Massachusetts Financial Services Co. MA Has $104.69 Million Stock Position in Morningstar, Inc. $MORN

Massachusetts Financial Services Co. MA lowered its position in Morningstar, Inc. (NASDAQ:MORN) by 29.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 451,242 shares of the business services provider’s stock after selling 188,890 shares during the quarter. Massachusetts Financial Services Co. MA owned 1.07% of Morningstar worth $104,693,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of MORN. Geode Capital Management LLC raised its stake in shares of Morningstar by 1.9% in the second quarter. Geode Capital Management LLC now owns 626,941 shares of the business services provider’s stock valued at $196,839,000 after purchasing an additional 11,408 shares in the last quarter. Liontrust Investment Partners LLP increased its holdings in Morningstar by 21.3% in the 2nd quarter. Liontrust Investment Partners LLP now owns 391,816 shares of the business services provider’s stock valued at $123,003,000 after buying an additional 68,896 shares during the period. Norges Bank acquired a new position in shares of Morningstar in the 2nd quarter valued at $93,224,000. AQR Capital Management LLC raised its stake in shares of Morningstar by 691.0% in the 2nd quarter. AQR Capital Management LLC now owns 293,969 shares of the business services provider’s stock valued at $92,286,000 after buying an additional 256,806 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Morningstar by 266.5% during the 2nd quarter. Invesco Ltd. now owns 280,923 shares of the business services provider’s stock worth $88,190,000 after acquiring an additional 204,277 shares during the period. Institutional investors and hedge funds own 57.02% of the company’s stock.

Morningstar Price Performance

Shares of Morningstar stock opened at $206.94 on Wednesday. The stock has a market capitalization of $8.51 billion, a price-to-earnings ratio of 23.54 and a beta of 1.08. The firm’s 50-day moving average price is $214.57 and its two-hundred day moving average price is $237.23. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.56. Morningstar, Inc. has a 1-year low of $202.89 and a 1-year high of $335.21.

Morningstar (NASDAQ:MORN) last posted its earnings results on Wednesday, October 29th. The business services provider reported $2.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.42 by $0.13. The company had revenue of $617.40 million during the quarter, compared to analysts’ expectations of $603.29 million. Morningstar had a net margin of 15.70% and a return on equity of 25.07%.

Morningstar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 2nd will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $2.00 dividend on an annualized basis and a yield of 1.0%. Morningstar’s payout ratio is currently 22.75%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on MORN shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Morningstar in a research note on Monday, December 29th. BMO Capital Markets set a $250.00 price objective on Morningstar in a report on Thursday, October 30th. Wall Street Zen upgraded Morningstar from a “hold” rating to a “buy” rating in a research note on Friday, November 28th. Finally, UBS Group cut their target price on Morningstar from $350.00 to $320.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $285.00.

Insider Buying and Selling at Morningstar

In other Morningstar news, Director Caroline J. Tsay sold 600 shares of the stock in a transaction dated Monday, December 29th. The shares were sold at an average price of $218.48, for a total transaction of $131,088.00. Following the sale, the director owned 3,745 shares of the company’s stock, valued at $818,207.60. This represents a 13.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Joseph D. Mansueto sold 1,286 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $213.12, for a total transaction of $274,072.32. Following the completion of the sale, the chairman owned 8,600,815 shares of the company’s stock, valued at $1,833,005,692.80. The trade was a 0.01% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 64,350 shares of company stock worth $13,668,311 in the last 90 days. Company insiders own 36.20% of the company’s stock.

Morningstar Profile

Morningstar, Inc is a leading provider of independent investment research, data, and analytics, serving both individual investors and financial professionals. The company offers comprehensive coverage of financial products, including mutual funds, exchange-traded funds (ETFs), stocks, bonds and market indexes. Morningstar’s proprietary rating systems and research methodologies help clients assess the risk and return profiles of investment opportunities and make informed decisions.

Its core products include Morningstar Direct, an institutional investment analysis platform; Morningstar Office Cloud, a portfolio management solution for advisors; and Morningstar Data, which delivers extensive datasets through APIs and data feeds.