Morningstar, Inc. (NASDAQ:MORN) Shares Purchased by Farther Finance Advisors LLC

Farther Finance Advisors LLC boosted its holdings in Morningstar, Inc. (NASDAQ:MORN) by 93.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 182 shares of the business services provider’s stock after buying an additional 88 shares during the quarter. Farther Finance Advisors LLC’s holdings in Morningstar were worth $58,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in MORN. Fonville Wealth Management LLC purchased a new position in Morningstar during the 3rd quarter worth approximately $216,000. Congress Asset Management Co. grew its position in Morningstar by 16.9% during the 3rd quarter. Congress Asset Management Co. now owns 41,627 shares of the business services provider’s stock worth $13,284,000 after purchasing an additional 6,011 shares in the last quarter. Diversify Wealth Management LLC grew its position in Morningstar by 6.8% during the 3rd quarter. Diversify Wealth Management LLC now owns 2,245 shares of the business services provider’s stock worth $767,000 after purchasing an additional 143 shares in the last quarter. Boston Financial Mangement LLC purchased a new position in Morningstar during the 3rd quarter worth approximately $19,666,000. Finally, State of Alaska Department of Revenue grew its position in Morningstar by 2.1% during the 3rd quarter. State of Alaska Department of Revenue now owns 15,202 shares of the business services provider’s stock worth $4,850,000 after purchasing an additional 315 shares in the last quarter. Institutional investors and hedge funds own 57.02% of the company’s stock.

Morningstar Trading Down 1.4 %

Shares of NASDAQ:MORN opened at $345.47 on Thursday. The stock has a market capitalization of $14.81 billion, a PE ratio of 46.36 and a beta of 1.18. Morningstar, Inc. has a 1 year low of $264.79 and a 1 year high of $352.55. The firm has a fifty day moving average price of $327.49 and a 200 day moving average price of $310.48. 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 (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). The business 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 firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were issued a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date was Friday, October 4th. Morningstar’s dividend payout ratio is presently 21.40%.

Insider Buying and Selling

In other Morningstar news, Chairman Joseph D. Mansueto sold 721 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $312.94, for a total transaction of $225,629.74. Following the completion of the sale, the chairman now directly owns 10,532,253 shares in the company, valued at $3,295,963,253.82. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Morningstar news, Chairman Joseph D. Mansueto sold 721 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $312.94, for a total transaction of $225,629.74. Following the completion of the sale, the chairman now directly owns 10,532,253 shares in the company, valued at $3,295,963,253.82. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Joseph D. Mansueto sold 7,222 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $349.67, for a total transaction of $2,525,316.74. Following the sale, the chairman now owns 10,801,361 shares of the company’s stock, valued at $3,776,911,900.87. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 67,370 shares of company stock worth $21,909,493. Corporate insiders own 39.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on MORN shares. StockNews.com cut shares of Morningstar from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. UBS Group started coverage on shares of Morningstar in a report on Tuesday, October 8th. They set a “buy” rating and a $390.00 price target on the stock. BMO Capital Markets restated an “outperform” rating and set a $352.00 price target on shares of Morningstar in a report on Wednesday, August 28th. 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 report on Wednesday, October 9th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Morningstar currently has a consensus rating of “Moderate Buy” and a consensus price target of $360.67.

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.