Morningstar, Inc. $MORN is Tribune Investment Group LP's 5th Largest Position

Key Points

• Tribune Investment Group LP increased its stake in Morningstar, Inc. by 125%, acquiring a total of 36,000 shares, making the company its fifth-largest position.
• Morningstar reported $2.40 EPS for the last quarter, exceeding the consensus estimate of $2.21, with revenue of $605.10 million, slightly below analyst expectations.
• The company declared a quarterly dividend of $0.455 per share, reflecting a 0.7% yield and a payout ratio of 19.38%.

Tribune Investment Group LP increased its holdings in shares of Morningstar, Inc. (NASDAQ:MORN - Free Report) by 125.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 36,000 shares of the business services provider's stock after acquiring an additional 20,000 shares during the quarter. Morningstar makes up about 4.6% of Tribune Investment Group LP's holdings, making the stock its 5th largest position. Tribune Investment Group LP owned about 0.09% of Morningstar worth $10,795,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its holdings in Morningstar by 9.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,802 shares of the business services provider's stock worth $540,000 after acquiring an additional 159 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of Morningstar by 12.9% in the first quarter. Envestnet Asset Management Inc. now owns 106,294 shares of the business services provider's stock valued at $31,874,000 after buying an additional 12,159 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Morningstar by 4.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 305,014 shares of the business services provider's stock valued at $102,719,000 after buying an additional 13,155 shares during the period. Cetera Investment Advisers raised its stake in shares of Morningstar by 8.0% in the fourth quarter. Cetera Investment Advisers now owns 2,077 shares of the business services provider's stock valued at $699,000 after buying an additional 154 shares during the period. Finally, CWM LLC raised its stake in shares of Morningstar by 9.8% in the first quarter. CWM LLC now owns 1,249 shares of the business services provider's stock valued at $375,000 after buying an additional 111 shares during the period. 57.02% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Chairman Joseph D. Mansueto sold 7,250 shares of the business's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $263.99, for a total transaction of $1,913,927.50. Following the sale, the chairman directly owned 9,324,717 shares in the company, valued at approximately $2,461,632,040.83. The trade was a 0.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders sold 74,865 shares of company stock worth $19,623,447. Insiders own 36.20% of the company's stock.

Morningstar Stock Performance

Shares of NASDAQ:MORN traded up $5.15 during midday trading on Friday, reaching $263.82. 364,708 shares of the company traded hands, compared to its average volume of 357,649. 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, Inc. has a 12 month low of $250.34 and a 12 month high of $365.00. The firm has a market capitalization of $11.13 billion, a price-to-earnings ratio of 28.10 and a beta of 0.96. The firm's fifty day moving average price is $285.36 and its two-hundred day moving average price is $294.19.

Morningstar (NASDAQ:MORN - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The business services provider reported $2.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.21 by $0.19. Morningstar had a return on equity of 23.54% and a net margin of 17.22%.The company had revenue of $605.10 million for the quarter, compared to analyst estimates of $605.84 million.

Morningstar Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Friday, July 11th were paid a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Friday, July 11th. Morningstar's payout ratio is presently 19.38%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Wall Street Zen lowered Morningstar from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. BMO Capital Markets boosted their target price on Morningstar from $339.00 to $355.00 and gave the company an "outperform" rating in a research note on Monday, May 12th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $361.67.

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.