Confluence Investment Management LLC Trims Stock Position in Morningstar, Inc. (NASDAQ:MORN)

Confluence Investment Management LLC decreased its position in Morningstar, Inc. (NASDAQ:MORN) by 1.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 63,393 shares of the business services provider’s stock after selling 1,039 shares during the period. Confluence Investment Management LLC’s holdings in Morningstar were worth $21,348,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new stake in shares of Morningstar in the 3rd quarter worth $30,000. Venturi Wealth Management LLC raised its holdings in shares of Morningstar by 101.7% in the third quarter. Venturi Wealth Management LLC now owns 121 shares of the business services provider’s stock valued at $39,000 after acquiring an additional 61 shares in the last quarter. Acadian Asset Management LLC lifted its stake in Morningstar by 73.8% in the second quarter. Acadian Asset Management LLC now owns 146 shares of the business services provider’s stock worth $43,000 after acquiring an additional 62 shares during the period. Farther Finance Advisors LLC grew its holdings in Morningstar by 93.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 182 shares of the business services provider’s stock worth $58,000 after acquiring an additional 88 shares in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in Morningstar during the 3rd quarter valued at about $58,000. Institutional investors own 57.02% of the company’s stock.

Insiders Place Their Bets

In other news, Chairman Joseph D. Mansueto sold 9,062 shares of Morningstar stock in a transaction on Friday, November 1st. The shares were sold at an average price of $328.22, for a total transaction of $2,974,329.64. Following the completion of the sale, the chairman now directly owns 10,845,718 shares in the company, valued at approximately $3,559,781,561.96. The trade was a 0.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Jason Dubinsky sold 3,223 shares of the business’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 sale, the chief financial officer now directly owns 17,304 shares in the company, valued at $6,106,235.52. This trade represents a 15.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,661 shares of company stock valued at $17,723,744. 39.90% of the stock is currently owned by corporate insiders.

Morningstar Stock Down 0.2 %

Shares of NASDAQ MORN traded down $0.75 during trading hours on Thursday, hitting $336.01. 14,050 shares of the stock were exchanged, compared to its average volume of 120,508. Morningstar, Inc. has a 12 month low of $269.51 and a 12 month high of $365.00. The firm has a fifty day moving average price of $344.09 and a 200-day moving average price of $323.84. 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 company has a market cap of $14.41 billion, a PE ratio of 44.39 and a beta of 1.19.

Morningstar (NASDAQ:MORN) last issued its quarterly earnings results 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 for the quarter. Morningstar had a return on equity of 23.28% and a net margin of 14.69%.

Morningstar Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 3rd will be paid a $0.455 dividend. 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 0.54%. Morningstar’s dividend payout ratio (DPR) is 24.04%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. UBS Group initiated coverage on shares of Morningstar in a research report on Tuesday, October 8th. They issued a “buy” rating and a $390.00 price target for the company. Redburn Atlantic cut Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 target price on the stock. in a research report on Wednesday, October 9th. Finally, StockNews.com raised Morningstar from a “hold” rating to a “buy” rating in a research report on Saturday, December 28th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price 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.