Russell Investments Group Ltd. Boosts Position in Morningstar, Inc. $MORN

Key Points

• Russell Investments Group Ltd. increased its holdings in Morningstar, Inc. by 21.2% during the first quarter, reaching $5,670,000 in value.
• Morningstar's recent quarterly earnings report showed $2.40 EPS, exceeding analysts' expectations, and a revenue of $605.10 million.
• The company announced a quarterly dividend of $0.455 per share, translating to an annualized yield of 0.7%.

Russell Investments Group Ltd. lifted its holdings in shares of Morningstar, Inc. (NASDAQ:MORN - Free Report) by 21.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,908 shares of the business services provider's stock after purchasing an additional 3,302 shares during the quarter. Russell Investments Group Ltd.'s holdings in Morningstar were worth $5,670,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its position in shares of Morningstar by 9.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,802 shares of the business services provider's stock worth $540,000 after purchasing an additional 159 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Morningstar by 12.9% in the first quarter. Envestnet Asset Management Inc. now owns 106,294 shares of the business services provider's stock worth $31,874,000 after purchasing an additional 12,159 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Morningstar by 4.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 305,014 shares of the business services provider's stock worth $102,719,000 after purchasing an additional 13,155 shares during the last quarter. Cetera Investment Advisers increased its position in shares of Morningstar by 8.0% in the fourth quarter. Cetera Investment Advisers now owns 2,077 shares of the business services provider's stock worth $699,000 after purchasing an additional 154 shares during the last quarter. Finally, CWM LLC increased its position in shares of Morningstar by 9.8% in the first quarter. CWM LLC now owns 1,249 shares of the business services provider's stock worth $375,000 after purchasing an additional 111 shares during the last quarter. 57.02% of the stock is currently owned by institutional investors.

Morningstar Price Performance

Shares of Morningstar stock opened at $262.29 on Thursday. The business has a 50 day moving average of $287.00 and a 200 day moving average of $295.30. 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 company has a market cap of $11.06 billion, a PE ratio of 27.93 and a beta of 0.96. Morningstar, Inc. has a 52 week low of $250.34 and a 52 week high of $365.00.

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

Morningstar Dividend Announcement

The company 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. The ex-dividend date was Friday, July 11th. This represents a $1.82 dividend on an annualized basis and a yield of 0.7%. Morningstar's dividend payout ratio is 19.38%.

Analyst Ratings Changes

Several research firms recently weighed in on MORN. Wall Street Zen cut shares of Morningstar from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. BMO Capital Markets increased 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 company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $361.67.

Insider Transactions at Morningstar

In other Morningstar news, Chairman Joseph D. Mansueto sold 7,250 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $258.65, for a total value of $1,875,212.50. Following the completion of the transaction, the chairman owned 9,354,731 shares in the company, valued at approximately $2,419,601,173.15. This represents a 0.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 60,647 shares of company stock valued at $15,953,582 in the last ninety days. 36.20% of the stock is currently owned by corporate 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.

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