Segall Bryant & Hamill LLC Has $6.86 Million Position in Morningstar, Inc. $MORN

Segall Bryant & Hamill LLC reduced its stake in shares of Morningstar, Inc. (NASDAQ:MORN) by 27.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 29,570 shares of the business services provider’s stock after selling 11,222 shares during the period. Segall Bryant & Hamill LLC’s holdings in Morningstar were worth $6,861,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Creative Planning increased its position in Morningstar by 75.3% in the 2nd quarter. Creative Planning now owns 4,506 shares of the business services provider’s stock worth $1,415,000 after purchasing an additional 1,936 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Morningstar by 32.0% in the 3rd quarter. Principal Financial Group Inc. now owns 91,155 shares of the business services provider’s stock valued at $21,149,000 after buying an additional 22,109 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Morningstar by 17.7% in the second quarter. JPMorgan Chase & Co. now owns 236,324 shares of the business services provider’s stock worth $74,191,000 after buying an additional 35,561 shares during the last quarter. Chicago Capital LLC raised its position in Morningstar by 24.2% during the third quarter. Chicago Capital LLC now owns 70,042 shares of the business services provider’s stock valued at $16,251,000 after acquiring an additional 13,627 shares in the last quarter. Finally, Nordea Investment Management AB lifted its stake in Morningstar by 46.4% in the third quarter. Nordea Investment Management AB now owns 88,108 shares of the business services provider’s stock valued at $20,392,000 after acquiring an additional 27,927 shares during the last quarter. 57.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on MORN. Weiss Ratings upgraded shares of Morningstar from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, February 26th. Wall Street Zen upgraded shares of Morningstar from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. BMO Capital Markets cut their target price on Morningstar from $257.00 to $193.00 and set an “outperform” rating on the stock in a report on Tuesday, February 17th. Finally, UBS Group set a $280.00 price target on Morningstar in a research report on Friday, February 13th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Morningstar currently has an average rating of “Moderate Buy” and a consensus price target of $236.50.

Morningstar Stock Performance

Shares of MORN opened at $186.88 on Thursday. The company has a market capitalization of $7.40 billion, a PE ratio of 20.97 and a beta of 1.10. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.99 and a quick ratio of 0.99. Morningstar, Inc. has a one year low of $149.08 and a one year high of $316.71. The company’s fifty day moving average price is $193.08 and its 200 day moving average price is $216.03.

Morningstar (NASDAQ:MORN) last released its quarterly earnings results on Thursday, February 12th. The business services provider reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.34 by $0.37. The company had revenue of $641.10 million during the quarter, compared to analysts’ expectations of $634.43 million. Morningstar had a net margin of 15.30% and a return on equity of 27.94%.

Morningstar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 2nd will be issued a dividend of $0.50 per share. The ex-dividend date is Friday, October 2nd. This represents a $2.00 annualized dividend and a dividend yield of 1.1%. Morningstar’s payout ratio is presently 22.45%.

Insider Activity at Morningstar

In related news, Chairman Joseph D. Mansueto sold 7,304 shares of Morningstar stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $160.63, for a total transaction of $1,173,241.52. Following the sale, the chairman directly owned 8,184,212 shares of the company’s stock, valued at $1,314,629,973.56. This trade represents a 0.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 85,243 shares of company stock worth $14,219,154 over the last three months. 36.20% of the stock is currently owned by corporate insiders.

Morningstar Company 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.