Covestor Ltd Has $116,000 Stock Holdings in Morningstar, Inc. (NASDAQ:MORN)

Covestor Ltd raised its position in Morningstar, Inc. (NASDAQ:MORN) by 75.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 363 shares of the business services provider’s stock after acquiring an additional 156 shares during the period. Covestor Ltd’s holdings in Morningstar were worth $116,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. BNP Paribas Financial Markets boosted its position in shares of Morningstar by 104.2% during the 1st quarter. BNP Paribas Financial Markets now owns 6,114 shares of the business services provider’s stock valued at $1,885,000 after acquiring an additional 3,120 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in Morningstar by 60.8% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 1,140 shares of the business services provider’s stock valued at $352,000 after purchasing an additional 431 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Morningstar in the 1st quarter valued at approximately $654,000. Headlands Technologies LLC acquired a new position in shares of Morningstar in the 1st quarter worth approximately $66,000. Finally, Russell Investments Group Ltd. boosted its stake in Morningstar by 0.4% in the 1st quarter. Russell Investments Group Ltd. now owns 22,413 shares of the business services provider’s stock valued at $6,911,000 after buying an additional 82 shares in the last quarter. Institutional investors own 57.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Redburn Atlantic cut Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 price target on the stock. in a research report on Wednesday, October 9th. UBS Group initiated coverage on shares of Morningstar in a research report on Tuesday, October 8th. They set a “buy” rating and a $390.00 target price for the company. StockNews.com lowered shares of Morningstar from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $352.00 price objective on shares of Morningstar in a research note on Wednesday, August 28th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Morningstar presently has a consensus rating of “Moderate Buy” and a consensus target price of $360.67.

Morningstar Stock Up 0.6 %

Shares of NASDAQ MORN opened at $350.55 on Wednesday. Morningstar, Inc. has a 12-month low of $263.79 and a 12-month high of $352.00. The firm’s 50-day simple moving average is $326.73 and its 200 day simple moving average is $310.02. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.55. The company has a market cap of $15.03 billion, a price-to-earnings ratio of 46.31 and a beta of 1.18.

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

Morningstar Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were given a $0.405 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $1.62 dividend on an annualized basis and a yield of 0.46%. Morningstar’s payout ratio is 21.40%.

Insider Activity

In related news, Chairman Joseph D. Mansueto sold 7,222 shares of Morningstar stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $349.67, for a total value of $2,525,316.74. Following the completion of the sale, the chairman now directly owns 10,801,361 shares in the company, valued at $3,776,911,900.87. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Morningstar news, Chairman Joseph D. Mansueto sold 3,838 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $315.90, for a total value of $1,212,424.20. Following the transaction, the chairman now directly owns 10,581,130 shares of the company’s stock, valued at approximately $3,342,578,967. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Joseph D. Mansueto sold 7,222 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $349.67, for a total transaction of $2,525,316.74. Following the sale, the chairman now owns 10,801,361 shares of the company’s stock, valued at $3,776,911,900.87. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,370 shares of company stock valued at $21,909,493. Company insiders own 39.90% of the company’s stock.

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.