Pathstone Holdings LLC Trims Stock Position in Morningstar, Inc. (NASDAQ:MORN)

Pathstone Holdings LLC decreased its position in Morningstar, Inc. (NASDAQ:MORN) by 9.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,262 shares of the business services provider’s stock after selling 855 shares during the period. Pathstone Holdings LLC’s holdings in Morningstar were worth $2,636,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in MORN. Millennium Management LLC increased its stake in Morningstar by 154.0% during the second quarter. Millennium Management LLC now owns 320,186 shares of the business services provider’s stock worth $94,727,000 after acquiring an additional 194,122 shares during the last quarter. Boston Financial Mangement LLC acquired a new stake in shares of Morningstar during the 3rd quarter worth about $19,666,000. Assenagon Asset Management S.A. purchased a new stake in Morningstar in the 2nd quarter valued at about $9,366,000. Bank of Montreal Can lifted its position in Morningstar by 217.3% in the second quarter. Bank of Montreal Can now owns 42,189 shares of the business services provider’s stock valued at $12,632,000 after buying an additional 28,894 shares during the last quarter. Finally, Quest Partners LLC boosted its stake in Morningstar by 1,274,200.0% during the third quarter. Quest Partners LLC now owns 12,743 shares of the business services provider’s stock worth $4,067,000 after buying an additional 12,742 shares during the period. Institutional investors and hedge funds own 57.02% of the company’s stock.

Analysts Set New Price Targets

MORN has been the topic of several recent analyst reports. Redburn Atlantic lowered shares of Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 price objective on the stock. in a report on Wednesday, October 9th. UBS Group assumed coverage on Morningstar in a research report on Tuesday, October 8th. They set a “buy” rating and a $390.00 price target for the company. StockNews.com downgraded Morningstar from a “buy” rating to a “hold” rating in a report on Saturday. Finally, BMO Capital Markets restated an “outperform” rating and set a $352.00 target price on shares of Morningstar in a report on Wednesday, August 28th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Morningstar presently has an average rating of “Moderate Buy” and a consensus price target of $360.67.

Insider Buying and Selling

In other Morningstar news, Director William M. Lyons sold 750 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $331.88, for a total value of $248,910.00. Following the sale, the director now directly owns 12,840 shares in the company, valued at $4,261,339.20. This trade represents a 5.52 % 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. Also, Chairman Joseph D. Mansueto sold 6,110 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $312.18, for a total value of $1,907,419.80. Following the transaction, the chairman now directly owns 10,539,718 shares of the company’s stock, valued at approximately $3,290,289,165.24. This represents a 0.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,817 shares of company stock worth $18,453,128 over the last 90 days. 37.70% of the stock is owned by insiders.

Morningstar Stock Performance

NASDAQ:MORN opened at $352.76 on Tuesday. The company has a market cap of $15.13 billion, a price-to-earnings ratio of 46.60 and a beta of 1.18. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.55. Morningstar, Inc. has a 52 week low of $269.51 and a 52 week high of $352.94. The company has a fifty day simple moving average of $333.21 and a two-hundred day simple moving average of $313.55.

Morningstar (NASDAQ:MORN) last issued its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $2.00 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.01). The company had revenue of $569.40 million for the quarter. Morningstar had a return on equity of 23.28% and a net margin of 14.69%.

Morningstar Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were issued a $0.405 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $1.62 annualized dividend and a yield of 0.46%. Morningstar’s dividend payout ratio (DPR) is 21.40%.

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.