Morningstar, Inc. (NASDAQ:MORN) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its stake in shares of Morningstar, Inc. (NASDAQ:MORN) by 17.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 202,140 shares of the business services provider’s stock after selling 41,877 shares during the quarter. JPMorgan Chase & Co. owned about 0.47% of Morningstar worth $64,507,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new stake in shares of Morningstar in the third quarter valued at approximately $30,000. Venturi Wealth Management LLC increased its holdings in shares of Morningstar by 101.7% during the third quarter. Venturi Wealth Management LLC now owns 121 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 61 shares during the period. Acadian Asset Management LLC grew 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. Point72 Hong Kong Ltd acquired a new stake in shares of Morningstar in the 3rd quarter worth approximately $58,000. Finally, Farther Finance Advisors LLC increased its stake in shares of Morningstar by 93.6% during the third quarter. Farther Finance Advisors LLC now owns 182 shares of the business services provider’s stock valued at $58,000 after acquiring an additional 88 shares during the period. 57.02% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on MORN shares. StockNews.com raised Morningstar from a “hold” rating to a “buy” rating in a research note on Saturday, December 28th. 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 research report on Wednesday, October 9th. Finally, UBS Group began coverage on Morningstar in a report on Tuesday, October 8th. They set a “buy” rating and a $390.00 target price for the company. One analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $360.67.

Morningstar Stock Performance

Shares of MORN opened at $334.73 on Friday. Morningstar, Inc. has a 52 week low of $269.51 and a 52 week high of $365.00. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.14 and a current ratio of 1.14. The company has a market capitalization of $14.35 billion, a PE ratio of 44.22 and a beta of 1.19. The company’s 50 day moving average price is $344.14 and its 200 day moving average price is $324.22.

Morningstar (NASDAQ:MORN) last issued its earnings results 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 during the quarter. Morningstar had a return on equity of 23.28% and a net margin of 14.69%.

Morningstar Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 3rd will be given a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 0.54%. This is an increase from Morningstar’s previous quarterly dividend of $0.41. The ex-dividend date is Friday, October 3rd. Morningstar’s payout ratio is currently 24.04%.

Insiders Place Their Bets

In other news, Chairman Joseph D. Mansueto sold 9,062 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $355.22, for a total value of $3,219,003.64. Following the sale, the chairman now directly owns 10,738,224 shares of the company’s stock, valued at approximately $3,814,431,929.28. This trade represents a 0.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William M. Lyons sold 750 shares of Morningstar stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $331.88, for a total value of $248,910.00. Following the completion of the transaction, the director now directly owns 12,840 shares in the company, valued at approximately $4,261,339.20. This represents a 5.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 51,661 shares of company stock valued at $17,723,744 over the last three months. 39.90% of the stock is currently owned by insiders.

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.