Creative Planning Increases Position in Morningstar, Inc. (NASDAQ:MORN)

Creative Planning lifted its position in shares of Morningstar, Inc. (NASDAQ:MORN) by 3.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,934 shares of the business services provider’s stock after purchasing an additional 103 shares during the period. Creative Planning’s holdings in Morningstar were worth $868,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MORN. Algert Global LLC boosted its position in shares of Morningstar by 16.7% during the 2nd quarter. Algert Global LLC now owns 20,289 shares of the business services provider’s stock worth $6,003,000 after acquiring an additional 2,898 shares in the last quarter. Millennium Management LLC boosted its holdings in Morningstar by 154.0% in the second quarter. Millennium Management LLC now owns 320,186 shares of the business services provider’s stock valued at $94,727,000 after purchasing an additional 194,122 shares in the last quarter. Dundas Partners LLP increased its stake in Morningstar by 52.8% in the second quarter. Dundas Partners LLP now owns 1,114 shares of the business services provider’s stock valued at $330,000 after purchasing an additional 385 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in Morningstar during the second quarter worth approximately $391,000. Finally, Bank of Montreal Can lifted its position in shares of Morningstar by 217.3% during the 2nd quarter. Bank of Montreal Can now owns 42,189 shares of the business services provider’s stock worth $12,632,000 after buying an additional 28,894 shares during the last quarter. Institutional investors and hedge funds own 57.02% of the company’s stock.

Morningstar Price Performance

Morningstar stock opened at $340.08 on Friday. The firm has a market capitalization of $14.54 billion, a PE ratio of 68.70 and a beta of 1.19. Morningstar, Inc. has a 52 week low of $219.45 and a 52 week high of $340.97. The firm’s 50-day simple moving average is $313.94 and its 200 day simple moving average is $304.54. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.63.

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

Morningstar Announces Dividend

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

Analyst Ratings Changes

A number of research analysts recently commented on MORN shares. Redburn Atlantic downgraded shares of 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. BMO Capital Markets reaffirmed an “outperform” rating and set a $352.00 price objective on shares of Morningstar in a report on Wednesday, August 28th. Finally, UBS Group initiated coverage on Morningstar in a report on Tuesday. They issued a “buy” rating and a $390.00 target price for the company. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Morningstar currently has a consensus rating of “Moderate Buy” and a consensus target price of $360.67.

Insider Activity

In related news, Chairman Joseph D. Mansueto sold 721 shares of Morningstar stock in a transaction dated Tuesday, September 3rd. The stock was 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 owns 10,532,253 shares in the company, valued at approximately $3,295,963,253.82. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Morningstar news, Chairman Joseph D. Mansueto sold 721 shares of Morningstar stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $312.94, for a total value of $225,629.74. Following the completion of the sale, the chairman now directly owns 10,532,253 shares of the company’s stock, valued at approximately $3,295,963,253.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Daniel Joseph Dunn sold 1,600 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $320.89, for a total value of $513,424.00. Following the completion of the transaction, the executive now owns 12,967 shares of the company’s stock, valued at $4,160,980.63. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 59,541 shares of company stock worth $18,399,192 over the last three months. 39.90% of the stock is currently owned by corporate insiders.

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.