Verition Fund Management LLC Takes $452,000 Position in Morningstar, Inc. (NASDAQ:MORN)

Verition Fund Management LLC purchased a new stake in Morningstar, Inc. (NASDAQ:MORN - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,416 shares of the business services provider's stock, valued at approximately $452,000.

A number of other hedge funds have also modified their holdings of MORN. V Square Quantitative Management LLC purchased a new stake in shares of Morningstar in the 3rd quarter valued at approximately $30,000. Blue Trust Inc. raised its position in Morningstar by 326.9% in the second quarter. Blue Trust Inc. now owns 111 shares of the business services provider's stock valued at $34,000 after purchasing an additional 85 shares during the period. Crewe Advisors LLC acquired a new position in Morningstar during the second quarter worth $35,000. DT Investment Partners LLC purchased a new position in shares of Morningstar during the second quarter worth $36,000. Finally, Venturi Wealth Management LLC grew its stake in shares of Morningstar by 101.7% in the third quarter. Venturi Wealth Management LLC now owns 121 shares of the business services provider's stock valued at $39,000 after buying an additional 61 shares in the last quarter. 57.02% of the stock is currently owned by hedge funds and other institutional investors.

Morningstar Stock Performance

Shares of Morningstar stock traded up $0.31 on Thursday, hitting $358.78. The stock had a trading volume of 97,656 shares, compared to its average volume of 120,246. The stock has a market cap of $15.39 billion, a price-to-earnings ratio of 47.39 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, Inc. has a 52-week low of $269.51 and a 52-week high of $362.01. The company's 50 day moving average price is $342.84 and its 200 day moving average price is $318.54.

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 (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.01). Morningstar had a return on equity of 23.28% and a net margin of 14.69%. The business had revenue of $569.40 million for the quarter.

Morningstar Increases Dividend

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

Insiders Place Their Bets

In other Morningstar news, Director William M. Lyons sold 750 shares of the company's stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $331.88, for a total value of $248,910.00. Following the sale, the director now owns 12,840 shares of the company's stock, valued at approximately $4,261,339.20. This represents a 5.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Joseph D. Mansueto sold 9,062 shares of Morningstar stock in a transaction on Friday, November 1st. The stock was sold at an average price of $328.22, for a total value of $2,974,329.64. Following the transaction, the chairman now directly owns 10,845,718 shares of the company's stock, valued at $3,559,781,561.96. This trade represents a 0.08 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 49,188 shares of company stock worth $16,823,772. 37.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

MORN has been the subject of a number of research analyst reports. StockNews.com upgraded Morningstar from a "hold" rating to a "buy" rating in a report on Thursday. Redburn Atlantic cut shares of Morningstar from a "buy" rating to a "neutral" rating and set a $340.00 price objective for the company. in a report on Wednesday, October 9th. UBS Group started coverage on shares of Morningstar in a report on Tuesday, October 8th. They set a "buy" rating and a $390.00 target price on the stock. Finally, BMO Capital Markets restated an "outperform" rating and issued a $352.00 price target on shares of Morningstar in a research note on Wednesday, August 28th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Morningstar has a consensus rating of "Moderate Buy" and a consensus target price 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.