Morningstar, Inc. (NASDAQ:MORN) Stock Holdings Lessened by HighTower Advisors LLC

HighTower Advisors LLC cut its stake in shares of Morningstar, Inc. (NASDAQ:MORN) by 1.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,966 shares of the business services provider’s stock after selling 176 shares during the quarter. HighTower Advisors LLC’s holdings in Morningstar were worth $5,108,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of MORN. V Square Quantitative Management LLC purchased a new position in Morningstar in the 3rd quarter worth about $30,000. Blue Trust Inc. increased its position in shares of Morningstar by 326.9% in the second quarter. Blue Trust Inc. now owns 111 shares of the business services provider’s stock worth $34,000 after acquiring an additional 85 shares in the last quarter. Crewe Advisors LLC acquired a new stake in shares of Morningstar during the second quarter valued at approximately $35,000. DT Investment Partners LLC purchased a new stake in shares of Morningstar in the 2nd quarter valued at approximately $36,000. Finally, Venturi Wealth Management LLC boosted its stake in Morningstar by 101.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 121 shares of the business services provider’s stock worth $39,000 after purchasing an additional 61 shares during the period. 57.02% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director William M. Lyons sold 750 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was 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 approximately $4,261,339.20. The trade was a 5.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Joseph D. Mansueto sold 118 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $342.13, for a total value of $40,371.34. Following the transaction, the chairman now owns 10,788,378 shares in the company, valued at approximately $3,691,027,765.14. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 49,188 shares of company stock worth $16,823,772. Corporate insiders own 37.70% of the company’s stock.

Morningstar Stock Performance

Shares of NASDAQ MORN opened at $357.57 on Wednesday. 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, Inc. has a one year low of $269.51 and a one year high of $362.01. The business’s 50-day moving average price is $341.21 and its two-hundred day moving average price is $317.98. The company has a market capitalization of $15.33 billion, a P/E ratio of 47.24 and a beta of 1.19.

Morningstar (NASDAQ:MORN) last released its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $2.00 EPS for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.01). The firm 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 3rd will be paid a $0.455 dividend. This represents a $1.82 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend is Friday, October 3rd. This is a positive change from Morningstar’s previous quarterly dividend of $0.41. Morningstar’s payout ratio is presently 24.04%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. StockNews.com lowered Morningstar from a “buy” rating to a “hold” rating in a report on Monday, December 2nd. Redburn Atlantic lowered Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 price objective for the company. in a research report on Wednesday, October 9th. BMO Capital Markets reiterated an “outperform” rating and issued a $352.00 target price on shares of Morningstar in a report on Wednesday, August 28th. Finally, UBS Group initiated coverage on shares of Morningstar in a report on Tuesday, October 8th. They set a “buy” rating and a $390.00 price target for the company. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.