Simon Quick Advisors LLC Raises Holdings in Morningstar, Inc. (NASDAQ:MORN)

Simon Quick Advisors LLC raised its stake in Morningstar, Inc. (NASDAQ:MORN) by 54.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,906 shares of the business services provider’s stock after purchasing an additional 1,372 shares during the quarter. Simon Quick Advisors LLC’s holdings in Morningstar were worth $1,156,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Principal Securities Inc. purchased a new position in Morningstar in the fourth quarter valued at about $29,000. Blue Trust Inc. grew its stake in 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 purchasing an additional 85 shares in the last quarter. Crewe Advisors LLC acquired a new position in Morningstar in the second quarter worth about $35,000. DT Investment Partners LLC acquired a new position in Morningstar in the second quarter worth about $36,000. Finally, GAMMA Investing LLC grew its stake in Morningstar by 38.6% in the second quarter. GAMMA Investing LLC now owns 183 shares of the business services provider’s stock worth $54,000 after purchasing an additional 51 shares in the last quarter. 57.02% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director William M. Lyons sold 750 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $294.21, for a total transaction of $220,657.50. Following the sale, the director now owns 15,840 shares of the company’s stock, valued at $4,660,286.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Morningstar news, Chairman Joseph D. Mansueto sold 9,062 shares of Morningstar stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $302.64, for a total transaction of $2,742,523.68. Following the transaction, the chairman now directly owns 10,631,706 shares in the company, valued at approximately $3,217,579,503.84. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William M. Lyons sold 750 shares of Morningstar stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $294.21, for a total transaction of $220,657.50. Following the transaction, the director now owns 15,840 shares in the company, valued at $4,660,286.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,400 shares of company stock valued at $16,781,747. Insiders own 39.90% of the company’s stock.

Morningstar Stock Performance

MORN stock traded up $0.55 during midday trading on Wednesday, reaching $313.09. The company had a trading volume of 3,718 shares, compared to its average volume of 113,661. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.63. The stock has a 50 day moving average price of $307.98 and a 200 day moving average price of $300.92. Morningstar, Inc. has a fifty-two week low of $219.45 and a fifty-two week high of $330.22. The firm has a market capitalization of $13.38 billion, a PE ratio of 63.14 and a beta of 1.17.

Morningstar (NASDAQ:MORN) last issued its earnings results on Wednesday, July 24th. The business services provider reported $2.01 EPS for the quarter. Morningstar had a return on equity of 22.34% and a net margin of 11.34%. The company had revenue of $571.90 million during the quarter.

Morningstar Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, July 12th were issued a dividend of $0.405 per share. The ex-dividend date was Friday, July 12th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 0.52%. Morningstar’s dividend payout ratio (DPR) is presently 32.73%.

Analyst Ratings Changes

Separately, BMO Capital Markets reiterated an “outperform” rating and issued a $352.00 price target on shares of Morningstar in a research note on Wednesday, August 28th.

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.