Morningstar, Inc. (NASDAQ:MORN) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its holdings in Morningstar, Inc. (NASDAQ:MORN) by 12.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 106,294 shares of the business services provider’s stock after purchasing an additional 12,159 shares during the period. Envestnet Asset Management Inc. owned about 0.25% of Morningstar worth $31,874,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Proficio Capital Partners LLC purchased a new position in shares of Morningstar in the fourth quarter worth approximately $5,790,000. Raymond James Financial Inc. purchased a new position in shares of Morningstar in the fourth quarter worth approximately $16,497,000. PNC Financial Services Group Inc. grew its position in Morningstar by 43.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,915 shares of the business services provider’s stock valued at $645,000 after purchasing an additional 579 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Morningstar by 12.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,818 shares of the business services provider’s stock valued at $2,296,000 after purchasing an additional 738 shares in the last quarter. Finally, HighTower Advisors LLC grew its position in Morningstar by 0.6% during the fourth quarter. HighTower Advisors LLC now owns 16,068 shares of the business services provider’s stock valued at $5,411,000 after purchasing an additional 102 shares in the last quarter. Institutional investors and hedge funds own 57.02% of the company’s stock.

Morningstar Trading Up 0.1%

Shares of MORN stock opened at $294.23 on Tuesday. Morningstar, Inc. has a 1 year low of $250.34 and a 1 year high of $365.00. The firm’s fifty day simple moving average is $305.78 and its 200 day simple moving average is $305.51. The firm has a market capitalization of $12.43 billion, a P/E ratio of 33.06 and a beta of 1.01. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50.

Morningstar (NASDAQ:MORN) last announced its quarterly earnings results on Wednesday, April 30th. The business services provider reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.13. The firm had revenue of $581.90 million for the quarter, compared to analyst estimates of $589.07 million. Morningstar had a net margin of 16.60% and a return on equity of 23.23%.

Morningstar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, July 11th will be issued a $0.455 dividend. This represents a $1.82 annualized dividend and a dividend yield of 0.62%. The ex-dividend date is Friday, July 11th. Morningstar’s payout ratio is 20.45%.

Insider Activity

In other news, Director Caroline J. Tsay sold 200 shares of the company’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $309.84, for a total value of $61,968.00. Following the sale, the director owned 4,345 shares of the company’s stock, valued at approximately $1,346,254.80. This represents a 4.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Joseph D. Mansueto sold 1,246 shares of the company’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $306.52, for a total transaction of $381,923.92. Following the transaction, the chairman owned 9,427,836 shares in the company, valued at approximately $2,889,820,290.72. This trade represents a 0.01% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 53,569 shares of company stock worth $16,333,474. 36.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. BMO Capital Markets lifted their target price on shares of Morningstar from $339.00 to $355.00 and gave the company an “outperform” rating in a research note on Monday, May 12th. Wall Street Zen cut shares of Morningstar from a “buy” rating to a “hold” rating in a research note on Saturday, July 5th.

Morningstar Company 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.