Nuveen LLC Takes Position in Morningstar, Inc. $MORN

Key Points

• Nuveen LLC acquired 127,617 shares of Morningstar, Inc. valued at approximately $38.27 million, representing around 0.30% of the company.
• Morningstar's stock has been receiving mixed reviews from analysts, with BMO Capital Markets raising its price target to $355.00 while Wall Street Zen downgraded it from "buy" to "hold."
• Recent insider transactions include Chairman Joseph D. Mansueto selling nearly 4,000 shares, which decreased his ownership stake slightly, while corporate insiders collectively own 36.20% of the company's stock.

Nuveen LLC purchased a new stake in shares of Morningstar, Inc. (NASDAQ:MORN - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 127,617 shares of the business services provider's stock, valued at approximately $38,269,000. Nuveen LLC owned 0.30% of Morningstar at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Balyasny Asset Management L.P. bought a new position in Morningstar during the 4th quarter valued at approximately $56,584,000. GAMMA Investing LLC grew its stake in shares of Morningstar by 30,785.9% in the first quarter. GAMMA Investing LLC now owns 144,237 shares of the business services provider's stock worth $43,252,000 after acquiring an additional 143,770 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Morningstar during the fourth quarter valued at $16,497,000. Two Sigma Investments LP purchased a new position in shares of Morningstar in the 4th quarter worth about $12,203,000. Finally, Northern Trust Corp raised its position in shares of Morningstar by 18.6% in the 4th quarter. Northern Trust Corp now owns 230,149 shares of the business services provider's stock worth $77,505,000 after purchasing an additional 36,133 shares during the last quarter. Hedge funds and other institutional investors own 57.02% of the company's stock.

Wall Street Analysts Forecast Growth

MORN has been the subject of a number of analyst reports. BMO Capital Markets raised their price objective on shares of Morningstar from $339.00 to $355.00 and gave the company an "outperform" rating in a research note on Monday, May 12th. Wall Street Zen cut shares of Morningstar from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $361.67.

Morningstar Stock Performance

Shares of MORN stock traded up $0.3650 on Wednesday, reaching $260.7350. The stock had a trading volume of 181,611 shares, compared to its average volume of 220,219. Morningstar, Inc. has a 12 month low of $250.34 and a 12 month high of $365.00. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $11.00 billion, a price-to-earnings ratio of 27.77 and a beta of 0.96. The firm's 50-day moving average is $287.84 and its two-hundred day moving average is $295.53.

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. Morningstar had a return on equity of 23.54% and a net margin of 17.22%.The business had revenue of $605.10 million during the quarter, compared to analysts' expectations of $605.84 million.

Morningstar Announces Dividend

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

Insiders Place Their Bets

In related news, Chairman Joseph D. Mansueto sold 7,250 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $306.43, for a total value of $2,221,617.50. Following the transaction, the chairman owned 9,430,378 shares in the company, valued at $2,889,750,730.54. The trade was a 0.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 67,897 shares of company stock worth $18,175,199 over the last ninety days. 36.20% of the stock is owned by company insiders.

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.