National Bank of Canada FI Has $8.65 Million Holdings in Morningstar, Inc. (NASDAQ:MORN)

National Bank of Canada FI grew its position in shares of Morningstar, Inc. (NASDAQ:MORN - Free Report) by 92.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 27,113 shares of the business services provider's stock after purchasing an additional 13,005 shares during the quarter. National Bank of Canada FI owned 0.06% of Morningstar worth $8,652,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MORN. Millennium Management LLC raised its position in shares of Morningstar by 154.0% during the second quarter. Millennium Management LLC now owns 320,186 shares of the business services provider's stock worth $94,727,000 after purchasing an additional 194,122 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Morningstar by 9.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,201,708 shares of the business services provider's stock worth $383,489,000 after buying an additional 102,206 shares during the period. Wasatch Advisors LP increased its position in shares of Morningstar by 13.9% in the third quarter. Wasatch Advisors LP now owns 696,023 shares of the business services provider's stock worth $222,115,000 after acquiring an additional 85,098 shares in the last quarter. Boston Financial Mangement LLC purchased a new stake in shares of Morningstar in the 3rd quarter valued at approximately $19,666,000. Finally, FMR LLC boosted its stake in Morningstar by 10.9% in the 3rd quarter. FMR LLC now owns 400,520 shares of the business services provider's stock worth $127,814,000 after purchasing an additional 39,263 shares during the period. 57.02% of the stock is currently owned by institutional investors.

Morningstar Stock Up 0.1 %

Shares of MORN traded up $0.31 during midday trading on Thursday, reaching $358.78. 97,656 shares of the stock were exchanged, compared to its average volume of 120,246. The company has a market cap of $15.39 billion, a price-to-earnings ratio of 47.35 and a beta of 1.19. 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 12-month low of $269.51 and a 12-month high of $362.01. The firm has a 50 day simple moving average of $342.01 and a 200-day simple moving average of $318.26.

Morningstar (NASDAQ:MORN - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $2.00 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.01). The business had revenue of $569.40 million for the quarter. Morningstar had a net margin of 14.69% and a return on equity of 23.28%.

Morningstar Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 3rd will be issued a $0.455 dividend. This is a positive change from Morningstar's previous quarterly dividend of $0.41. This represents a $1.82 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend is Friday, October 3rd. Morningstar's payout ratio is 24.04%.

Insiders Place Their Bets

In related news, Chairman Joseph D. Mansueto sold 9,062 shares of the business's stock in a transaction on 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 transaction, the chairman now owns 10,738,224 shares of the company's stock, valued at approximately $3,814,431,929.28. The trade was a 0.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director William M. Lyons sold 750 shares of the stock in a transaction on Monday, September 30th. The shares were sold at an average price of $316.48, for a total transaction of $237,360.00. Following the completion of the sale, the director now directly owns 13,590 shares of the company's stock, valued at approximately $4,300,963.20. This trade represents a 5.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 49,188 shares of company stock valued at $16,823,772 over the last 90 days. 37.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on MORN shares. StockNews.com lowered Morningstar from a "buy" rating to a "hold" rating in a report on Monday, December 2nd. Redburn Atlantic lowered Morningstar from a "buy" rating to a "neutral" rating and set a $340.00 price objective for the company. in a research report on Wednesday, October 9th. UBS Group initiated coverage on Morningstar in a report on Tuesday, October 8th. They issued a "buy" rating and a $390.00 target price on the stock. Finally, BMO Capital Markets reaffirmed an "outperform" rating and set a $352.00 price objective on shares of Morningstar in a research report on Wednesday, August 28th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $360.67.

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.