Cyndeo Wealth Partners LLC Invests $203,000 in Morningstar, Inc. (NASDAQ:MORN)

Cyndeo Wealth Partners LLC purchased a new position in Morningstar, Inc. (NASDAQ:MORN) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 636 shares of the business services provider’s stock, valued at approximately $203,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Scout Investments Inc. increased its holdings in Morningstar by 75.8% in the 1st quarter. Scout Investments Inc. now owns 42,549 shares of the business services provider’s stock worth $13,034,000 after acquiring an additional 18,345 shares in the last quarter. SG Americas Securities LLC increased its holdings in Morningstar by 506.2% in the 1st quarter. SG Americas Securities LLC now owns 13,202 shares of the business services provider’s stock worth $4,071,000 after acquiring an additional 11,024 shares in the last quarter. M&G Plc increased its holdings in Morningstar by 2.0% in the 2nd quarter. M&G Plc now owns 173,105 shares of the business services provider’s stock worth $51,239,000 after acquiring an additional 3,322 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Morningstar by 2.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 291,490 shares of the business services provider’s stock worth $89,887,000 after acquiring an additional 6,092 shares in the last quarter. Finally, Tidal Investments LLC purchased a new stake in Morningstar in the 1st quarter worth $1,207,000. Hedge funds and other institutional investors own 57.02% of the company’s stock.

Insider Activity

In other news, CRO Daniel Joseph Dunn sold 1,600 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $320.89, for a total transaction of $513,424.00. Following the transaction, the executive now owns 12,967 shares of the company’s stock, valued at approximately $4,160,980.63. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Morningstar news, CRO Daniel Joseph Dunn sold 1,600 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $320.89, for a total value of $513,424.00. Following the transaction, the executive now owns 12,967 shares of the company’s stock, valued at $4,160,980.63. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Joseph D. Mansueto sold 721 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $312.94, for a total transaction of $225,629.74. Following the completion of the transaction, the chairman now directly owns 10,532,253 shares in the company, valued at $3,295,963,253.82. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 59,541 shares of company stock valued at $18,399,192. 39.90% of the stock is currently owned by insiders.

Morningstar Price Performance

Morningstar stock opened at $343.42 on Wednesday. Morningstar, Inc. has a 52-week low of $219.45 and a 52-week high of $349.07. The firm has a market capitalization of $14.68 billion, a price-to-earnings ratio of 69.38 and a beta of 1.19. The company has a fifty day simple moving average of $320.01 and a 200-day simple moving average of $306.65. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.63.

Morningstar (NASDAQ:MORN) last announced its quarterly earnings results on Wednesday, July 24th. The business services provider reported $2.01 earnings per share for the quarter. The firm had revenue of $571.90 million for the quarter. Morningstar had a net margin of 11.34% and a return on equity of 22.34%.

Morningstar Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be given a dividend of $0.405 per share. The ex-dividend date is Friday, October 4th. This represents a $1.62 annualized dividend and a dividend yield of 0.47%. Morningstar’s payout ratio is 32.73%.

Wall Street Analyst Weigh In

Several brokerages recently commented on MORN. BMO Capital Markets reissued an “outperform” rating and issued a $352.00 price target on shares of Morningstar in a report on Wednesday, August 28th. UBS Group started coverage on shares of Morningstar in a report on Tuesday, October 8th. They set a “buy” rating and a $390.00 target price for the company. Finally, Redburn Atlantic lowered shares of Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 target price 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 assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $360.67.

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.