Crossmark Global Holdings Inc. Buys 531 Shares of Morningstar, Inc. (NASDAQ:MORN)

Crossmark Global Holdings Inc. lifted its position in Morningstar, Inc. (NASDAQ:MORN) by 30.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,258 shares of the business services provider’s stock after purchasing an additional 531 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Morningstar were worth $720,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. V Square Quantitative Management LLC acquired a new position in Morningstar in the third quarter valued at about $30,000. Blue Trust Inc. boosted its holdings in shares of 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 acquiring an additional 85 shares in the last quarter. Crewe Advisors LLC bought a new stake in Morningstar during the 2nd quarter worth approximately $35,000. DT Investment Partners LLC acquired a new stake in Morningstar during the 2nd quarter valued at $36,000. Finally, Acadian Asset Management LLC raised its position in Morningstar by 73.8% in the 2nd quarter. Acadian Asset Management LLC now owns 146 shares of the business services provider’s stock valued at $43,000 after purchasing an additional 62 shares during the last quarter. Institutional investors and hedge funds own 57.02% of the company’s stock.

Morningstar Price Performance

Morningstar stock opened at $337.57 on Friday. The business’s 50-day simple moving average is $328.76 and its 200 day simple moving average is $310.94. 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 stock has a market cap of $14.48 billion, a price-to-earnings ratio of 44.59 and a beta of 1.18. Morningstar, Inc. has a 12-month low of $264.79 and a 12-month high of $352.55.

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

Morningstar Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were issued a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend was Friday, October 4th. Morningstar’s dividend payout ratio is presently 21.40%.

Insider Buying and Selling at Morningstar

In other news, Chairman Joseph D. Mansueto sold 3,838 shares of the business’s stock in a transaction 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 completion of the transaction, the chairman now owns 10,581,130 shares of the company’s stock, valued at $3,342,578,967. The trade was a 0.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William M. Lyons sold 750 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $311.60, for a total value of $233,700.00. Following the completion of the transaction, the director now directly owns 14,340 shares of the company’s stock, valued at approximately $4,468,344. The trade was a 4.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,195 shares of company stock worth $23,252,260. Insiders own 39.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MORN. StockNews.com upgraded Morningstar from a “hold” rating to a “buy” rating in a report on Friday. BMO Capital Markets restated an “outperform” rating and issued a $352.00 price objective on shares of Morningstar in a research report on Wednesday, August 28th. UBS Group initiated coverage on shares of Morningstar in a research note on Tuesday, October 8th. They issued a “buy” rating and a $390.00 target price for the company. Finally, Redburn Atlantic cut shares of Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 price target on the stock. in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Morningstar currently has a consensus rating of “Moderate Buy” and a consensus 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.