Congress Asset Management Co. Buys 7,173 Shares of Morningstar, Inc. (NASDAQ:MORN)

Congress Asset Management Co. lifted its holdings in Morningstar, Inc. (NASDAQ:MORN - Free Report) by 14.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,216 shares of the business services provider's stock after purchasing an additional 7,173 shares during the period. Congress Asset Management Co. owned about 0.13% of Morningstar worth $16,858,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Smartleaf Asset Management LLC grew its position in Morningstar by 178.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 78 shares of the business services provider's stock worth $26,000 after buying an additional 50 shares during the last quarter. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of Morningstar during the 4th quarter worth $28,000. V Square Quantitative Management LLC grew its holdings in shares of Morningstar by 49.5% in the 4th quarter. V Square Quantitative Management LLC now owns 139 shares of the business services provider's stock worth $47,000 after acquiring an additional 46 shares during the last quarter. Johnson Financial Group Inc. acquired a new stake in shares of Morningstar during the fourth quarter worth $71,000. Finally, Whittier Trust Co. lifted its holdings in shares of Morningstar by 64.2% during the fourth quarter. Whittier Trust Co. now owns 271 shares of the business services provider's stock valued at $91,000 after purchasing an additional 106 shares during the last quarter. 57.02% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Morningstar

In related news, Chairman Joseph D. Mansueto sold 7,250 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $295.15, for a total value of $2,139,837.50. Following the completion of the sale, the chairman now owns 9,506,166 shares of the company's stock, valued at approximately $2,805,744,894.90. The trade was a 0.08% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Caroline J. Tsay sold 200 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $309.84, for a total transaction of $61,968.00. Following the transaction, the director now directly owns 4,345 shares in the company, valued at approximately $1,346,254.80. The trade was a 4.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 53,571 shares of company stock worth $16,334,049 over the last 90 days. 36.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on MORN shares. Wall Street Zen raised Morningstar from a "hold" rating to a "buy" rating in a research note on Friday, May 2nd. BMO Capital Markets upped their price target on shares of Morningstar from $339.00 to $355.00 and gave the company an "outperform" rating in a research report on Monday, May 12th.

Morningstar Stock Up 0.0%

NASDAQ MORN traded up $0.04 during trading on Wednesday, reaching $303.23. 104,131 shares of the company's stock were exchanged, compared to its average volume of 145,785. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.55. Morningstar, Inc. has a fifty-two week low of $250.34 and a fifty-two week high of $365.00. The company's fifty day simple moving average is $291.94 and its 200-day simple moving average is $313.37. The firm has a market capitalization of $12.81 billion, a PE ratio of 40.04 and a beta of 1.02.

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

Morningstar Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Friday, April 4th were given a dividend of $0.455 per share. This is a boost from Morningstar's previous quarterly dividend of $0.41. The ex-dividend date was Friday, April 4th. This represents a $1.82 dividend on an annualized basis and a yield of 0.60%. Morningstar's dividend payout ratio (DPR) is presently 20.45%.

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.