Fox Run Management L.L.C. Lowers Position in Morningstar, Inc. $MORN

Key Points

• Fox Run Management L.L.C. reduced its stake in Morningstar, Inc. by 44.4%, holding 2,677 shares valued at $803,000 after selling 2,134 shares in the first quarter.
• Morningstar reported $2.40 earnings per share for the last quarter, surpassing analysts' expectations, with a revenue of $605.10 million.
• The company declared a quarterly dividend of $0.455, representing an annualized yield of 0.7%, with a payout ratio of 19.38%.

Fox Run Management L.L.C. cut its stake in shares of Morningstar, Inc. (NASDAQ:MORN - Free Report) by 44.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,677 shares of the business services provider's stock after selling 2,134 shares during the quarter. Fox Run Management L.L.C.'s holdings in Morningstar were worth $803,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new position in shares of Morningstar during the 4th quarter valued at about $16,497,000. Barclays PLC lifted its holdings in shares of Morningstar by 29.6% in the 4th quarter. Barclays PLC now owns 21,469 shares of the business services provider's stock worth $7,230,000 after acquiring an additional 4,906 shares during the last quarter. Mariner LLC lifted its stake in Morningstar by 10.7% in the fourth quarter. Mariner LLC now owns 1,705 shares of the business services provider's stock worth $574,000 after purchasing an additional 165 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its stake in shares of Morningstar by 1.4% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 22,989 shares of the business services provider's stock valued at $7,723,000 after buying an additional 315 shares during the last quarter. Finally, Forum Financial Management LP bought a new position in Morningstar in the fourth quarter worth about $223,000. Hedge funds and other institutional investors own 57.02% of the company's stock.

Morningstar Stock Performance

Morningstar stock traded up $1.83 during mid-day trading on Tuesday, reaching $260.37. 172,352 shares of the stock traded hands, compared to its average volume of 220,511. Morningstar, Inc. has a 12-month low of $250.34 and a 12-month high of $365.00. The business's 50-day moving average is $287.84 and its 200-day moving average is $295.53. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market capitalization of $10.98 billion, a PE ratio of 27.73 and a beta of 0.96.

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

Morningstar Announces Dividend

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

Insider Transactions at Morningstar

In other Morningstar news, Chairman Joseph D. Mansueto sold 7,250 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $258.08, for a total transaction of $1,871,080.00. Following the sale, the chairman directly owned 9,347,481 shares of the company's stock, valued at $2,412,397,896.48. This trade represents a 0.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders sold 67,897 shares of company stock valued at $18,175,199. Corporate insiders own 36.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MORN. Wall Street Zen downgraded shares of Morningstar from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. BMO Capital Markets lifted their price objective on Morningstar from $339.00 to $355.00 and gave the company an "outperform" rating in a research note on Monday, May 12th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Morningstar currently 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.