Portside Wealth Group LLC Reduces Holdings in Morningstar, Inc. (NASDAQ:MORN)

Portside Wealth Group LLC reduced its position in Morningstar, Inc. (NASDAQ:MORN) by 0.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,305 shares of the business services provider’s stock after selling 32 shares during the period. Portside Wealth Group LLC’s holdings in Morningstar were worth $1,693,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. BNP Paribas Financial Markets boosted its holdings in Morningstar by 104.2% in the first quarter. BNP Paribas Financial Markets now owns 6,114 shares of the business services provider’s stock valued at $1,885,000 after purchasing an additional 3,120 shares during the last quarter. Texas Permanent School Fund Corp grew its position in shares of Morningstar by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 22,796 shares of the business services provider’s stock worth $7,030,000 after buying an additional 298 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in shares of Morningstar by 60.8% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 1,140 shares of the business services provider’s stock worth $352,000 after buying an additional 431 shares during the last quarter. Quantbot Technologies LP raised its holdings in Morningstar by 80.5% in the first quarter. Quantbot Technologies LP now owns 6,914 shares of the business services provider’s stock valued at $2,132,000 after acquiring an additional 3,083 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in Morningstar by 506.2% during the 1st quarter. SG Americas Securities LLC now owns 13,202 shares of the business services provider’s stock valued at $4,071,000 after acquiring an additional 11,024 shares during the last quarter. 57.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on MORN shares. UBS Group began coverage on shares of Morningstar in a research report on Tuesday, October 8th. They issued a “buy” rating and a $390.00 target price for the company. StockNews.com lowered Morningstar from a “buy” rating to a “hold” rating in a report on Thursday. Redburn Atlantic downgraded Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 target price on the stock. in a report on Wednesday, October 9th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $352.00 price target on shares of Morningstar in a report on Wednesday, August 28th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Morningstar currently has a consensus rating of “Moderate Buy” and a consensus price target of $360.67.

Insiders Place Their Bets

In other news, Chairman Joseph D. Mansueto sold 5,149 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $305.30, for a total transaction of $1,571,989.70. Following the completion of the transaction, the chairman now owns 10,610,555 shares in the company, valued at approximately $3,239,402,441.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Morningstar news, Chairman Joseph D. Mansueto sold 3,838 shares of Morningstar stock in a transaction on Monday, August 19th. The stock was sold at an average price of $315.90, for a total transaction of $1,212,424.20. Following the sale, the chairman now owns 10,581,130 shares of the company’s stock, valued at $3,342,578,967. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Joseph D. Mansueto sold 5,149 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $305.30, for a total value of $1,571,989.70. Following the transaction, the chairman now owns 10,610,555 shares of the company’s stock, valued at $3,239,402,441.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 61,492 shares of company stock valued at $19,430,128 over the last three months. Company insiders own 39.90% of the company’s stock.

Morningstar Trading Down 0.3 %

NASDAQ MORN opened at $343.27 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.14 and a current ratio of 1.14. Morningstar, Inc. has a one year low of $259.50 and a one year high of $349.07. The company has a 50-day simple moving average of $325.34 and a 200-day simple moving average of $309.16. The firm has a market capitalization of $14.72 billion, a PE ratio of 45.35 and a beta of 1.18.

Morningstar (NASDAQ:MORN) last issued its earnings results 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 company had revenue of $569.40 million during the quarter. Morningstar had a net margin of 14.69% and a return on equity of 23.28%.

Morningstar Dividend Announcement

The business also recently disclosed 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 yield of 0.47%. Morningstar’s payout ratio is currently 21.40%.

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.