Morningstar, Inc. (NASDAQ:MORN) Position Lowered by Raymond James Trust N.A.

Raymond James Trust N.A. reduced its position in Morningstar, Inc. (NASDAQ:MORN) by 5.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,144 shares of the business services provider’s stock after selling 70 shares during the quarter. Raymond James Trust N.A.’s holdings in Morningstar were worth $365,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA boosted its holdings in shares of Morningstar by 9.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,201,708 shares of the business services provider’s stock valued at $383,489,000 after buying an additional 102,206 shares during the period. Millennium Management LLC lifted its holdings in 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 acquiring an additional 194,122 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Morningstar by 1.8% in the second quarter. Dimensional Fund Advisors LP now owns 272,075 shares of the business services provider’s stock valued at $80,492,000 after acquiring an additional 4,722 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Morningstar by 2.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 191,765 shares of the business services provider’s stock valued at $61,196,000 after purchasing an additional 5,045 shares during the last quarter. Finally, M&G PLC grew its stake in Morningstar by 5.6% during the 3rd quarter. M&G PLC now owns 182,808 shares of the business services provider’s stock worth $58,316,000 after buying an additional 9,703 shares during the last quarter. Institutional investors and hedge funds own 57.02% of the company’s stock.

Morningstar Trading Up 0.6 %

Morningstar stock opened at $354.74 on Wednesday. Morningstar, Inc. has a 12-month low of $269.51 and a 12-month high of $357.06. The stock has a market capitalization of $15.21 billion, a PE ratio of 46.86 and a beta of 1.18. The firm has a 50 day simple moving average of $333.90 and a 200-day simple moving average of $313.95. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.14 and a quick ratio of 1.14.

Morningstar (NASDAQ:MORN) last issued 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). Morningstar had a net margin of 14.69% and a return on equity of 23.28%. The firm had revenue of $569.40 million for the quarter.

Morningstar Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were issued a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend was Friday, October 4th. Morningstar’s payout ratio is 21.40%.

Insider Transactions at Morningstar

In other Morningstar news, Chairman Joseph D. Mansueto sold 9,062 shares of Morningstar stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $328.22, for a total transaction of $2,974,329.64. Following the transaction, the chairman now directly owns 10,845,718 shares in the company, valued at approximately $3,559,781,561.96. The trade was a 0.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William M. Lyons sold 750 shares of the stock in a transaction on Monday, September 30th. The shares were sold at an average price of $316.48, for a total value of $237,360.00. Following the completion of the sale, the director now owns 13,590 shares of the company’s stock, valued at $4,300,963.20. The trade was a 5.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,817 shares of company stock valued at $18,453,128 in the last three months. 37.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. StockNews.com downgraded shares of Morningstar from a “buy” rating to a “hold” rating in a report on Saturday. Redburn Atlantic cut shares of Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 target price for the company. in a research report on Wednesday, October 9th. UBS Group assumed coverage on Morningstar in a report on Tuesday, October 8th. They set a “buy” rating and a $390.00 price target on the stock. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $352.00 price objective on shares of Morningstar in a report on Wednesday, August 28th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $360.67.

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.