Farther Finance Advisors LLC Buys 88 Shares of Morningstar, Inc. (NASDAQ:MORN)

Farther Finance Advisors LLC lifted its stake in Morningstar, Inc. (NASDAQ:MORN) by 93.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 182 shares of the business services provider’s stock after acquiring an additional 88 shares during the period. Farther Finance Advisors LLC’s holdings in Morningstar were worth $58,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Scout Investments Inc. raised its position in Morningstar by 75.8% in the first quarter. Scout Investments Inc. now owns 42,549 shares of the business services provider’s stock worth $13,034,000 after purchasing an additional 18,345 shares in the last quarter. M&G Plc raised its position in Morningstar by 2.0% in the second quarter. M&G Plc now owns 173,105 shares of the business services provider’s stock worth $51,239,000 after purchasing an additional 3,322 shares in the last quarter. Tidal Investments LLC acquired a new position in Morningstar in the first quarter worth about $1,207,000. Harbor Capital Advisors Inc. raised its position in Morningstar by 295.4% in the second quarter. Harbor Capital Advisors Inc. now owns 2,637 shares of the business services provider’s stock worth $780,000 after purchasing an additional 1,970 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in Morningstar in the second quarter worth about $9,366,000. Institutional investors own 57.02% of the company’s stock.

Insider Activity at Morningstar

In related news, Chairman Joseph D. Mansueto sold 6,209 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $312.12, for a total value of $1,937,953.08. Following the completion of the sale, the chairman now owns 10,574,707 shares of the company’s stock, valued at $3,300,577,548.84. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Morningstar news, Chairman Joseph D. Mansueto sold 6,209 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $312.12, for a total value of $1,937,953.08. Following the transaction, the chairman now directly owns 10,574,707 shares of the company’s stock, valued at approximately $3,300,577,548.84. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Joseph D. Mansueto sold 9,062 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $328.22, for a total transaction of $2,974,329.64. Following the completion of the transaction, the chairman now directly owns 10,845,718 shares in the company, valued at approximately $3,559,781,561.96. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 67,370 shares of company stock valued at $21,909,493 over the last quarter. Corporate insiders own 39.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Redburn Atlantic lowered shares of Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 price target for the company. in a research report on Wednesday, October 9th. UBS Group assumed coverage on shares of Morningstar in a research report on Tuesday, October 8th. They issued a “buy” rating and a $390.00 price target for the company. StockNews.com lowered shares of Morningstar from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, 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. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $360.67.

Morningstar Stock Performance

NASDAQ MORN opened at $345.47 on Thursday. The firm has a market cap of $14.81 billion, a price-to-earnings ratio of 46.36 and a beta of 1.18. The company has a 50 day moving average of $327.49 and a 200-day moving average of $310.48. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.55. Morningstar, Inc. has a 1-year low of $264.79 and a 1-year high of $352.55.

Morningstar (NASDAQ:MORN) last posted its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $2.00 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.01). The firm had revenue of $569.40 million for the quarter. Morningstar had a return on equity of 23.28% and a net margin of 14.69%.

Morningstar Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were issued a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Friday, October 4th. Morningstar’s dividend payout ratio is currently 21.40%.

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.