Dearborn Partners LLC Makes New $338,000 Investment in Morningstar, Inc. (NASDAQ:MORN)

Dearborn Partners LLC bought a new stake in Morningstar, Inc. (NASDAQ:MORN) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,058 shares of the business services provider’s stock, valued at approximately $338,000.

Several other hedge funds have also made changes to their positions in the company. Massachusetts Financial Services Co. MA increased its position in shares of Morningstar by 0.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,099,502 shares of the business services provider’s stock worth $325,288,000 after purchasing an additional 4,822 shares during the last quarter. Millennium Management LLC increased its position in shares of Morningstar by 154.0% during the second quarter. Millennium Management LLC now owns 320,186 shares of the business services provider’s stock valued at $94,727,000 after acquiring an additional 194,122 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Morningstar by 1.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 272,075 shares of the business services provider’s stock valued at $80,492,000 after acquiring an additional 4,722 shares during the period. M&G PLC lifted its holdings in shares of Morningstar by 5.6% in the 3rd quarter. M&G PLC now owns 182,808 shares of the business services provider’s stock worth $58,316,000 after acquiring an additional 9,703 shares during the last quarter. Finally, M&G Plc boosted its position in shares of Morningstar by 2.0% during the 2nd quarter. M&G Plc now owns 173,105 shares of the business services provider’s stock worth $51,239,000 after purchasing an additional 3,322 shares during the period. Hedge funds and other institutional investors own 57.02% of the company’s stock.

Morningstar Price Performance

MORN stock opened at $337.57 on Friday. The business’s 50-day moving average is $328.76 and its two-hundred day moving average is $310.94. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a market capitalization of $14.48 billion, a P/E ratio of 44.59 and a beta of 1.18. Morningstar, Inc. has a 1 year low of $264.79 and a 1 year high of $352.55.

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

Morningstar Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were given a dividend of $0.405 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $1.62 annualized dividend and a dividend yield of 0.48%. Morningstar’s dividend payout ratio is currently 21.40%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on MORN shares. UBS Group assumed 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. BMO Capital Markets reaffirmed an “outperform” rating and issued a $352.00 target price on shares of Morningstar in a research report on Wednesday, August 28th. StockNews.com raised shares of Morningstar from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Redburn Atlantic cut shares of Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 price objective for the company. in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Morningstar has an average rating of “Moderate Buy” and a consensus target price of $360.67.

Insider Activity

In other Morningstar news, Director William M. Lyons sold 750 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $311.60, for a total transaction of $233,700.00. Following the transaction, the director now owns 14,340 shares of the company’s stock, valued at approximately $4,468,344. This trade represents a 4.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Joseph D. Mansueto sold 3,825 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $351.05, for a total value of $1,342,766.25. Following the completion of the sale, the chairman now directly owns 10,791,380 shares of the company’s stock, valued at $3,788,313,949. The trade was a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,195 shares of company stock worth $23,252,260. 39.90% of the stock is currently owned by 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.