Point72 Hong Kong Ltd Invests $58,000 in Morningstar, Inc. (NASDAQ:MORN)

Point72 Hong Kong Ltd bought a new stake in Morningstar, Inc. (NASDAQ:MORN) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 181 shares of the business services provider’s stock, valued at approximately $58,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA grew its holdings in shares of Morningstar by 9.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,201,708 shares of the business services provider’s stock worth $383,489,000 after purchasing an additional 102,206 shares during the last quarter. Wasatch Advisors LP boosted its position in shares of Morningstar by 13.9% in the 3rd quarter. Wasatch Advisors LP now owns 696,023 shares of the business services provider’s stock valued at $222,115,000 after purchasing an additional 85,098 shares during the period. FMR LLC grew its stake in Morningstar by 10.9% during the 3rd quarter. FMR LLC now owns 400,520 shares of the business services provider’s stock worth $127,814,000 after buying an additional 39,263 shares during the last quarter. Millennium Management LLC grew its stake in Morningstar by 154.0% during the 2nd quarter. Millennium Management LLC now owns 320,186 shares of the business services provider’s stock worth $94,727,000 after buying an additional 194,122 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in 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 buying an additional 4,722 shares during the period. 57.02% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Morningstar

In related news, Chairman Joseph D. Mansueto sold 9,062 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $355.22, for a total value of $3,219,003.64. Following the sale, the chairman now directly owns 10,738,224 shares of the company’s stock, valued at approximately $3,814,431,929.28. This represents a 0.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William M. Lyons sold 750 shares of Morningstar stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $331.88, for a total transaction of $248,910.00. Following the transaction, the director now owns 12,840 shares of the company’s stock, valued at approximately $4,261,339.20. The trade was a 5.52 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 57,298 shares of company stock valued at $19,305,383. Insiders own 37.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on MORN shares. BMO Capital Markets restated an “outperform” rating and set a $352.00 target price on shares of Morningstar in a research report on Wednesday, August 28th. Redburn Atlantic cut shares of 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. UBS Group began coverage on shares of Morningstar in a research note on Tuesday, October 8th. They issued a “buy” rating and a $390.00 price objective on the stock. Finally, StockNews.com downgraded shares of Morningstar from a “buy” rating to a “hold” rating in a research note on Monday. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $360.67.

Morningstar Trading Down 0.9 %

NASDAQ MORN opened at $351.17 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $15.06 billion, a P/E ratio of 46.39 and a beta of 1.19. Morningstar, Inc. has a 52-week low of $269.51 and a 52-week high of $359.50. The firm has a 50-day moving average price of $337.31 and a 200 day moving average price of $315.90.

Morningstar (NASDAQ:MORN) last posted its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $2.00 EPS for the quarter, missing the consensus estimate 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were issued a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 0.46%. The ex-dividend date was Friday, October 4th. Morningstar’s dividend payout ratio (DPR) is 21.40%.

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.