Pacer Advisors Inc. Trims Holdings in Morningstar, Inc. (NASDAQ:MORN)

Key Points

• Pacer Advisors Inc. reduced its holdings in Morningstar, Inc. by 74.6% in the first quarter, now owning only 1,260 shares worth approximately $378,000.
• A number of analysts have recently adjusted their ratings and price targets for Morningstar, with BMO Capital Markets increasing its target from $339.00 to $355.00 and downgrading it from "buy" to "hold."
• Morningstar reported a quarterly earnings of $2.40 per share, surpassing analysts' expectations of $2.21, with revenue of $605.10 million, slightly below the expected $605.84 million.

Pacer Advisors Inc. lessened its holdings in Morningstar, Inc. (NASDAQ:MORN - Free Report) by 74.6% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,260 shares of the business services provider's stock after selling 3,691 shares during the quarter. Pacer Advisors Inc.'s holdings in Morningstar were worth $378,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of MORN. Commonwealth Equity Services LLC grew its position in shares of Morningstar by 27.5% during the 4th quarter. Commonwealth Equity Services LLC now owns 1,821 shares of the business services provider's stock worth $613,000 after buying an additional 393 shares in the last quarter. American Century Companies Inc. grew its position in shares of Morningstar by 22.4% during the 4th quarter. American Century Companies Inc. now owns 8,111 shares of the business services provider's stock worth $2,731,000 after buying an additional 1,482 shares in the last quarter. LPL Financial LLC grew its position in shares of Morningstar by 13.6% during the 4th quarter. LPL Financial LLC now owns 5,092 shares of the business services provider's stock worth $1,715,000 after buying an additional 610 shares in the last quarter. Pictet Asset Management Holding SA grew its position in shares of Morningstar by 4.9% during the 4th quarter. Pictet Asset Management Holding SA now owns 3,860 shares of the business services provider's stock worth $1,300,000 after buying an additional 181 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC grew its position in shares of Morningstar by 3.5% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 3,031 shares of the business services provider's stock worth $1,021,000 after buying an additional 102 shares in the last quarter. Institutional investors own 57.02% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. BMO Capital Markets increased their price target on Morningstar from $339.00 to $355.00 and gave the stock an "outperform" rating in a research report on Monday, May 12th. Wall Street Zen cut Morningstar from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th.

Insider Activity at Morningstar

In other news, Chairman Joseph D. Mansueto sold 1,246 shares of the firm's stock in a transaction that occurred 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 transaction, the chairman owned 9,427,836 shares in the company, 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 legal filing with the SEC, which is available 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 value of $61,968.00. Following the completion of the transaction, the director owned 4,345 shares in the company, valued at approximately $1,346,254.80. This trade represents a 4.40% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 39,069 shares of company stock worth $12,038,574. 36.20% of the stock is owned by corporate insiders.

Morningstar Stock Down 1.1%

Morningstar stock traded down $2.81 during midday trading on Wednesday, reaching $259.26. The company's stock had a trading volume of 189,011 shares, compared to its average volume of 217,298. The stock's 50-day simple moving average is $297.57 and its 200-day simple moving average is $300.42. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.13 and a quick ratio of 1.13. Morningstar, Inc. has a 52-week low of $250.34 and a 52-week high of $365.00. The stock has a market capitalization of $10.94 billion, a P/E ratio of 27.59 and a beta of 0.96.

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

Morningstar Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Friday, July 11th were issued 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 (DPR) is presently 19.38%.

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.