Stifel Financial Corp Sells 421 Shares of Morningstar, Inc. (NASDAQ:MORN)

Stifel Financial Corp lowered its holdings in Morningstar, Inc. (NASDAQ:MORN) by 2.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,349 shares of the business services provider’s stock after selling 421 shares during the quarter. Stifel Financial Corp’s holdings in Morningstar were worth $5,856,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CIBC Asset Management Inc boosted its holdings in Morningstar by 3.4% in the third quarter. CIBC Asset Management Inc now owns 1,259 shares of the business services provider’s stock worth $402,000 after purchasing an additional 41 shares during the last quarter. Legacy Advisors LLC grew its holdings in shares of Morningstar by 1.6% in the second quarter. Legacy Advisors LLC now owns 3,025 shares of the business services provider’s stock worth $895,000 after acquiring an additional 49 shares during the period. Planning Alternatives Ltd. ADV increased its position in Morningstar by 2.2% during the third quarter. Planning Alternatives Ltd. ADV now owns 2,254 shares of the business services provider’s stock valued at $719,000 after acquiring an additional 49 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in Morningstar by 38.0% in the second quarter. Nisa Investment Advisors LLC now owns 196 shares of the business services provider’s stock valued at $58,000 after acquiring an additional 54 shares during the period. Finally, George Kaiser Family Foundation boosted its position in Morningstar by 0.7% in the second quarter. George Kaiser Family Foundation now owns 7,693 shares of the business services provider’s stock worth $2,276,000 after purchasing an additional 55 shares during the last quarter. 57.02% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MORN. UBS Group initiated coverage on shares of Morningstar in a research report on Tuesday, October 8th. They set a “buy” rating and a $390.00 price target for the company. StockNews.com upgraded shares of Morningstar from a “hold” rating to a “buy” rating in a research note on Thursday. BMO Capital Markets restated an “outperform” rating and issued a $352.00 price objective on shares of Morningstar in a research note on Wednesday, August 28th. Finally, Redburn Atlantic downgraded Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 target price on the stock. in a research report on Wednesday, October 9th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $360.67.

Insider Activity at Morningstar

In other news, Chairman Joseph D. Mansueto sold 9,062 shares of Morningstar stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $328.22, for a total value of $2,974,329.64. Following the sale, the chairman now directly owns 10,845,718 shares of the company’s stock, valued at approximately $3,559,781,561.96. The trade was a 0.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William M. Lyons sold 750 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 13,590 shares of the company’s stock, valued at approximately $4,300,963.20. The trade was a 5.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,188 shares of company stock valued at $16,823,772. 39.90% of the stock is owned by company insiders.

Morningstar Stock Performance

MORN opened at $352.91 on Friday. The company has a 50 day simple moving average of $343.52 and a two-hundred day simple moving average of $318.92. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a market cap of $15.13 billion, a P/E ratio of 46.62 and a beta of 1.19. Morningstar, Inc. has a 1-year low of $269.51 and a 1-year high of $362.01.

Morningstar (NASDAQ:MORN) last issued its earnings results on Wednesday, October 23rd. The business services provider reported $2.00 earnings per share for the quarter, missing the consensus estimate 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 announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 3rd will be given a dividend of $0.455 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $1.82 annualized dividend and a dividend yield of 0.52%. This is a boost from Morningstar’s previous quarterly dividend of $0.41. Morningstar’s dividend payout ratio (DPR) is currently 24.04%.

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.