Algert Global LLC Increases Stock Position in Morningstar, Inc. (NASDAQ:MORN)

Algert Global LLC boosted its stake in Morningstar, Inc. (NASDAQ:MORN) by 25.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,509 shares of the business services provider’s stock after purchasing an additional 5,220 shares during the quarter. Algert Global LLC owned about 0.06% of Morningstar worth $8,140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Massachusetts Financial Services Co. MA raised its stake in Morningstar by 9.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,201,708 shares of the business services provider’s stock valued at $383,489,000 after purchasing an additional 102,206 shares in the last quarter. Millennium Management LLC grew its position in 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 grew its position in Morningstar by 1.8% during the second 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 last quarter. Charles Schwab Investment Management Inc. grew its position in Morningstar by 2.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 191,765 shares of the business services provider’s stock valued at $61,196,000 after acquiring an additional 5,045 shares during the last quarter. Finally, M&G PLC grew its position in Morningstar by 5.6% during the third quarter. M&G PLC now owns 182,808 shares of the business services provider’s stock valued at $58,316,000 after acquiring an additional 9,703 shares during the last quarter. 57.02% of the stock is owned by hedge funds and other institutional investors.

Morningstar Stock Up 1.8 %

Shares of Morningstar stock opened at $346.21 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 52-week low of $269.51 and a 52-week high of $352.55. The stock has a market capitalization of $14.85 billion, a price-to-earnings ratio of 45.73 and a beta of 1.18. The company’s 50 day moving average price is $332.50 and its 200-day moving average price is $312.97.

Morningstar (NASDAQ:MORN) last issued its earnings results on Wednesday, October 23rd. The business services provider reported $2.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.01). Morningstar had a return on equity of 23.28% and a net margin of 14.69%. The firm had revenue of $569.40 million during the quarter.

Morningstar Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were paid a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date was Friday, October 4th. Morningstar’s payout ratio is 21.40%.

Analyst Ratings Changes

A number of research analysts have commented on MORN shares. UBS Group started coverage on shares of Morningstar in a research report on Tuesday, October 8th. They set a “buy” rating and a $390.00 price target on the stock. StockNews.com cut shares of Morningstar from a “buy” rating to a “hold” rating in a research report on Saturday. BMO Capital Markets restated an “outperform” rating and issued a $352.00 target price on shares of Morningstar in a report on Wednesday, August 28th. Finally, Redburn Atlantic cut shares of 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. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $360.67.

Insider Buying and Selling

In other Morningstar news, Director William M. Lyons sold 750 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $331.88, for a total transaction of $248,910.00. Following the completion of the transaction, the director now owns 12,840 shares of the company’s stock, valued at approximately $4,261,339.20. This trade represents a 5.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Joseph D. Mansueto sold 5,724 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $311.27, for a total value of $1,781,709.48. Following the transaction, the chairman now directly owns 10,551,498 shares of the company’s stock, valued at $3,284,364,782.46. This represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 61,541 shares of company stock valued at $20,234,838 over the last quarter. 39.90% of the stock is owned by company 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.