Procyon Advisors LLC Has $628,000 Stock Holdings in Morningstar, Inc. (NASDAQ:MORN)

Procyon Advisors LLC trimmed its holdings in Morningstar, Inc. (NASDAQ:MORN) by 1.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,967 shares of the business services provider’s stock after selling 38 shares during the quarter. Procyon Advisors LLC’s holdings in Morningstar were worth $628,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Blue Trust Inc. lifted its stake in shares of Morningstar by 326.9% in the 2nd quarter. Blue Trust Inc. now owns 111 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 85 shares during the period. Crewe Advisors LLC acquired a new position in shares of Morningstar in the 2nd quarter valued at about $35,000. DT Investment Partners LLC acquired a new position in shares of Morningstar in the 2nd quarter valued at about $36,000. Acadian Asset Management LLC increased its position in Morningstar by 73.8% in the 2nd quarter. Acadian Asset Management LLC now owns 146 shares of the business services provider’s stock valued at $43,000 after buying an additional 62 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in Morningstar by 38.6% in the 2nd quarter. GAMMA Investing LLC now owns 183 shares of the business services provider’s stock valued at $54,000 after buying an additional 51 shares in the last quarter. 57.02% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on MORN shares. UBS Group started coverage on Morningstar in a research report on Tuesday, October 8th. They issued a “buy” rating and a $390.00 target price for the company. Redburn Atlantic lowered Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 target price for the company. in a research report on Wednesday, October 9th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $352.00 target price on shares of Morningstar in a research report on Wednesday, August 28th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Morningstar presently has an average rating of “Moderate Buy” and an average price target of $360.67.

Insider Activity

In other news, CRO Daniel Joseph Dunn sold 1,600 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was 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 directly owns 12,967 shares of the company’s stock, valued at $4,160,980.63. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Chairman Joseph D. Mansueto sold 9,062 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $302.64, for a total value of $2,742,523.68. Following the transaction, the chairman now owns 10,631,706 shares in the company, valued at approximately $3,217,579,503.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Daniel Joseph Dunn sold 1,600 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $4,160,980.63. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 59,541 shares of company stock valued at $18,399,192 over the last three months. Corporate insiders own 39.90% of the company’s stock.

Morningstar Stock Performance

Shares of MORN opened at $344.28 on Wednesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a 50 day moving average price of $316.16 and a two-hundred day moving average price of $305.29. The firm has a market capitalization of $14.72 billion, a P/E ratio of 69.55 and a beta of 1.19. Morningstar, Inc. has a 52 week low of $219.45 and a 52 week high of $349.07.

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

Morningstar Announces Dividend

The firm also recently announced 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. This represents a $1.62 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Friday, October 4th. Morningstar’s dividend payout ratio is presently 32.73%.

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.