Cardinal Capital Management Buys 256 Shares of Morningstar, Inc. (NASDAQ:MORN)

Cardinal Capital Management lifted its stake in shares of Morningstar, Inc. (NASDAQ:MORN) by 2.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,095 shares of the business services provider’s stock after acquiring an additional 256 shares during the quarter. Cardinal Capital Management’s holdings in Morningstar were worth $3,860,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of MORN. Blue Trust Inc. lifted its stake in shares of Morningstar by 326.9% during the 2nd quarter. Blue Trust Inc. now owns 111 shares of the business services provider’s stock valued at $34,000 after buying an additional 85 shares in the last quarter. Crewe Advisors LLC bought a new stake in Morningstar during the second quarter valued at about $35,000. DT Investment Partners LLC purchased a new position in shares of Morningstar in the second quarter valued at about $36,000. Acadian Asset Management LLC boosted its stake in shares of 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. Finally, GAMMA Investing LLC grew its position in shares of Morningstar by 38.6% during the second quarter. GAMMA Investing LLC now owns 183 shares of the business services provider’s stock worth $54,000 after purchasing an additional 51 shares in the last quarter. 57.02% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Chairman Joseph D. Mansueto sold 1,144 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $317.03, for a total transaction of $362,682.32. Following the sale, the chairman now directly owns 10,640,768 shares in the company, valued at approximately $3,373,442,679.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Morningstar news, Director William M. Lyons sold 750 shares of Morningstar stock in a transaction on Monday, September 30th. The shares were sold at an average price of $316.48, for a total transaction of $237,360.00. Following the completion of the transaction, the director now directly owns 13,590 shares of the company’s stock, valued at $4,300,963.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Joseph D. Mansueto sold 1,144 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $317.03, for a total transaction of $362,682.32. Following 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 sold 59,541 shares of company stock valued at $18,399,192 in the last three months. Corporate insiders own 39.90% of the company’s stock.

Morningstar Price Performance

NASDAQ:MORN opened at $343.39 on Friday. The business’s 50-day moving average is $317.82 and its 200 day moving average is $305.83. Morningstar, Inc. has a 12 month low of $219.45 and a 12 month high of $349.07. The company has a market capitalization of $14.68 billion, a P/E ratio of 69.37 and a beta of 1.19. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.63.

Morningstar (NASDAQ:MORN) last released its quarterly earnings data on Wednesday, July 24th. The business services provider reported $2.01 earnings per share (EPS) for the quarter. The business had revenue of $571.90 million for the quarter. Morningstar had a return on equity of 22.34% and a net margin of 11.34%.

Morningstar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be given a dividend of $0.405 per share. The ex-dividend date is Friday, October 4th. This represents a $1.62 annualized dividend and a yield of 0.47%. Morningstar’s dividend payout ratio (DPR) is currently 32.73%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. BMO Capital Markets reissued an “outperform” rating and set a $352.00 target price on shares of Morningstar in a research note on Wednesday, August 28th. Redburn Atlantic cut 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. Finally, UBS Group began coverage on shares of Morningstar in a research report on Tuesday, October 8th. They set a “buy” rating and a $390.00 target price for the company. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.