Ceera Investments LLC Decreases Stake in Morningstar, Inc. (NASDAQ:MORN)

Ceera Investments LLC cut its stake in shares of Morningstar, Inc. (NASDAQ:MORN) by 0.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,796 shares of the business services provider’s stock after selling 50 shares during the quarter. Morningstar comprises approximately 1.2% of Ceera Investments LLC’s investment portfolio, making the stock its 27th biggest holding. Ceera Investments LLC’s holdings in Morningstar were worth $2,898,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Scout Investments Inc. grew its stake in Morningstar by 75.8% during the 1st quarter. Scout Investments Inc. now owns 42,549 shares of the business services provider’s stock valued at $13,034,000 after purchasing an additional 18,345 shares during the last quarter. SG Americas Securities LLC boosted its position in Morningstar by 506.2% in the first quarter. SG Americas Securities LLC now owns 13,202 shares of the business services provider’s stock valued at $4,071,000 after buying an additional 11,024 shares during the last quarter. M&G Plc increased its holdings in Morningstar by 2.0% in the 2nd quarter. M&G Plc now owns 173,105 shares of the business services provider’s stock worth $51,239,000 after buying an additional 3,322 shares during the period. Wasatch Advisors LP raised its position in Morningstar by 1.0% during the 4th quarter. Wasatch Advisors LP now owns 533,935 shares of the business services provider’s stock worth $152,834,000 after buying an additional 5,240 shares during the last quarter. Finally, Confluence Investment Management LLC acquired a new stake in Morningstar during the 1st quarter valued at approximately $20,986,000. 57.02% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Morningstar

In other news, Director Caroline J. Tsay sold 290 shares of Morningstar stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $296.98, for a total value of $86,124.20. Following the sale, the director now owns 3,925 shares in the company, valued at $1,165,646.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Morningstar news, Chairman Joseph D. Mansueto sold 721 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $312.94, for a total value of $225,629.74. Following the transaction, the chairman now owns 10,532,253 shares in the company, valued at approximately $3,295,963,253.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Caroline J. Tsay sold 290 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $296.98, for a total transaction of $86,124.20. Following the sale, the director now directly owns 3,925 shares of the company’s stock, valued at approximately $1,165,646.50. The disclosure for this sale can be found here. Insiders sold a total of 55,175 shares of company stock worth $17,024,254 in the last 90 days. Corporate insiders own 39.90% of the company’s stock.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets reiterated an “outperform” rating and issued a $352.00 price objective on shares of Morningstar in a research note on Wednesday, August 28th.

Morningstar Stock Performance

Morningstar stock traded down $7.20 during midday trading on Friday, hitting $304.72. 49,755 shares of the company were exchanged, compared to its average volume of 113,761. The business has a fifty day simple moving average of $309.14 and a two-hundred day simple moving average of $301.56. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market capitalization of $13.03 billion, a PE ratio of 61.56 and a beta of 1.18. Morningstar, Inc. has a fifty-two week low of $219.45 and a fifty-two week high of $330.22.

Morningstar (NASDAQ:MORN) last posted its earnings results on Wednesday, July 24th. The business services provider reported $2.01 earnings per share for the quarter. The firm had revenue of $571.90 million during the quarter. Morningstar had a net margin of 11.34% and a return on equity of 22.34%.

Morningstar Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, July 12th were given a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date was Friday, July 12th. Morningstar’s dividend payout ratio (DPR) is presently 32.73%.

Morningstar 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.