Morningstar, Inc. (NASDAQ:MORN) Stake Lifted by BNP Paribas Financial Markets

BNP Paribas Financial Markets increased its position in shares of Morningstar, Inc. (NASDAQ:MORN) by 16.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,983 shares of the business services provider’s stock after purchasing an additional 866 shares during the period. BNP Paribas Financial Markets’ holdings in Morningstar were worth $1,909,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Millennium Management LLC raised its stake in shares of Morningstar by 154.0% in the 2nd quarter. Millennium Management LLC now owns 320,186 shares of the business services provider’s stock worth $94,727,000 after buying an additional 194,122 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position 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 worth $383,489,000 after acquiring an additional 102,206 shares in the last quarter. Boston Financial Mangement LLC acquired a new stake in Morningstar in the 3rd quarter valued at about $19,666,000. FMR LLC boosted its position in shares of Morningstar by 10.9% during the 3rd quarter. FMR LLC now owns 400,520 shares of the business services provider’s stock valued at $127,814,000 after purchasing an additional 39,263 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Morningstar in the 2nd quarter worth approximately $9,366,000. 57.02% of the stock is owned by institutional investors.

Insider Activity at Morningstar

In related news, Director William M. Lyons sold 750 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $331.88, for a total value of $248,910.00. Following the completion of the sale, the director now owns 12,840 shares of the company’s stock, valued at approximately $4,261,339.20. The trade was a 5.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Joseph D. Mansueto sold 8,056 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $305.95, for a total transaction of $2,464,733.20. Following the transaction, the chairman now directly owns 10,517,257 shares in the company, valued at approximately $3,217,754,779.15. The trade was a 0.08 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 57,244 shares of company stock valued at $19,288,505. Corporate insiders own 39.90% of the company’s stock.

Analyst Ratings Changes

MORN has been the subject of a number of research reports. StockNews.com cut shares of Morningstar from a “buy” rating to a “hold” rating in a report on Monday, December 2nd. UBS Group assumed coverage on Morningstar in a research note on Tuesday, October 8th. They set a “buy” rating and a $390.00 price objective for the company. Redburn Atlantic cut 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 reaffirmed an “outperform” rating and set a $352.00 target price on shares of Morningstar in a report on Wednesday, August 28th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Morningstar currently has an average rating of “Moderate Buy” and an average target price of $360.67.

Morningstar Trading Up 0.3 %

NASDAQ MORN opened at $358.02 on Friday. The firm’s 50 day moving average price is $339.65 and its two-hundred day moving average price is $316.99. The stock has a market cap of $15.35 billion, a price-to-earnings ratio of 47.29 and a beta of 1.19. Morningstar, Inc. has a twelve month low of $269.51 and a twelve month high of $361.73. 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 (NASDAQ:MORN) last posted its quarterly 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 business had revenue of $569.40 million for the quarter.

Morningstar Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 4th will be issued a dividend of $0.455 per share. This is a boost from Morningstar’s previous quarterly dividend of $0.41. This represents a $1.82 annualized dividend and a dividend yield of 0.51%. Morningstar’s dividend payout ratio (DPR) is currently 21.40%.

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.