 200-day simple moving average of $324.22. Morningstar, Inc. has a 1-year low of $269.51 and a 1-year high of $365.00. The company has a market cap of $14.35 billion, a price-to-earnings ratio of 44.22 and a beta of 1.19. 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 - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $2.00 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.01 by ($0.01). Morningstar had a return on equity of 23.28% and a net margin of 14.69%. The company had revenue of $569.40 million during the quarter.

Morningstar Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 3rd will be paid a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 0.54%. This is an increase from Morningstar's previous quarterly dividend of $0.41. The ex-dividend date is Friday, October 3rd. Morningstar's dividend payout ratio (DPR) is 24.04%.

About Morningstar

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.