Congress Asset Management Co. Has $13.28 Million Stake in Morningstar, Inc. (NASDAQ:MORN)

Congress Asset Management Co. grew its position in Morningstar, Inc. (NASDAQ:MORN) by 16.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,627 shares of the business services provider’s stock after buying an additional 6,011 shares during the quarter. Congress Asset Management Co.’s holdings in Morningstar were worth $13,284,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new position in Morningstar in the third quarter valued at approximately $30,000. Blue Trust Inc. increased its stake in shares of Morningstar by 326.9% in the 2nd 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 last quarter. Crewe Advisors LLC acquired a new position in shares of Morningstar during the 2nd quarter worth $35,000. DT Investment Partners LLC bought a new stake in shares of Morningstar during the 2nd quarter worth $36,000. Finally, Acadian Asset Management LLC boosted its stake in Morningstar by 73.8% in the second quarter. Acadian Asset Management LLC now owns 146 shares of the business services provider’s stock valued at $43,000 after buying an additional 62 shares in the last quarter. Institutional investors own 57.02% of the company’s stock.

Insider Buying and Selling at Morningstar

In other news, Director William M. Lyons sold 750 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $311.60, for a total transaction of $233,700.00. Following the completion of the transaction, the director now directly owns 14,340 shares in the company, valued at $4,468,344. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director William M. Lyons sold 750 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $311.60, for a total transaction of $233,700.00. Following the completion of the sale, the director now directly owns 14,340 shares in the company, valued at $4,468,344. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Joseph D. Mansueto sold 8,056 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $305.95, for a total transaction of $2,464,733.20. Following the completion of the transaction, the chairman now owns 10,517,257 shares in the company, valued at approximately $3,217,754,779.15. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 57,547 shares of company stock worth $17,771,996. Insiders own 39.90% of the company’s stock.

Morningstar Stock Performance

NASDAQ:MORN opened at $328.05 on Friday. The stock’s 50-day moving average is $322.83 and its 200-day moving average is $307.77. Morningstar, Inc. has a 1-year low of $247.16 and a 1-year high of $349.07. The company has a current ratio of 1.14, a quick ratio of 1.05 and a debt-to-equity ratio of 0.55. The stock has a market cap of $14.07 billion, a P/E ratio of 43.34 and a beta of 1.19.

Morningstar (NASDAQ:MORN) last announced its quarterly earnings results 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). The business had revenue of $569.40 million during the quarter. Morningstar had a net margin of 14.69% and a return on equity of 23.28%.

Morningstar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were issued a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Friday, October 4th. Morningstar’s payout ratio is presently 21.40%.

Wall Street Analysts Forecast Growth

MORN has been the subject of several research analyst reports. BMO Capital Markets reissued an “outperform” rating and set a $352.00 target price on shares of Morningstar in a research note on Wednesday, August 28th. Redburn Atlantic downgraded shares of Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 price objective for the company. in a research note on Wednesday, October 9th. Finally, UBS Group initiated coverage on shares of Morningstar in a research note on Tuesday, October 8th. They set a “buy” rating and a $390.00 target price on the stock. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Morningstar has an average rating of “Moderate Buy” and an average price target of $360.67.

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.