Cresset Asset Management LLC Reduces Position in Morningstar, Inc. (NASDAQ:MORN)

Cresset Asset Management LLC lessened its holdings in shares of Morningstar, Inc. (NASDAQ:MORN - Free Report) by 37.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,453 shares of the business services provider's stock after selling 877 shares during the period. Cresset Asset Management LLC's holdings in Morningstar were worth $489,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Smartleaf Asset Management LLC boosted 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 valued at $26,000 after buying an additional 50 shares during the period. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Morningstar during the fourth quarter valued at approximately $28,000. R Squared Ltd purchased a new position in shares of Morningstar during the fourth quarter valued at approximately $40,000. V Square Quantitative Management LLC boosted its position in shares of Morningstar by 49.5% during the fourth quarter. V Square Quantitative Management LLC now owns 139 shares of the business services provider's stock valued at $47,000 after buying an additional 46 shares during the period. Finally, Johnson Financial Group Inc. purchased a new position in shares of Morningstar during the fourth quarter valued at approximately $71,000. Hedge funds and other institutional investors own 57.02% of the company's stock.

Morningstar Stock Down 0.3%

Shares of NASDAQ:MORN opened at $306.41 on Thursday. Morningstar, Inc. has a 52-week low of $250.34 and a 52-week high of $365.00. The stock has a market cap of $12.95 billion, a P/E ratio of 40.48 and a beta of 0.99. The business's 50 day moving average is $286.98 and its 200 day moving average is $317.60. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.55.

Morningstar (NASDAQ:MORN - Get Free Report) last posted its earnings results on Wednesday, April 30th. The business services provider reported $2.23 earnings per share for the quarter, topping analysts' consensus estimates of $2.10 by $0.13. The company had revenue of $581.90 million during the quarter, compared to analyst estimates of $589.07 million. Morningstar had a return on equity of 23.28% and a net margin of 14.69%.

Morningstar Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th were issued a dividend of $0.455 per share. The ex-dividend date of this dividend was Friday, April 4th. This represents a $1.82 dividend on an annualized basis and a yield of 0.59%. This is a positive change from Morningstar's previous quarterly dividend of $0.41. Morningstar's dividend payout ratio is currently 20.45%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on MORN shares. StockNews.com upgraded Morningstar from a "hold" rating to a "buy" rating in a research report on Friday, May 2nd. BMO Capital Markets increased their price objective on Morningstar from $339.00 to $355.00 and gave the stock an "outperform" rating in a research note on Monday.

Insiders Place Their Bets

In other Morningstar news, Chairman Joseph D. Mansueto sold 7,250 shares of the company's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $297.25, for a total transaction of $2,155,062.50. Following the completion of the sale, the chairman now owns 9,495,705 shares in the company, valued at $2,822,598,311.25. This represents a 0.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 63,223 shares of company stock worth $19,542,793 over the last 90 days. Company insiders own 36.20% of the company's stock.

Morningstar 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.

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