Morningstar, Inc. (NASDAQ:MORN) Position Increased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC raised its holdings in shares of Morningstar, Inc. (NASDAQ:MORN) by 9.7% in the 1st quarter, Holdings Channel reports. The firm owned 1,802 shares of the business services provider’s stock after purchasing an additional 159 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Morningstar were worth $540,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC grew its position in shares of Morningstar by 178.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 78 shares of the business services provider’s stock worth $26,000 after acquiring an additional 50 shares during the last quarter. Johnson Financial Group Inc. bought a new position in shares of Morningstar during the fourth quarter worth about $71,000. Whittier Trust Co. grew its position in shares of Morningstar by 64.2% during the fourth quarter. Whittier Trust Co. now owns 271 shares of the business services provider’s stock worth $91,000 after acquiring an additional 106 shares during the last quarter. Mizuho Bank Ltd. bought a new position in shares of Morningstar during the fourth quarter worth about $94,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in Morningstar in the 1st quarter valued at about $95,000. Institutional investors own 57.02% of the company’s stock.

Analyst Ratings Changes

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

Morningstar Stock Performance

MORN stock opened at $311.09 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market cap of $13.14 billion, a P/E ratio of 34.95 and a beta of 1.01. The firm has a 50 day simple moving average of $304.21 and a 200 day simple moving average of $307.66. Morningstar, Inc. has a 52 week low of $250.34 and a 52 week high of $365.00.

Morningstar (NASDAQ:MORN) last posted its quarterly earnings results on Wednesday, April 30th. The business services provider reported $2.23 EPS for the quarter, topping the consensus estimate of $2.10 by $0.13. The business had revenue of $581.90 million during the quarter, compared to analysts’ expectations of $589.07 million. Morningstar had a net margin of 16.60% and a return on equity of 23.23%.

Morningstar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, July 11th will be issued a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend is Friday, July 11th. Morningstar’s dividend payout ratio is currently 20.45%.

Insider Activity at Morningstar

In related news, Director Caroline J. Tsay sold 200 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $309.84, for a total transaction of $61,968.00. Following the completion of the sale, the director directly owned 4,345 shares in the company, valued at approximately $1,346,254.80. This trade represents a 4.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Joseph D. Mansueto sold 1,246 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $306.52, for a total transaction of $381,923.92. Following the sale, the chairman owned 9,427,836 shares of the company’s stock, valued at approximately $2,889,820,290.72. This represents a 0.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 53,569 shares of company stock valued at $16,333,474. 36.20% of the stock is currently owned by corporate insiders.

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.