Morningstar, Inc. (NASDAQ:MORN) Shares Purchased by Diversify Wealth Management LLC

Diversify Wealth Management LLC increased its position in shares of Morningstar, Inc. (NASDAQ:MORN) by 6.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,245 shares of the business services provider’s stock after purchasing an additional 143 shares during the quarter. Diversify Wealth Management LLC’s holdings in Morningstar were worth $767,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of MORN. State of Michigan Retirement System lifted its holdings in shares of Morningstar by 3.2% during the first quarter. State of Michigan Retirement System now owns 6,400 shares of the business services provider’s stock worth $1,974,000 after purchasing an additional 200 shares during the period. Edge Financial Advisors LLC acquired a new stake in shares of Morningstar during the first quarter worth about $246,000. Retirement Systems of Alabama lifted its holdings in shares of Morningstar by 0.3% during the first quarter. Retirement Systems of Alabama now owns 32,709 shares of the business services provider’s stock worth $10,086,000 after purchasing an additional 86 shares during the period. Diversify Advisory Services LLC purchased a new position in Morningstar during the first quarter valued at approximately $575,000. Finally, Precision Wealth Strategies LLC raised its position in Morningstar by 35.3% during the first quarter. Precision Wealth Strategies LLC now owns 2,123 shares of the business services provider’s stock valued at $655,000 after acquiring an additional 554 shares in the last quarter. Institutional investors and hedge funds own 57.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MORN. BMO Capital Markets reiterated an “outperform” rating and set a $352.00 price target on shares of Morningstar in a research report on Wednesday, August 28th. UBS Group began coverage on Morningstar in a research report on Tuesday, October 8th. They set a “buy” rating and a $390.00 price target for the company. Finally, Redburn Atlantic cut Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 price target for the company. in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Morningstar presently has an average rating of “Moderate Buy” and an average price target of $360.67.

Morningstar Stock Down 0.9 %

Morningstar stock opened at $330.21 on Thursday. The stock has a market capitalization of $14.16 billion, a PE ratio of 43.62 and a beta of 1.19. Morningstar, Inc. has a 12 month low of $247.16 and a 12 month high of $349.07. The business has a 50 day simple moving average of $322.48 and a 200-day simple moving average of $307.62. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.05 and a quick ratio of 1.05.

Morningstar (NASDAQ:MORN) last posted 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 business had revenue of $569.40 million during the quarter. Morningstar had a net margin of 11.34% and a return on equity of 22.34%.

Morningstar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be given a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend is Friday, October 4th. Morningstar’s dividend payout ratio (DPR) is presently 21.40%.

Insider Activity

In related news, Chairman Joseph D. Mansueto sold 9,062 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $302.64, for a total transaction of $2,742,523.68. Following the completion of the sale, the chairman now directly owns 10,631,706 shares in the company, valued at approximately $3,217,579,503.84. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Joseph D. Mansueto sold 9,062 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $302.64, for a total value of $2,742,523.68. Following the sale, the chairman now owns 10,631,706 shares of the company’s stock, valued at $3,217,579,503.84. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 57,547 shares of company stock worth $17,771,996 over the last three months. 39.90% of the stock is currently owned by corporate insiders.

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.