Voleon Capital Management LP Takes $7.38 Million Position in Morningstar, Inc. (NASDAQ:MORN)

Voleon Capital Management LP acquired a new position in Morningstar, Inc. (NASDAQ:MORN - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 21,915 shares of the business services provider's stock, valued at approximately $7,380,000. Voleon Capital Management LP owned about 0.05% of Morningstar as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Schonfeld Strategic Advisors LLC boosted its holdings in Morningstar by 212.3% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 7,390 shares of the business services provider's stock valued at $2,489,000 after acquiring an additional 5,024 shares during the period. AQR Capital Management LLC grew its holdings in shares of Morningstar by 70.2% in the fourth quarter. AQR Capital Management LLC now owns 13,100 shares of the business services provider's stock valued at $4,412,000 after purchasing an additional 5,403 shares in the last quarter. Northern Trust Corp increased its stake in Morningstar by 18.6% during the 4th quarter. Northern Trust Corp now owns 230,149 shares of the business services provider's stock worth $77,505,000 after buying an additional 36,133 shares during the period. Quarry LP lifted its holdings in Morningstar by 942.3% during the 4th quarter. Quarry LP now owns 542 shares of the business services provider's stock worth $183,000 after buying an additional 490 shares in the last quarter. Finally, Johnson Financial Group Inc. purchased a new position in Morningstar in the 4th quarter valued at approximately $71,000. Hedge funds and other institutional investors own 57.02% of the company's stock.

Morningstar Stock Up 3.5 %

Shares of NASDAQ:MORN traded up $10.03 during trading hours on Friday, reaching $293.19. The stock had a trading volume of 219,947 shares, compared to its average volume of 136,900. Morningstar, Inc. has a 1 year low of $250.34 and a 1 year high of $365.00. The firm's 50 day moving average is $287.40 and its 200-day moving average is $319.72. The stock has a market capitalization of $12.56 billion, a price-to-earnings ratio of 38.73 and a beta of 1.16. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.14 and a current ratio of 1.14.

Morningstar (NASDAQ:MORN - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The business services provider reported $2.23 earnings per share for the quarter, beating 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 23.28% and a net margin of 14.69%.

Morningstar Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Friday, April 4th were paid a dividend of $0.455 per share. This is a boost from Morningstar's previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Friday, April 4th. This represents a $1.82 annualized dividend and a yield of 0.62%. Morningstar's payout ratio is presently 21.24%.

Insider Activity at Morningstar

In related news, Chairman Joseph D. Mansueto sold 1,716 shares of Morningstar stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $327.89, for a total transaction of $562,659.24. Following the sale, the chairman now directly owns 10,151,120 shares in the company, valued at $3,328,450,736.80. This trade represents a 0.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 59,544 shares of company stock valued at $18,770,097 over the last three months. 36.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

MORN has been the topic of a number of recent research reports. StockNews.com raised Morningstar from a "hold" rating to a "buy" rating in a research report on Friday. BMO Capital Markets reduced their price target on Morningstar from $387.00 to $370.00 and set an "outperform" rating on the stock in a research report on Monday, March 3rd.

About Morningstar

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.