Oddo BHF Asset Management Sas bought a new position in Morningstar, Inc. (NASDAQ:MORN - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,212 shares of the business services provider's stock, valued at approximately $1,982,000.
Several other hedge funds have also modified their holdings of the stock. Millennium Management LLC increased its stake in 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 acquiring an additional 194,122 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Morningstar by 9.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,201,708 shares of the business services provider's stock worth $383,489,000 after purchasing an additional 102,206 shares in the last quarter. Wasatch Advisors LP increased its position in Morningstar by 13.9% during the 3rd quarter. Wasatch Advisors LP now owns 696,023 shares of the business services provider's stock worth $222,115,000 after purchasing an additional 85,098 shares in the last quarter. Boston Financial Mangement LLC purchased a new position in Morningstar in the third quarter valued at approximately $19,666,000. Finally, FMR LLC lifted its position in Morningstar by 10.9% during the third quarter. FMR LLC now owns 400,520 shares of the business services provider's stock valued at $127,814,000 after buying an additional 39,263 shares in the last quarter. 57.02% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on the stock. UBS Group began coverage on shares of Morningstar in a research note on Tuesday, October 8th. They issued a "buy" rating and a $390.00 target price on the stock. StockNews.com raised Morningstar from a "hold" rating to a "buy" rating in a research report on Thursday. Redburn Atlantic downgraded Morningstar from a "buy" rating to a "neutral" rating and set a $340.00 target price for the company. in a research report on Wednesday, October 9th. Finally, BMO Capital Markets reiterated an "outperform" rating and set a $352.00 target price on shares of Morningstar in a report on Wednesday, August 28th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $360.67.
View Our Latest Research Report on Morningstar
Insider Buying and Selling at Morningstar
In other Morningstar news, Director William M. Lyons sold 750 shares of the company's stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $331.88, for a total transaction of $248,910.00. Following 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Joseph D. Mansueto sold 9,062 shares of Morningstar stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $355.22, for a total value of $3,219,003.64. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders have sold 49,188 shares of company stock worth $16,823,772 in the last ninety days. 39.90% of the stock is owned by insiders.
Morningstar Stock Down 1.6 %
Morningstar stock traded down $5.87 during midday trading on Friday, hitting $352.91. 138,236 shares of the stock were exchanged, compared to its average volume of 120,320. Morningstar, Inc. has a 1 year low of $269.51 and a 1 year high of $362.01. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a market cap of $15.13 billion, a P/E ratio of 46.62 and a beta of 1.19. The company has a 50 day moving average price of $343.52 and a two-hundred day moving average price of $318.92.
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 analysts' consensus estimates of $2.01 by ($0.01). Morningstar had a net margin of 14.69% and a return on equity of 23.28%. The business had revenue of $569.40 million for the quarter.
Morningstar Increases Dividend
The business also recently declared 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. The ex-dividend date is Friday, October 3rd. This is a boost from Morningstar's previous quarterly dividend of $0.41. This represents a $1.82 annualized dividend and a yield of 0.52%. Morningstar's dividend payout ratio is currently 24.04%.
Morningstar Profile
(
Free Report)
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.
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