Cresset Asset Management LLC Has $464,000 Position in Morningstar, Inc. $MORN

Cresset Asset Management LLC raised its stake in Morningstar, Inc. (NASDAQ:MORN) by 6.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,546 shares of the business services provider’s stock after purchasing an additional 93 shares during the period. Cresset Asset Management LLC’s holdings in Morningstar were worth $464,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its holdings in shares of Morningstar by 4.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 305,014 shares of the business services provider’s stock valued at $102,719,000 after purchasing an additional 13,155 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Morningstar by 18.6% in the fourth quarter. Northern Trust Corp now owns 230,149 shares of the business services provider’s stock valued at $77,505,000 after purchasing an additional 36,133 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Morningstar by 1.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 196,465 shares of the business services provider’s stock valued at $58,914,000 after purchasing an additional 2,270 shares during the last quarter. Premier Fund Managers Ltd increased its holdings in shares of Morningstar by 13.4% in the first quarter. Premier Fund Managers Ltd now owns 170,068 shares of the business services provider’s stock valued at $50,341,000 after purchasing an additional 20,068 shares during the last quarter. Finally, Balyasny Asset Management L.P. acquired a new position in shares of Morningstar in the fourth quarter valued at $56,584,000. 57.02% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Morningstar

In other news, Chairman Joseph D. Mansueto sold 7,250 shares of the business’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $261.21, for a total value of $1,893,772.50. Following the completion of the transaction, the chairman directly owned 9,394,257 shares in the company, valued at approximately $2,453,873,870.97. The trade was a 0.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders have sold 74,865 shares of company stock valued at $19,623,447. 36.20% of the stock is currently owned by insiders.

Morningstar Price Performance

Shares of NASDAQ:MORN opened at $263.82 on Monday. The firm has a 50 day moving average of $285.36 and a 200-day moving average of $293.96. The stock has a market capitalization of $11.13 billion, a PE ratio of 28.10 and a beta of 0.96. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.52. Morningstar, Inc. has a 12 month low of $250.34 and a 12 month high of $365.00.

Morningstar (NASDAQ:MORN) last issued its earnings results on Wednesday, July 30th. The business services provider reported $2.40 EPS for the quarter, beating the consensus estimate of $2.21 by $0.19. The company had revenue of $605.10 million during the quarter, compared to analysts’ expectations of $605.84 million. Morningstar had a net margin of 17.22% and a return on equity of 23.54%.

Morningstar Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Friday, July 11th were given a $0.455 dividend. The ex-dividend date was Friday, July 11th. This represents a $1.82 annualized dividend and a dividend yield of 0.7%. Morningstar’s payout ratio is presently 19.38%.

Analyst Ratings Changes

MORN has been the topic of several research reports. BMO Capital Markets upped their price objective on shares of Morningstar from $339.00 to $355.00 and gave the company an “outperform” rating in a report on Monday, May 12th. Wall Street Zen downgraded shares of Morningstar from a “buy” rating to a “hold” rating in a research note on Saturday, July 5th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Morningstar presently has a consensus rating of “Moderate Buy” and a consensus target price of $361.67.

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.