Massachusetts Financial Services Co. MA Purchases 102,206 Shares of Morningstar, Inc. (NASDAQ:MORN)

Massachusetts Financial Services Co. MA raised its holdings in Morningstar, Inc. (NASDAQ:MORN) by 9.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,201,708 shares of the business services provider’s stock after purchasing an additional 102,206 shares during the quarter. Massachusetts Financial Services Co. MA owned 2.80% of Morningstar worth $383,489,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. V Square Quantitative Management LLC bought a new stake in shares of Morningstar in the third quarter valued at $30,000. Blue Trust Inc. grew its stake in Morningstar by 326.9% in the 2nd quarter. Blue Trust Inc. now owns 111 shares of the business services provider’s stock worth $34,000 after buying an additional 85 shares in the last quarter. Crewe Advisors LLC purchased a new stake in Morningstar during the second quarter valued at about $35,000. DT Investment Partners LLC bought a new stake in Morningstar in the 2nd quarter worth approximately $36,000. Finally, Venturi Wealth Management LLC grew its holdings in shares of Morningstar by 101.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 121 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 61 shares during the last quarter. 57.02% of the stock is owned by hedge funds and other institutional investors.

Morningstar Trading Up 1.3 %

MORN opened at $340.07 on Friday. Morningstar, Inc. has a 12 month low of $269.51 and a 12 month high of $352.55. 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 stock has a 50-day moving average of $331.14 and a 200 day moving average of $312.45. The firm has a market cap of $14.58 billion, a P/E ratio of 44.92 and a beta of 1.18.

Morningstar (NASDAQ:MORN) last released 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 company had revenue of $569.40 million for the quarter. Morningstar had a net margin of 14.69% and a return on equity of 23.28%.

Morningstar Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were paid a dividend of $0.405 per share. The ex-dividend date was Friday, October 4th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 0.48%. Morningstar’s dividend payout ratio is presently 21.40%.

Wall Street Analysts Forecast Growth

MORN has been the topic of several research analyst reports. 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. Redburn Atlantic cut shares of Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 price target on the stock. in a report on Wednesday, October 9th. UBS Group began coverage on shares of Morningstar in a research note on Tuesday, October 8th. They set a “buy” rating and a $390.00 target price on the stock. Finally, StockNews.com upgraded Morningstar from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. One investment 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 company presently has a consensus rating of “Moderate Buy” and an average price target of $360.67.

Insider Activity at Morningstar

In other news, Chairman Joseph D. Mansueto sold 5,724 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $311.27, for a total transaction of $1,781,709.48. Following the completion of the sale, the chairman now owns 10,551,498 shares in the company, valued at approximately $3,284,364,782.46. This represents a 0.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William M. Lyons sold 750 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $311.60, for a total transaction of $233,700.00. Following the sale, the director now directly owns 14,340 shares in the company, valued at approximately $4,468,344. This represents a 4.97 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 61,541 shares of company stock worth $20,234,838. Insiders own 39.90% of the company’s stock.

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.