Morningstar, Inc. (NASDAQ:MORN) Position Raised by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans grew its holdings in shares of Morningstar, Inc. (NASDAQ:MORN) by 120.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,879 shares of the business services provider’s stock after purchasing an additional 7,579 shares during the period. Thrivent Financial for Lutherans’ holdings in Morningstar were worth $4,428,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of MORN. V Square Quantitative Management LLC acquired a new stake in Morningstar during the 3rd quarter worth about $30,000. Blue Trust Inc. boosted its position in shares of Morningstar by 326.9% in the second quarter. Blue Trust Inc. now owns 111 shares of the business services provider’s stock worth $34,000 after buying an additional 85 shares during the period. Crewe Advisors LLC acquired a new position in Morningstar during the second quarter valued at $35,000. DT Investment Partners LLC acquired a new position in Morningstar during the second quarter valued at $36,000. Finally, Venturi Wealth Management LLC lifted its stake in Morningstar by 101.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 121 shares of the business services provider’s stock worth $39,000 after acquiring an additional 61 shares in the last quarter. Institutional investors own 57.02% of the company’s stock.

Morningstar Stock Up 1.8 %

Morningstar stock opened at $346.21 on Monday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.55. Morningstar, Inc. has a 1-year low of $269.51 and a 1-year high of $352.55. The firm’s fifty day simple moving average is $332.50 and its 200-day simple moving average is $313.06. The company has a market capitalization of $14.85 billion, a P/E ratio of 45.73 and a beta of 1.18.

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

Morningstar Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend was Friday, October 4th. This represents a $1.62 annualized dividend and a yield of 0.47%. Morningstar’s dividend payout ratio (DPR) is presently 21.40%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on MORN shares. StockNews.com downgraded Morningstar from a “buy” rating to a “hold” rating in a report on Saturday. 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 report on Wednesday, October 9th. UBS Group began coverage on Morningstar in a report on Tuesday, October 8th. They set a “buy” rating and a $390.00 price objective for the company. Finally, BMO Capital Markets restated an “outperform” rating and issued a $352.00 target price on shares of Morningstar in a research note on Wednesday, August 28th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Morningstar currently has an average rating of “Moderate Buy” and a consensus target price of $360.67.

Insider Activity

In related news, Chairman Joseph D. Mansueto sold 275 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $336.67, for a total transaction of $92,584.25. Following the completion of the transaction, the chairman now owns 10,788,103 shares of the company’s stock, valued at approximately $3,632,030,637.01. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William M. Lyons sold 750 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $331.88, for a total value of $248,910.00. Following the completion of the sale, the director now directly owns 12,840 shares in the company, valued at $4,261,339.20. This trade represents a 5.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 61,541 shares of company stock valued at $20,234,838 over the last 90 days. 39.90% of the stock is currently owned by company insiders.

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.