Van ECK Associates Corp Purchases 65 Shares of Morningstar, Inc. (NASDAQ:MORN)

Van ECK Associates Corp grew its position in shares of Morningstar, Inc. (NASDAQ:MORNGet Rating) by 9.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 728 shares of the business services provider’s stock after buying an additional 65 shares during the quarter. Van ECK Associates Corp’s holdings in Morningstar were worth $155,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Morningstar by 5.7% during the first quarter. Vanguard Group Inc. now owns 2,403,202 shares of the business services provider’s stock valued at $656,482,000 after acquiring an additional 129,956 shares during the last quarter. BlackRock Inc. raised its stake in shares of Morningstar by 1.6% during the first quarter. BlackRock Inc. now owns 1,069,710 shares of the business services provider’s stock valued at $292,213,000 after acquiring an additional 16,952 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Morningstar by 7.3% during the second quarter. JPMorgan Chase & Co. now owns 787,356 shares of the business services provider’s stock valued at $190,407,000 after acquiring an additional 53,747 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Morningstar by 11.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 485,276 shares of the business services provider’s stock valued at $117,354,000 after acquiring an additional 50,191 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in Morningstar by 1.1% in the first quarter. Renaissance Technologies LLC now owns 415,570 shares of the business services provider’s stock worth $113,521,000 after buying an additional 4,670 shares in the last quarter. 54.79% of the stock is owned by institutional investors.

Insider Buying and Selling at Morningstar

In other news, Chairman Joseph D. Mansueto sold 4,357 shares of the stock in a transaction that occurred on Tuesday, December 27th. The shares were sold at an average price of $212.95, for a total transaction of $927,823.15. Following the sale, the chairman now owns 11,685,804 shares in the company, valued at $2,488,491,961.80. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, Chairman Joseph D. Mansueto sold 14,500 shares of the stock in a transaction that occurred on Monday, December 19th. The shares were sold at an average price of $214.43, for a total transaction of $3,109,235.00. Following the sale, the chairman now owns 11,715,230 shares in the company, valued at $2,512,096,768.90. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Joseph D. Mansueto sold 4,357 shares of the stock in a transaction that occurred on Tuesday, December 27th. The shares were sold at an average price of $212.95, for a total transaction of $927,823.15. Following the sale, the chairman now owns 11,685,804 shares in the company, valued at approximately $2,488,491,961.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 100,839 shares of company stock valued at $23,279,611. Corporate insiders own 41.90% of the company’s stock.

Morningstar Price Performance

Shares of NASDAQ MORN opened at $240.27 on Thursday. Morningstar, Inc. has a fifty-two week low of $207.11 and a fifty-two week high of $298.51. The company has a 50 day simple moving average of $231.93 and a two-hundred day simple moving average of $232.63. The company has a market capitalization of $10.20 billion, a price-to-earnings ratio of 84.31 and a beta of 1.13. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98.

Morningstar (NASDAQ:MORNGet Rating) last announced its earnings results on Wednesday, October 26th. The business services provider reported $0.77 earnings per share for the quarter. Morningstar had a net margin of 6.66% and a return on equity of 15.90%. The business had revenue of $468.20 million during the quarter.

Morningstar Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 31st. Shareholders of record on Friday, January 6th will be paid a dividend of $0.375 per share. This is an increase from Morningstar’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Thursday, January 5th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.62%. Morningstar’s dividend payout ratio (DPR) is currently 52.63%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MORN. StockNews.com began coverage on shares of Morningstar in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Redburn Partners downgraded shares of Morningstar from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 11th.

About Morningstar

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Morningstar, Inc provides independent investment research services in North America, Europe, Australia, and Asia. The company offers web-based tools; investment data, fundamental equity and manager research, private capital markets research, credit and fund rating, and index, as well as environmental, social, and governance (ESG) rating services; and investment offerings, including managed investment products, publicly listed and private companies, fixed income securities, and real-time global market data for financial advisors, asset managers, retirement plan providers and sponsors, and individual and institutional investors.

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Institutional Ownership by Quarter for Morningstar (NASDAQ:MORN)

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