Boston Financial Mangement LLC Makes New $19.67 Million Investment in Morningstar, Inc. (NASDAQ:MORN)

Boston Financial Mangement LLC bought a new stake in Morningstar, Inc. (NASDAQ:MORN) in the third quarter, HoldingsChannel reports. The firm bought 61,625 shares of the business services provider’s stock, valued at approximately $19,666,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new stake in shares of Morningstar in the 3rd quarter worth about $30,000. Blue Trust Inc. grew its holdings in 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 purchasing an additional 85 shares during the period. Crewe Advisors LLC bought a new position in shares of Morningstar during the second quarter valued at approximately $35,000. DT Investment Partners LLC purchased a new position in shares of Morningstar during the second quarter valued at approximately $36,000. Finally, Acadian Asset Management LLC boosted its position in shares of Morningstar by 73.8% in the 2nd quarter. Acadian Asset Management LLC now owns 146 shares of the business services provider’s stock worth $43,000 after purchasing an additional 62 shares in the last quarter. 57.02% of the stock is owned by hedge funds and other institutional investors.

Morningstar Stock Performance

Shares of MORN opened at $334.18 on Tuesday. Morningstar, Inc. has a 12 month low of $244.01 and a 12 month high of $349.07. The business’s fifty day simple moving average is $321.70 and its two-hundred day simple moving average is $307.27. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.63. The company has a market cap of $14.28 billion, a price-to-earnings ratio of 67.51 and a beta of 1.19.

Morningstar (NASDAQ:MORN) last released its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $2.00 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 return on equity of 22.34% and a net margin of 11.34%.

Morningstar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be issued a dividend of $0.405 per share. The ex-dividend date is Friday, October 4th. This represents a $1.62 annualized dividend and a dividend yield of 0.48%. Morningstar’s payout ratio is 32.73%.

Insider Activity at Morningstar

In other Morningstar news, Chairman Joseph D. Mansueto sold 1,144 shares of Morningstar stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $317.03, for a total value of $362,682.32. Following the completion of the sale, the chairman now owns 10,640,768 shares of the company’s stock, valued at approximately $3,373,442,679.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Morningstar news, Director William M. Lyons sold 750 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $311.60, for a total value of $233,700.00. Following the transaction, the director now owns 14,340 shares of the company’s stock, valued at approximately $4,468,344. 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 can be accessed through the SEC website. Also, Chairman Joseph D. Mansueto sold 1,144 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $317.03, for a total transaction of $362,682.32. Following the completion of the transaction, the chairman now owns 10,640,768 shares in the company, valued at $3,373,442,679.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 59,541 shares of company stock worth $18,399,192 over the last quarter. Company insiders own 39.90% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. UBS Group started coverage on Morningstar in a research report on Tuesday, October 8th. They set a “buy” rating and a $390.00 price objective for the company. BMO Capital Markets reaffirmed an “outperform” rating and issued a $352.00 price target on shares of Morningstar in a research report on Wednesday, August 28th. Finally, Redburn Atlantic downgraded shares of Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 price objective on the stock. in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Morningstar has a consensus rating of “Moderate Buy” and a consensus target price 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.