Quantinno Capital Management LP Boosts Stock Position in Morningstar, Inc. (NASDAQ:MORN)

Quantinno Capital Management LP raised its stake in Morningstar, Inc. (NASDAQ:MORN - Free Report) by 46.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,534 shares of the business services provider's stock after purchasing an additional 1,747 shares during the period. Quantinno Capital Management LP's holdings in Morningstar were worth $1,766,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in MORN. CIBC Asset Management Inc boosted its holdings in shares of Morningstar by 3.4% in the third quarter. CIBC Asset Management Inc now owns 1,259 shares of the business services provider's stock valued at $402,000 after acquiring an additional 41 shares during the period. Legacy Advisors LLC boosted its holdings in shares of Morningstar by 1.6% in the second quarter. Legacy Advisors LLC now owns 3,025 shares of the business services provider's stock valued at $895,000 after acquiring an additional 49 shares during the period. Planning Alternatives Ltd. ADV boosted its holdings in shares of Morningstar by 2.2% in the third quarter. Planning Alternatives Ltd. ADV now owns 2,254 shares of the business services provider's stock valued at $719,000 after acquiring an additional 49 shares during the period. Great Valley Advisor Group Inc. lifted its holdings in shares of Morningstar by 7.3% during the second quarter. Great Valley Advisor Group Inc. now owns 754 shares of the business services provider's stock worth $223,000 after purchasing an additional 51 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Morningstar by 38.0% during the second quarter. Nisa Investment Advisors LLC now owns 196 shares of the business services provider's stock worth $58,000 after purchasing an additional 54 shares during the period. 57.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MORN has been the subject of several recent research reports. BMO Capital Markets reaffirmed an "outperform" rating and set a $352.00 price target on shares of Morningstar in a report on Wednesday, August 28th. StockNews.com raised Morningstar from a "hold" rating to a "buy" rating in a report on Thursday. Redburn Atlantic downgraded Morningstar from a "buy" rating to a "neutral" rating and set a $340.00 price target for the company. in a report on Wednesday, October 9th. Finally, UBS Group initiated coverage on Morningstar in a report on Tuesday, October 8th. They set a "buy" rating and a $390.00 price target for the company. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Morningstar has an average rating of "Moderate Buy" and an average price target of $360.67.

Insider Activity

In other news, Director William M. Lyons sold 750 shares of the firm's stock in a transaction on Monday, September 30th. The stock was sold at an average price of $316.48, for a total value of $237,360.00. Following the completion of the transaction, the director now owns 13,590 shares in the company, valued at $4,300,963.20. This trade represents a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Joseph D. Mansueto sold 9,062 shares of the firm's stock in a transaction on Monday, November 4th. The shares were sold at an average price of $329.45, for a total value of $2,985,475.90. Following the completion of the transaction, the chairman now owns 10,836,656 shares of the company's stock, valued at approximately $3,570,136,319.20. This represents a 0.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,188 shares of company stock worth $16,823,772 over the last 90 days. 37.70% of the stock is currently owned by corporate insiders.

Morningstar Price Performance

Morningstar stock traded up $0.31 during midday trading on Thursday, reaching $358.78. The company's stock had a trading volume of 97,656 shares, compared to its average volume of 120,246. Morningstar, Inc. has a fifty-two week low of $269.51 and a fifty-two week high of $362.01. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.14 and a current ratio of 1.14. The stock's 50 day simple moving average is $342.84 and its 200 day simple moving average is $318.54. The firm has a market capitalization of $15.39 billion, a PE ratio of 47.39 and a beta of 1.19.

Morningstar (NASDAQ:MORN - Get Free Report) last released its earnings results on Wednesday, October 23rd. The business services provider reported $2.00 EPS 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 during the quarter.

Morningstar Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 3rd will be given a $0.455 dividend. The ex-dividend date is Friday, October 3rd. This represents a $1.82 dividend on an annualized basis and a dividend yield of 0.51%. This is a boost from Morningstar's previous quarterly dividend of $0.41. Morningstar's dividend payout ratio (DPR) is currently 24.04%.

Morningstar 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.