Cardinal Capital Management Boosts Position in Morningstar, Inc. (NASDAQ:MORN)

Cardinal Capital Management boosted its holdings in Morningstar, Inc. (NASDAQ:MORN) by 2.3% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 12,335 shares of the business services provider’s stock after buying an additional 275 shares during the period. Cardinal Capital Management’s holdings in Morningstar were worth $3,699,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the company. Deutsche Bank AG lifted its position in shares of Morningstar by 2.4% during the fourth quarter. Deutsche Bank AG now owns 1,798 shares of the business services provider’s stock worth $605,000 after purchasing an additional 42 shares in the last quarter. V Square Quantitative Management LLC lifted its position in shares of Morningstar by 49.5% during the fourth quarter. V Square Quantitative Management LLC now owns 139 shares of the business services provider’s stock worth $47,000 after purchasing an additional 46 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Morningstar by 10.5% during the first quarter. UMB Bank n.a. now owns 516 shares of the business services provider’s stock worth $155,000 after purchasing an additional 49 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Morningstar by 178.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 78 shares of the business services provider’s stock worth $26,000 after purchasing an additional 50 shares in the last quarter. Finally, Covestor Ltd lifted its position in shares of Morningstar by 14.6% during the fourth quarter. Covestor Ltd now owns 416 shares of the business services provider’s stock worth $140,000 after purchasing an additional 53 shares in the last quarter. 57.02% of the stock is owned by institutional investors and hedge funds.

Morningstar Stock Up 0.9%

Shares of NASDAQ:MORN opened at $301.79 on Tuesday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.55. The company has a fifty day simple moving average of $295.41 and a 200 day simple moving average of $311.63. The firm has a market cap of $12.75 billion, a PE ratio of 39.87 and a beta of 1.02. Morningstar, Inc. has a 12-month low of $250.34 and a 12-month high of $365.00.

Morningstar (NASDAQ:MORN) last issued its quarterly earnings results on Wednesday, April 30th. The business services provider reported $2.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.10 by $0.13. The business had revenue of $581.90 million during the quarter, compared to analyst estimates of $589.07 million. Morningstar had a net margin of 14.69% and a return on equity of 23.28%.

Insider Buying and Selling

In other Morningstar news, Chairman Joseph D. Mansueto sold 7,250 shares of the business’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $297.25, for a total transaction of $2,155,062.50. Following the completion of the sale, the chairman now owns 9,495,705 shares in the company, valued at $2,822,598,311.25. The trade was a 0.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Caroline J. Tsay sold 200 shares of the business’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $309.84, for a total transaction of $61,968.00. Following the sale, the director now owns 4,345 shares of the company’s stock, valued at approximately $1,346,254.80. The trade was a 4.40% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 53,569 shares of company stock worth $16,333,474. Insiders own 36.20% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on MORN. Wall Street Zen raised shares of Morningstar from a “hold” rating to a “buy” rating in a research report on Friday, May 2nd. BMO Capital Markets boosted their target price on shares of Morningstar from $339.00 to $355.00 and gave the stock an “outperform” rating in a research report on Monday, May 12th.

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.