CIBC Asset Management Inc Buys 41 Shares of Morningstar, Inc. (NASDAQ:MORN)

CIBC Asset Management Inc raised its stake in Morningstar, Inc. (NASDAQ:MORN) by 3.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,259 shares of the business services provider’s stock after buying an additional 41 shares during the period. CIBC Asset Management Inc’s holdings in Morningstar were worth $402,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in MORN. V Square Quantitative Management LLC purchased a new position in shares of Morningstar during the third quarter worth approximately $30,000. Blue Trust Inc. raised its position in Morningstar by 326.9% in the 2nd quarter. Blue Trust Inc. now owns 111 shares of the business services provider’s stock worth $34,000 after purchasing an additional 85 shares during the period. Crewe Advisors LLC bought a new stake in Morningstar in the second quarter worth $35,000. DT Investment Partners LLC purchased a new stake in Morningstar during the second quarter valued at about $36,000. Finally, Venturi Wealth Management LLC grew its stake in shares of Morningstar by 101.7% during the third quarter. Venturi Wealth Management LLC now owns 121 shares of the business services provider’s stock valued at $39,000 after buying an additional 61 shares during the last quarter. Hedge funds and other institutional investors own 57.02% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on MORN. Redburn Atlantic cut 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. StockNews.com raised Morningstar from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. UBS Group started coverage on shares of Morningstar in a research note on Tuesday, October 8th. They issued a “buy” rating and a $390.00 target price on the stock. Finally, BMO Capital Markets reissued an “outperform” rating and set a $352.00 price target on shares of Morningstar in a research report on Wednesday, August 28th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $360.67.

Insiders Place Their Bets

In other Morningstar news, Chairman Joseph D. Mansueto sold 5,724 shares of Morningstar stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $311.27, for a total transaction of $1,781,709.48. Following the completion of the transaction, the chairman now directly owns 10,551,498 shares of the company’s stock, valued at $3,284,364,782.46. The trade was a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William M. Lyons sold 750 shares of the 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 completion of the sale, the director now directly owns 14,340 shares in the company, valued at $4,468,344. This trade represents a 4.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 61,541 shares of company stock worth $20,234,838 in the last 90 days. 39.90% of the stock is currently owned by corporate insiders.

Morningstar Trading Up 1.3 %

NASDAQ:MORN opened at $340.07 on Friday. The company has a market cap of $14.58 billion, a PE ratio of 45.02 and a beta of 1.18. Morningstar, Inc. has a 12 month low of $269.51 and a 12 month high of $352.55. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.55. The company has a 50 day simple moving average of $331.14 and a two-hundred day simple moving average of $312.45.

Morningstar (NASDAQ:MORN) last issued its quarterly earnings data 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). 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 Dividend Announcement

The business 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. This represents a $1.62 annualized dividend and a dividend yield of 0.48%. The ex-dividend date was Friday, October 4th. Morningstar’s payout ratio 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.