Morningstar, Inc. (NASDAQ:MORN) Stock Holdings Decreased by Confluence Investment Management LLC

Confluence Investment Management LLC lowered its position in shares of Morningstar, Inc. (NASDAQ:MORN) by 0.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,432 shares of the business services provider’s stock after selling 543 shares during the quarter. Confluence Investment Management LLC owned 0.15% of Morningstar worth $20,561,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its position in Morningstar by 0.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,099,502 shares of the business services provider’s stock worth $325,288,000 after acquiring an additional 4,822 shares during the period. Millennium Management LLC lifted its position in shares of Morningstar by 154.0% in the second quarter. Millennium Management LLC now owns 320,186 shares of the business services provider’s stock worth $94,727,000 after purchasing an additional 194,122 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Morningstar by 1.8% during the second quarter. Dimensional Fund Advisors LP now owns 272,075 shares of the business services provider’s stock worth $80,492,000 after purchasing an additional 4,722 shares during the period. M&G PLC grew its position in Morningstar by 5.6% during the third quarter. M&G PLC now owns 182,808 shares of the business services provider’s stock valued at $58,316,000 after purchasing an additional 9,703 shares in the last quarter. Finally, M&G Plc increased its stake in Morningstar by 2.0% in the 2nd quarter. M&G Plc now owns 173,105 shares of the business services provider’s stock valued at $51,239,000 after buying an additional 3,322 shares during the period. Hedge funds and other institutional investors own 57.02% of the company’s stock.

Morningstar Stock Down 0.3 %

Morningstar stock opened at $343.27 on Friday. The company has a market capitalization of $14.72 billion, a P/E ratio of 45.35 and a beta of 1.18. Morningstar, Inc. has a 1-year low of $259.50 and a 1-year high of $349.07. The firm’s fifty day simple moving average is $325.34 and its 200-day simple moving average is $309.16. 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 (NASDAQ:MORN) last announced its quarterly earnings results 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). The company had revenue of $569.40 million during the quarter. Morningstar had a return on equity of 23.28% and a net margin of 14.69%.

Morningstar Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend was Friday, October 4th. This represents a $1.62 annualized dividend and a yield of 0.47%. Morningstar’s dividend payout ratio (DPR) is presently 21.40%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MORN. 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 for the company. BMO Capital Markets reissued an “outperform” rating and set a $352.00 price objective on shares of Morningstar in a research report on Wednesday, August 28th. StockNews.com lowered Morningstar from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Redburn Atlantic downgraded Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 price target for the company. in a research note on Wednesday, October 9th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Morningstar currently has an average rating of “Moderate Buy” and an average price target of $360.67.

Insider Activity

In related news, Chairman Joseph D. Mansueto sold 9,062 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $329.45, for a total transaction of $2,985,475.90. Following the completion of the sale, the chairman now directly owns 10,836,656 shares of the company’s stock, valued at approximately $3,570,136,319.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Chairman Joseph D. Mansueto sold 9,062 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $329.45, for a total transaction 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William M. Lyons sold 750 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $331.88, for a total value of $248,910.00. Following the completion of the sale, the director now directly owns 12,840 shares in the company, valued at $4,261,339.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 61,492 shares of company stock valued at $19,430,128 over the last 90 days. 39.90% of the stock is currently owned by company insiders.

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.