Envestnet Portfolio Solutions Inc. Raises Stock Holdings in Morningstar, Inc. (NASDAQ:MORN)

Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Morningstar, Inc. (NASDAQ:MORN) by 26.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,269 shares of the business services provider’s stock after acquiring an additional 265 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Morningstar were worth $427,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of MORN. Geode Capital Management LLC increased its position in shares of Morningstar by 2.1% during the third quarter. Geode Capital Management LLC now owns 497,411 shares of the business services provider’s stock worth $158,772,000 after acquiring an additional 10,437 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Morningstar by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 191,765 shares of the business services provider’s stock worth $61,196,000 after purchasing an additional 5,045 shares in the last quarter. Quantbot Technologies LP increased its holdings in Morningstar by 259.3% during the 3rd quarter. Quantbot Technologies LP now owns 13,769 shares of the business services provider’s stock worth $4,394,000 after purchasing an additional 9,937 shares during the period. Smith Group Asset Management LLC purchased a new position in Morningstar during the 4th quarter worth $468,000. Finally, Oak Thistle LLC raised its position in Morningstar by 194.9% during the 4th quarter. Oak Thistle LLC now owns 4,276 shares of the business services provider’s stock valued at $1,440,000 after purchasing an additional 2,826 shares in the last quarter. Institutional investors own 57.02% of the company’s stock.

Morningstar Trading Down 1.5 %

MORN opened at $300.74 on Thursday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.55. The firm has a market cap of $12.88 billion, a price-to-earnings ratio of 39.73 and a beta of 1.23. Morningstar, Inc. has a 12 month low of $278.64 and a 12 month high of $365.00. The stock has a fifty day moving average price of $314.49 and a 200-day moving average price of $327.95.

Morningstar (NASDAQ:MORN) last released its quarterly earnings results on Wednesday, February 26th. The business services provider reported $2.14 EPS for the quarter, beating the consensus estimate of $1.99 by $0.15. Morningstar had a net margin of 14.69% and a return on equity of 23.28%. The business had revenue of $591.00 million during the quarter, compared to analyst estimates of $580.81 million.

Morningstar Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be paid a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 0.61%. This is an increase from Morningstar’s previous quarterly dividend of $0.41. The ex-dividend date is Friday, April 4th. Morningstar’s dividend payout ratio (DPR) is 21.24%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. StockNews.com lowered Morningstar from a “buy” rating to a “hold” rating in a research note on Wednesday. BMO Capital Markets cut their target price on shares of Morningstar from $387.00 to $370.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd.

Insiders Place Their Bets

In other news, Chairman Joseph D. Mansueto sold 9,062 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $282.25, for a total value of $2,557,749.50. Following the completion of the sale, the chairman now owns 10,038,270 shares of the company’s stock, valued at $2,833,301,707.50. This trade represents a 0.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders have sold 59,544 shares of company stock valued at $18,770,097. 39.90% of the stock is currently owned by insiders.

Morningstar Company 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.