Congress Asset Management Co. Grows Position in Morningstar, Inc. (NASDAQ:MORN)

Congress Asset Management Co. boosted its stake in shares of Morningstar, Inc. (NASDAQ:MORN) by 17.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 49,043 shares of the business services provider’s stock after purchasing an additional 7,416 shares during the period. Congress Asset Management Co. owned approximately 0.11% of Morningstar worth $16,516,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Geode Capital Management LLC grew its position in Morningstar by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 497,411 shares of the business services provider’s stock worth $158,772,000 after purchasing an additional 10,437 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Morningstar by 2.7% during the 3rd 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 period. Victory Capital Management Inc. lifted its stake in Morningstar by 12.7% during the 3rd quarter. Victory Capital Management Inc. now owns 15,843 shares of the business services provider’s stock valued at $5,056,000 after acquiring an additional 1,789 shares during the period. Quantbot Technologies LP lifted its stake in Morningstar by 259.3% during the 3rd quarter. Quantbot Technologies LP now owns 13,769 shares of the business services provider’s stock valued at $4,394,000 after acquiring an additional 9,937 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Morningstar during the 3rd quarter valued at approximately $3,181,000. Hedge funds and other institutional investors own 57.02% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Jason Dubinsky sold 3,223 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $352.88, for a total transaction of $1,137,332.24. Following the completion of the sale, the chief financial officer now owns 17,304 shares of the company’s stock, valued at $6,106,235.52. This represents a 15.70 % 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, Chairman Joseph D. Mansueto sold 9,062 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $355.22, for a total transaction of $3,219,003.64. Following the sale, the chairman now directly owns 10,738,224 shares of the company’s stock, valued at $3,814,431,929.28. The trade was a 0.08 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,106 shares of company stock worth $7,878,540. Company insiders own 39.90% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Morningstar from a “hold” rating to a “buy” rating in a research note on Wednesday, January 15th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $360.67.

Morningstar Stock Performance

MORN opened at $325.02 on Monday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a fifty day moving average price of $333.28 and a 200 day moving average price of $329.22. Morningstar, Inc. has a 1 year low of $269.51 and a 1 year high of $365.00. The stock has a market cap of $13.94 billion, a P/E ratio of 42.94 and a beta of 1.20.

Morningstar Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 3rd will be given a dividend of $0.455 per share. The ex-dividend date is Friday, October 3rd. This is a boost from Morningstar’s previous quarterly dividend of $0.41. This represents a $1.82 dividend on an annualized basis and a yield of 0.56%. Morningstar’s dividend payout ratio is currently 24.04%.

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.