Exchange Traded Concepts LLC Buys 278 Shares of Morningstar, Inc. (NASDAQ:MORN)

Exchange Traded Concepts LLC increased its stake in shares of Morningstar, Inc. (NASDAQ:MORN) by 13.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,393 shares of the business services provider’s stock after acquiring an additional 278 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Morningstar were worth $764,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of MORN. Millennium Management LLC increased its position in Morningstar by 154.0% during the second quarter. Millennium Management LLC now owns 320,186 shares of the business services provider’s stock worth $94,727,000 after acquiring an additional 194,122 shares during the period. M&G Plc bought a new stake in Morningstar in the 1st quarter valued at $52,293,000. Norden Group LLC increased its holdings in Morningstar by 3,164.9% in the 1st quarter. Norden Group LLC now owns 129,257 shares of the business services provider’s stock valued at $39,860,000 after buying an additional 125,298 shares during the period. Assenagon Asset Management S.A. bought a new stake in Morningstar in the 2nd quarter valued at $9,366,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Morningstar in the 1st quarter valued at $9,070,000. Institutional investors own 57.02% of the company’s stock.

Analyst Ratings Changes

MORN has been the topic of several analyst reports. UBS Group initiated coverage on shares of Morningstar in a report on Tuesday, October 8th. They issued a “buy” rating and a $390.00 price target on the stock. Redburn Atlantic lowered shares of Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 price target on the stock. in a report on Wednesday, October 9th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $352.00 price target on shares of Morningstar in a report on Wednesday, August 28th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Morningstar presently has an average rating of “Moderate Buy” and a consensus target price of $360.67.

Insider Buying and Selling

In related news, CRO Daniel Joseph Dunn sold 1,600 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $320.89, for a total transaction of $513,424.00. Following the transaction, the executive now owns 12,967 shares in the company, valued at $4,160,980.63. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CRO Daniel Joseph Dunn sold 1,600 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $320.89, for a total transaction of $513,424.00. Following the transaction, the executive now owns 12,967 shares in the company, valued at $4,160,980.63. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Joseph D. Mansueto sold 1,144 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was 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 approximately $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 in the last 90 days. Corporate insiders own 39.90% of the company’s stock.

Morningstar Stock Up 0.4 %

Shares of NASDAQ:MORN opened at $344.62 on Friday. Morningstar, Inc. has a 52 week low of $219.45 and a 52 week high of $349.07. 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 company’s fifty day moving average is $318.60 and its 200-day moving average is $306.10. The company has a market capitalization of $14.73 billion, a PE ratio of 69.62 and a beta of 1.19.

Morningstar (NASDAQ:MORN) last issued its 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 company 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. Investors of record on Friday, October 4th will be given a dividend of $0.405 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $1.62 annualized dividend and a yield of 0.47%. Morningstar’s dividend payout ratio (DPR) is 32.73%.

About Morningstar

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.