Cardinal Capital Management Buys 1,047 Shares of Morningstar, Inc. (NASDAQ:MORN)

Cardinal Capital Management increased its holdings in shares of Morningstar, Inc. (NASDAQ:MORN) by 9.8% during the first quarter, Holdings Channel reports. The fund owned 11,740 shares of the business services provider’s stock after purchasing an additional 1,047 shares during the period. Cardinal Capital Management’s holdings in Morningstar were worth $3,620,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of MORN. Fifth Third Bancorp boosted its position in Morningstar by 19.6% in the 4th quarter. Fifth Third Bancorp now owns 232 shares of the business services provider’s stock valued at $66,000 after buying an additional 38 shares during the last quarter. HBK Sorce Advisory LLC boosted its position in Morningstar by 4.7% in the 4th quarter. HBK Sorce Advisory LLC now owns 896 shares of the business services provider’s stock valued at $256,000 after buying an additional 40 shares during the last quarter. CWM LLC boosted its position in Morningstar by 14.1% in the 4th quarter. CWM LLC now owns 324 shares of the business services provider’s stock valued at $93,000 after buying an additional 40 shares during the last quarter. Alliance Wealth Advisors LLC UT lifted its stake in shares of Morningstar by 2.0% in the 4th quarter. Alliance Wealth Advisors LLC UT now owns 2,541 shares of the business services provider’s stock valued at $727,000 after purchasing an additional 51 shares during the period. Finally, Treasurer of the State of North Carolina lifted its stake in shares of Morningstar by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 11,292 shares of the business services provider’s stock valued at $2,645,000 after purchasing an additional 60 shares during the period. 57.02% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com raised Morningstar from a “hold” rating to a “buy” rating in a research note on Thursday, February 29th.

Morningstar Trading Down 0.2 %

Shares of MORN stock traded down $0.70 during trading hours on Thursday, reaching $294.21. The company had a trading volume of 89,466 shares, compared to its average volume of 118,218. The company has a 50 day moving average of $293.31 and a 200 day moving average of $290.92. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market cap of $12.58 billion, a price-to-earnings ratio of 59.58 and a beta of 1.16. Morningstar, Inc. has a 1-year low of $185.15 and a 1-year high of $316.05.

Morningstar (NASDAQ:MORN) last issued its quarterly earnings data on Wednesday, April 24th. The business services provider reported $1.73 EPS for the quarter. The business had revenue of $542.80 million for the quarter. Morningstar had a return on equity of 21.79% and a net margin of 10.13%.

Morningstar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, July 12th will be paid a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 0.55%. The ex-dividend date is Friday, July 12th. Morningstar’s payout ratio is presently 32.73%.

Insider Buying and Selling

In related news, Chairman Joseph D. Mansueto sold 134 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $300.43, for a total transaction of $40,257.62. Following the sale, the chairman now owns 10,726,348 shares of the company’s stock, valued at approximately $3,222,516,729.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Morningstar news, Chairman Joseph D. Mansueto sold 134 shares of the stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $300.43, for a total transaction of $40,257.62. Following the completion of the transaction, the chairman now owns 10,726,348 shares in the company, valued at approximately $3,222,516,729.64. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Joseph D. Mansueto sold 8,325 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $286.72, for a total value of $2,386,944.00. Following the transaction, the chairman now owns 10,758,587 shares of the company’s stock, valued at approximately $3,084,702,064.64. The disclosure for this sale can be found here. In the last quarter, insiders have sold 73,802 shares of company stock valued at $21,760,308. 39.90% of the stock is owned by company insiders.

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.