Everence Capital Management Inc. Takes Position in Morningstar, Inc. (NASDAQ:MORN)

Everence Capital Management Inc. bought a new position in shares of Morningstar, Inc. (NASDAQ:MORN) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 700 shares of the business services provider’s stock, valued at approximately $236,000.

Several other institutional investors have also bought and sold shares of the stock. Geode Capital Management LLC lifted its holdings in shares of Morningstar by 2.1% during the third quarter. Geode Capital Management LLC now owns 497,411 shares of the business services provider’s stock valued at $158,772,000 after acquiring an additional 10,437 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings 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 purchasing an additional 5,045 shares during the last quarter. Victory Capital Management Inc. boosted its position in Morningstar by 12.7% in the third quarter. Victory Capital Management Inc. now owns 15,843 shares of the business services provider’s stock valued at $5,056,000 after buying an additional 1,789 shares in the last quarter. Quantbot Technologies LP grew its stake in Morningstar by 259.3% during the third quarter. Quantbot Technologies LP now owns 13,769 shares of the business services provider’s stock worth $4,394,000 after buying an additional 9,937 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Morningstar during the third quarter worth about $3,181,000. Institutional investors and hedge funds own 57.02% of the company’s stock.

Morningstar Stock Up 0.4 %

NASDAQ:MORN opened at $322.36 on Thursday. The company has a market cap of $13.82 billion, a price-to-earnings ratio of 42.58 and a beta of 1.20. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.14 and a current ratio of 1.14. The stock’s fifty day moving average price is $343.55 and its two-hundred day moving average price is $325.19. Morningstar, Inc. has a 52-week low of $269.51 and a 52-week high of $365.00.

Morningstar (NASDAQ:MORN) last posted its quarterly 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 firm 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 Increases Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MORN. Redburn Atlantic downgraded Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 target price on the stock. in a report on Wednesday, October 9th. StockNews.com cut Morningstar from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, UBS Group started coverage on Morningstar in a report on Tuesday, October 8th. They issued a “buy” rating and a $390.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $360.67.

Insider Activity at Morningstar

In other Morningstar news, CFO Jason Dubinsky sold 3,223 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $352.88, for a total value of $1,137,332.24. Following the transaction, the chief financial officer now owns 17,304 shares of the company’s stock, valued at approximately $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 SEC, which can be accessed through the SEC website. Also, Chairman Joseph D. Mansueto sold 9,062 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $328.22, for a total value of $2,974,329.64. Following the transaction, the chairman now owns 10,845,718 shares in the company, valued at approximately $3,559,781,561.96. This trade represents a 0.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 51,661 shares of company stock worth $17,723,744 over the last ninety days. Company insiders own 39.90% of the company’s stock.

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.