Cardinal Capital Management Has $3.62 Million Stock Position in Morningstar, Inc. (NASDAQ:MORN)

Cardinal Capital Management lifted its holdings in shares of Morningstar, Inc. (NASDAQ:MORN) by 9.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,740 shares of the business services provider’s stock after purchasing an additional 1,047 shares during the period. Cardinal Capital Management’s holdings in Morningstar were worth $3,620,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Fifth Third Bancorp raised its stake in Morningstar by 19.6% during the fourth quarter. Fifth Third Bancorp now owns 232 shares of the business services provider’s stock worth $66,000 after buying an additional 38 shares during the last quarter. HBK Sorce Advisory LLC raised its stake in Morningstar by 4.7% during the fourth quarter. HBK Sorce Advisory LLC now owns 896 shares of the business services provider’s stock worth $256,000 after buying an additional 40 shares during the last quarter. CWM LLC increased its stake in Morningstar by 14.1% in the fourth quarter. CWM LLC now owns 324 shares of the business services provider’s stock valued at $93,000 after purchasing an additional 40 shares in the last quarter. Alliance Wealth Advisors LLC UT increased its stake in Morningstar by 2.0% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 2,541 shares of the business services provider’s stock valued at $727,000 after purchasing an additional 51 shares in the last quarter. Finally, Treasurer of the State of North Carolina increased its stake in Morningstar by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 11,292 shares of the business services provider’s stock valued at $2,645,000 after purchasing an additional 60 shares in the last quarter. Institutional investors and hedge funds own 57.02% of the company’s stock.

Morningstar Stock Down 0.2 %

Morningstar stock traded down $0.70 during midday trading on Thursday, hitting $294.21. 89,466 shares of the stock were exchanged, compared to its average volume of 118,218. Morningstar, Inc. has a 52-week low of $185.15 and a 52-week high of $316.05. The stock has a market capitalization of $12.58 billion, a price-to-earnings ratio of 59.58 and a beta of 1.16. The business’s 50-day moving average price is $293.31 and its 200-day moving average price is $290.92. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.66.

Morningstar (NASDAQ:MORN) last released its quarterly earnings results on Wednesday, April 24th. The business services provider reported $1.73 earnings per share for the quarter. The business had revenue of $542.80 million for the quarter. Morningstar had a net margin of 10.13% and a return on equity of 21.79%.

Morningstar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 12th will be paid a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is Friday, July 12th. Morningstar’s payout ratio is 32.73%.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Morningstar from a “hold” rating to a “buy” rating in a research note on Thursday, February 29th.

Insider Buying and Selling at Morningstar

In other Morningstar news, Chairman Joseph D. Mansueto sold 4,804 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $301.10, for a total value of $1,446,484.40. Following the transaction, the chairman now directly owns 10,703,512 shares in the company, valued at $3,222,827,463.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Steven N. Kaplan sold 1,250 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $298.13, for a total value of $372,662.50. Following the sale, the director now owns 43,177 shares of the company’s stock, valued at $12,872,359.01. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Joseph D. Mansueto sold 4,804 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $301.10, for a total transaction of $1,446,484.40. Following the sale, the chairman now directly owns 10,703,512 shares in the company, valued at approximately $3,222,827,463.20. The disclosure for this sale can be found here. Insiders have sold a total of 73,802 shares of company stock worth $21,760,308 over the last three months. 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.