Boston Financial Mangement LLC Buys Shares of 61,625 Morningstar, Inc. (NASDAQ:MORN)

Boston Financial Mangement LLC acquired a new stake in Morningstar, Inc. (NASDAQ:MORN) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 61,625 shares of the business services provider’s stock, valued at approximately $19,666,000. Boston Financial Mangement LLC owned approximately 0.14% of Morningstar as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its holdings in Morningstar by 0.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,099,502 shares of the business services provider’s stock valued at $325,288,000 after purchasing an additional 4,822 shares during the period. Millennium Management LLC raised its position in shares of Morningstar by 154.0% in the second quarter. Millennium Management LLC now owns 320,186 shares of the business services provider’s stock worth $94,727,000 after buying an additional 194,122 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Morningstar by 2.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 291,490 shares of the business services provider’s stock valued at $89,887,000 after buying an additional 6,092 shares during the period. Dimensional Fund Advisors LP grew its position in Morningstar by 1.8% during the second quarter. Dimensional Fund Advisors LP now owns 272,075 shares of the business services provider’s stock worth $80,492,000 after buying an additional 4,722 shares in the last quarter. Finally, M&G Plc increased its stake in Morningstar by 2.0% in the 2nd quarter. M&G Plc now owns 173,105 shares of the business services provider’s stock worth $51,239,000 after acquiring an additional 3,322 shares during the last quarter. 57.02% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. BMO Capital Markets reissued an “outperform” rating and set a $352.00 price objective on shares of Morningstar in a report on Wednesday, August 28th. UBS Group started coverage on shares of Morningstar in a research note on Tuesday, October 8th. They issued a “buy” rating and a $390.00 price target for the company. Finally, Redburn Atlantic cut shares of Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 price objective on the stock. in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $360.67.

Insider Buying and Selling at Morningstar

In related news, Chairman Joseph D. Mansueto sold 721 shares of Morningstar stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $312.94, for a total value of $225,629.74. Following the transaction, the chairman now directly owns 10,532,253 shares of the company’s stock, valued at $3,295,963,253.82. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Chairman Joseph D. Mansueto sold 1,144 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $317.03, for a total transaction of $362,682.32. Following the completion of the sale, the chairman now directly owns 10,640,768 shares in the company, valued at approximately $3,373,442,679.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Joseph D. Mansueto sold 721 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $312.94, for a total value of $225,629.74. Following the transaction, the chairman now owns 10,532,253 shares in the company, valued at approximately $3,295,963,253.82. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,541 shares of company stock worth $18,399,192. 39.90% of the stock is currently owned by insiders.

Morningstar Stock Up 0.3 %

Shares of NASDAQ MORN opened at $334.18 on Tuesday. Morningstar, Inc. has a one year low of $244.01 and a one year high of $349.07. The stock has a market capitalization of $14.28 billion, a P/E ratio of 67.51 and a beta of 1.19. The firm’s 50 day simple moving average is $321.70 and its two-hundred day simple moving average is $307.27. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.05 and a quick ratio of 1.05.

Morningstar (NASDAQ:MORN) last posted its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $2.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.01). Morningstar had a net margin of 11.34% and a return on equity of 22.34%. The business had revenue of $569.40 million for the quarter.

Morningstar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be paid a $0.405 dividend. The ex-dividend date is Friday, October 4th. This represents a $1.62 dividend on an annualized basis and a yield of 0.48%. Morningstar’s dividend payout ratio (DPR) is currently 32.73%.

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.