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Envestnet Asset Management Inc. Boosts Stock Holdings in Morningstar, Inc. (NASDAQ:MORN)

Morningstar logo with Business Services background

Envestnet Asset Management Inc. grew its position in shares of Morningstar, Inc. (NASDAQ:MORN - Free Report) by 12.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 106,294 shares of the business services provider's stock after acquiring an additional 12,159 shares during the quarter. Envestnet Asset Management Inc. owned about 0.25% of Morningstar worth $31,874,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of MORN. Deutsche Bank AG lifted its position in Morningstar by 2.4% in the 4th quarter. Deutsche Bank AG now owns 1,798 shares of the business services provider's stock valued at $605,000 after acquiring an additional 42 shares in the last quarter. UMB Bank n.a. raised its stake in shares of Morningstar by 10.5% in the first quarter. UMB Bank n.a. now owns 516 shares of the business services provider's stock worth $155,000 after purchasing an additional 49 shares during the last quarter. Covestor Ltd raised its stake in shares of Morningstar by 14.6% in the fourth quarter. Covestor Ltd now owns 416 shares of the business services provider's stock worth $140,000 after purchasing an additional 53 shares during the last quarter. Smith Group Asset Management LLC lifted its holdings in shares of Morningstar by 4.3% in the first quarter. Smith Group Asset Management LLC now owns 1,450 shares of the business services provider's stock valued at $435,000 after purchasing an additional 60 shares in the last quarter. Finally, Kensington Investment Counsel LLC boosted its position in shares of Morningstar by 0.6% during the fourth quarter. Kensington Investment Counsel LLC now owns 10,682 shares of the business services provider's stock valued at $3,597,000 after buying an additional 67 shares during the last quarter. 57.02% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Morningstar news, Chairman Joseph D. Mansueto sold 1,246 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $306.52, for a total value of $381,923.92. Following the completion of the sale, the chairman directly owned 9,427,836 shares of the company's stock, valued at $2,889,820,290.72. This trade represents a 0.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Caroline J. Tsay sold 200 shares of the business's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $309.84, for a total value of $61,968.00. Following the completion of the sale, the director owned 4,345 shares in the company, valued at approximately $1,346,254.80. The trade was a 4.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 53,569 shares of company stock worth $16,333,474. Insiders own 36.20% of the company's stock.

Analyst Upgrades and Downgrades

MORN has been the subject of a number of analyst reports. Wall Street Zen cut Morningstar from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. BMO Capital Markets increased their target price on shares of Morningstar from $339.00 to $355.00 and gave the company an "outperform" rating in a report on Monday, May 12th.

Read Our Latest Stock Analysis on Morningstar

Morningstar Stock Performance

Morningstar stock traded up $1.32 during mid-day trading on Thursday, reaching $291.06. 174,277 shares of the company's stock were exchanged, compared to its average volume of 164,775. The business's fifty day simple moving average is $305.48 and its 200 day simple moving average is $305.27. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.50. Morningstar, Inc. has a one year low of $250.34 and a one year high of $365.00. The firm has a market capitalization of $12.30 billion, a PE ratio of 32.70 and a beta of 1.01.

Morningstar (NASDAQ:MORN - Get Free Report) last released its earnings results on Wednesday, April 30th. The business services provider reported $2.23 EPS for the quarter, topping analysts' consensus estimates of $2.10 by $0.13. The company had revenue of $581.90 million for the quarter, compared to analysts' expectations of $589.07 million. Morningstar had a return on equity of 23.23% and a net margin of 16.60%.

Morningstar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Friday, July 11th will be given a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 0.63%. The ex-dividend date is Friday, July 11th. Morningstar's dividend payout ratio is 20.45%.

About Morningstar

(Free Report)

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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Institutional Ownership by Quarter for Morningstar (NASDAQ:MORN)

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