Cerity Partners LLC Invests $867,000 in Morningstar, Inc. (NASDAQ:MORN)

Cerity Partners LLC purchased a new position in Morningstar, Inc. (NASDAQ:MORN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 3,029 shares of the business services provider’s stock, valued at approximately $867,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MORN. Harvest Fund Management Co. Ltd acquired a new position in shares of Morningstar in the 3rd quarter worth approximately $42,000. Fifth Third Bancorp increased its stake in shares of Morningstar by 55.2% in the 3rd quarter. Fifth Third Bancorp now owns 194 shares of the business services provider’s stock valued at $45,000 after acquiring an additional 69 shares in the last quarter. Exchange Traded Concepts LLC bought a new stake in shares of Morningstar in the 3rd quarter valued at $48,000. CVA Family Office LLC bought a new stake in shares of Morningstar in the 4th quarter valued at $65,000. Finally, CWM LLC increased its stake in Morningstar by 42.7% during the 3rd quarter. CWM LLC now owns 284 shares of the business services provider’s stock valued at $67,000 after purchasing an additional 85 shares in the last quarter. Institutional investors and hedge funds own 57.02% of the company’s stock.

Insider Activity

In other news, Chairman Joseph D. Mansueto sold 7,470 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $277.23, for a total transaction of $2,070,908.10. Following the sale, the chairman now directly owns 10,927,151 shares in the company, valued at $3,029,334,071.73. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, Chairman Joseph D. Mansueto sold 7,470 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $277.23, for a total value of $2,070,908.10. Following the transaction, the chairman now directly owns 10,927,151 shares in the company, valued at $3,029,334,071.73. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Steven N. Kaplan sold 1,250 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $306.81, for a total transaction of $383,512.50. Following the completion of the transaction, the director now owns 44,427 shares in the company, valued at $13,630,647.87. The disclosure for this sale can be found here. Insiders have sold a total of 95,544 shares of company stock worth $27,733,515 over the last ninety days. Company insiders own 39.90% of the company’s stock.

Morningstar Price Performance

Shares of NASDAQ:MORN opened at $303.01 on Tuesday. The company’s 50-day moving average is $299.65 and its 200 day moving average is $279.20. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market capitalization of $12.95 billion, a P/E ratio of 92.38 and a beta of 1.15. Morningstar, Inc. has a fifty-two week low of $163.28 and a fifty-two week high of $316.05.

Morningstar (NASDAQ:MORN) last released its quarterly earnings data on Thursday, February 22nd. The business services provider reported $1.97 EPS for the quarter. The business had revenue of $538.70 million for the quarter. Morningstar had a net margin of 6.92% and a return on equity of 18.54%.

Morningstar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, April 5th will be given a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 0.53%. The ex-dividend date is Thursday, April 4th. Morningstar’s dividend payout ratio is presently 49.39%.

Analysts Set New Price Targets

MORN has been the subject of several recent analyst reports. TheStreet upgraded shares of Morningstar from a “c” rating to a “b” rating in a research note on Friday, February 23rd. StockNews.com raised shares of Morningstar from a “hold” rating to a “buy” rating in a report on Thursday, February 29th.

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.