Algert Global LLC Raises Position in Morningstar, Inc. (NASDAQ:MORN)

Algert Global LLC grew its holdings in shares of Morningstar, Inc. (NASDAQ:MORN) by 16.7% during the second quarter, HoldingsChannel reports. The firm owned 20,289 shares of the business services provider’s stock after purchasing an additional 2,898 shares during the quarter. Algert Global LLC’s holdings in Morningstar were worth $6,003,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in MORN. PNC Financial Services Group Inc. lifted its stake in shares of Morningstar by 26.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,222 shares of the business services provider’s stock worth $350,000 after purchasing an additional 257 shares during the period. Stifel Financial Corp lifted its stake in shares of Morningstar by 0.7% during the 4th quarter. Stifel Financial Corp now owns 18,225 shares of the business services provider’s stock worth $5,217,000 after purchasing an additional 126 shares during the period. Treasurer of the State of North Carolina lifted its stake in shares of Morningstar by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 11,402 shares of the business services provider’s stock worth $3,264,000 after purchasing an additional 110 shares during the period. Campbell & CO Investment Adviser LLC purchased a new position in shares of Morningstar during the 4th quarter worth $2,447,000. Finally, KBC Group NV purchased a new position in shares of Morningstar during the 4th quarter worth $136,000. Hedge funds and other institutional investors own 57.02% of the company’s stock.

Morningstar Stock Down 0.2 %

MORN opened at $317.27 on Monday. The company has a market cap of $13.56 billion, a PE ratio of 64.09 and a beta of 1.18. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.05 and a current ratio of 1.05. Morningstar, Inc. has a 1 year low of $219.45 and a 1 year high of $330.22. The firm has a 50 day moving average price of $312.80 and a 200 day moving average price of $303.43.

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 business had revenue of $571.90 million for the quarter.

Morningstar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be given a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend is Friday, October 4th. Morningstar’s payout ratio is 32.73%.

Insider Activity

In other Morningstar news, Chairman Joseph D. Mansueto sold 8,056 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $305.95, for a total value of $2,464,733.20. Following the completion of the transaction, the chairman now owns 10,517,257 shares in the company, valued at approximately $3,217,754,779.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Chairman Joseph D. Mansueto sold 8,056 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $305.95, for a total transaction of $2,464,733.20. Following the transaction, the chairman now directly owns 10,517,257 shares of the company’s stock, valued at $3,217,754,779.15. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William M. Lyons sold 750 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $311.60, for a total transaction of $233,700.00. Following the sale, the director now directly owns 14,340 shares of the company’s stock, valued at $4,468,344. The disclosure for this sale can be found here. Over the last quarter, insiders sold 62,191 shares of company stock worth $19,182,206. 39.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, 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.

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.