Morningstar, Inc. (NASDAQ:MORN) Shares Sold by Bamco Inc. NY

Bamco Inc. NY cut its holdings in Morningstar, Inc. (NASDAQ:MORN) by 0.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,305,588 shares of the business services provider’s stock after selling 1,349 shares during the period. Morningstar makes up about 1.1% of Bamco Inc. NY’s portfolio, making the stock its 19th largest holding. Bamco Inc. NY’s holdings in Morningstar were worth $416,639,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Tidal Investments LLC acquired a new stake in shares of Morningstar in the 1st quarter worth about $1,207,000. Cetera Advisors LLC acquired a new position in shares of Morningstar during the first quarter worth approximately $309,000. GAMMA Investing LLC grew its holdings in Morningstar by 38.6% in the 2nd quarter. GAMMA Investing LLC now owns 183 shares of the business services provider’s stock worth $54,000 after buying an additional 51 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in Morningstar by 295.4% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 2,637 shares of the business services provider’s stock valued at $780,000 after acquiring an additional 1,970 shares during the period. Finally, Cadent Capital Advisors LLC raised its stake in Morningstar by 13.2% during the 2nd quarter. Cadent Capital Advisors LLC now owns 1,396 shares of the business services provider’s stock valued at $413,000 after acquiring an additional 163 shares in the last quarter. Institutional investors own 57.02% of the company’s stock.

Morningstar Price Performance

NASDAQ:MORN opened at $354.15 on Monday. 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 business’s 50-day moving average price is $336.06 and its 200 day moving average price is $315.16. Morningstar, Inc. has a 52-week low of $269.51 and a 52-week high of $359.50. The firm has a market cap of $15.19 billion, a P/E ratio of 46.78 and a beta of 1.18.

Morningstar (NASDAQ:MORN) last announced its quarterly earnings data 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). Morningstar had a return on equity of 23.28% and a net margin of 14.69%. The business had revenue of $569.40 million during the quarter.

Morningstar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were given a dividend of $0.405 per share. The ex-dividend date was Friday, October 4th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 0.46%. Morningstar’s dividend payout ratio (DPR) is presently 21.40%.

Insider Transactions at Morningstar

In related news, Chairman Joseph D. Mansueto sold 9,062 shares of the stock in a transaction on 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 completion of the transaction, the chairman now owns 10,845,718 shares in the company, valued at $3,559,781,561.96. This trade represents a 0.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William M. Lyons sold 750 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $331.88, for a total value of $248,910.00. Following the sale, the director now owns 12,840 shares in the company, valued at approximately $4,261,339.20. The trade was a 5.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 58,019 shares of company stock valued at $19,531,012 in the last three months. 39.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

MORN has been the topic of a number of research analyst reports. BMO Capital Markets reissued an “outperform” rating and set a $352.00 price target on shares of Morningstar in a report on Wednesday, August 28th. Redburn Atlantic cut shares of Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 target price on the stock. in a research note on Wednesday, October 9th. UBS Group initiated coverage on shares of Morningstar in a research note on Tuesday, October 8th. They issued a “buy” rating and a $390.00 price target for the company. Finally, StockNews.com lowered shares of Morningstar from a “buy” rating to a “hold” rating in a research note on Saturday, November 23rd. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.