Algert Global LLC Purchases 1,070 Shares of Morningstar, Inc. $MORN

Key Points

• Algert Global LLC increased its holdings in Morningstar, Inc. by 2.9% in Q1, owning 38,156 shares valued at approximately $11.44 million.
• Several hedge funds have also increased their positions, with Wealth Enhancement Advisory Services growing its stake by 9.7% and Envestnet Asset Management by 12.9% in the same quarter.
• Morningstar recently reported earnings of $2.40 EPS for the quarter, exceeding analysts' expectations, and announced a quarterly dividend of $0.455.

Algert Global LLC lifted its stake in shares of Morningstar, Inc. (NASDAQ:MORN - Free Report) by 2.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 38,156 shares of the business services provider's stock after purchasing an additional 1,070 shares during the period. Algert Global LLC owned approximately 0.09% of Morningstar worth $11,442,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of MORN. Hughes Financial Services LLC acquired a new position in shares of Morningstar during the first quarter worth approximately $25,000. Larson Financial Group LLC lifted its position in shares of Morningstar by 5,066.7% during the first quarter. Larson Financial Group LLC now owns 155 shares of the business services provider's stock worth $46,000 after purchasing an additional 152 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Morningstar by 172.3% during the first quarter. Blue Trust Inc. now owns 177 shares of the business services provider's stock worth $53,000 after purchasing an additional 112 shares in the last quarter. Johnson Financial Group Inc. acquired a new position in shares of Morningstar during the fourth quarter worth approximately $71,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Morningstar during the first quarter worth approximately $95,000. 57.02% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Morningstar news, Chairman Joseph D. Mansueto sold 7,250 shares of the company's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $258.08, for a total value of $1,871,080.00. Following the completion of the sale, the chairman owned 9,347,481 shares of the company's stock, valued at approximately $2,412,397,896.48. This represents a 0.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 59,351 shares of company stock valued at $15,557,265 over the last ninety days. 36.20% of the stock is currently owned by corporate insiders.

Morningstar Trading Up 2.8%

NASDAQ MORN traded up $7.2050 during trading hours on Friday, hitting $265.8750. The company's stock had a trading volume of 88,487 shares, compared to its average volume of 223,832. The stock has a fifty day moving average of $286.06 and a 200 day moving average of $294.83. Morningstar, Inc. has a twelve month low of $250.34 and a twelve month high of $365.00. The firm has a market capitalization of $11.21 billion, a P/E ratio of 28.31 and a beta of 0.96. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.52.

Morningstar (NASDAQ:MORN - Get Free Report) 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. Morningstar had a net margin of 17.22% and a return on equity of 23.54%. The firm had revenue of $605.10 million during the quarter, compared to the consensus estimate of $605.84 million.

Morningstar Announces Dividend

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

Analyst Upgrades and Downgrades

MORN has been the topic of a number of research reports. Wall Street Zen lowered shares of Morningstar from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. BMO Capital Markets increased 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. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target 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.