JPMorgan Chase & Co. Has $73.89 Million Stake in Morningstar, Inc. $MORN

JPMorgan Chase & Co. raised its stake in Morningstar, Inc. (NASDAQ:MORN) by 34.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 318,478 shares of the business services provider’s stock after purchasing an additional 82,154 shares during the quarter. JPMorgan Chase & Co. owned 0.77% of Morningstar worth $73,891,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Morningstar by 23.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 178 shares of the business services provider’s stock worth $53,000 after buying an additional 34 shares in the last quarter. Cardinal Capital Management boosted its holdings in Morningstar by 0.3% during the 3rd quarter. Cardinal Capital Management now owns 13,902 shares of the business services provider’s stock worth $3,225,000 after acquiring an additional 48 shares during the last quarter. Claret Asset Management Corp grew its stake in shares of Morningstar by 7.4% in the 2nd quarter. Claret Asset Management Corp now owns 744 shares of the business services provider’s stock worth $233,000 after acquiring an additional 51 shares in the last quarter. Ballentine Partners LLC raised its holdings in shares of Morningstar by 3.5% in the third quarter. Ballentine Partners LLC now owns 1,932 shares of the business services provider’s stock valued at $448,000 after purchasing an additional 66 shares during the last quarter. Finally, Simon Quick Advisors LLC lifted its position in shares of Morningstar by 2.7% during the third quarter. Simon Quick Advisors LLC now owns 2,579 shares of the business services provider’s stock valued at $598,000 after purchasing an additional 67 shares in the last quarter. Institutional investors own 57.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MORN. Wall Street Zen raised shares of Morningstar from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. Weiss Ratings downgraded Morningstar from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, February 12th. UBS Group set a $280.00 target price on Morningstar in a report on Friday, February 13th. Finally, BMO Capital Markets dropped their price target on Morningstar from $257.00 to $193.00 and set an “outperform” rating on the stock in a report on Tuesday, February 17th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $236.50.

Morningstar Trading Up 3.8%

NASDAQ:MORN opened at $162.94 on Wednesday. Morningstar, Inc. has a 12 month low of $149.08 and a 12 month high of $325.62. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.88. The firm’s 50 day moving average is $197.11 and its 200 day moving average is $218.99. The stock has a market capitalization of $6.45 billion, a PE ratio of 18.29 and a beta of 1.08.

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

Morningstar Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 2nd will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $2.00 annualized dividend and a yield of 1.2%. Morningstar’s dividend payout ratio (DPR) is 22.45%.

Insider Transactions at Morningstar

In other Morningstar news, Chairman Joseph D. Mansueto sold 6,608 shares of the company’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $161.34, for a total transaction of $1,066,134.72. Following the sale, the chairman directly owned 8,170,354 shares of the company’s stock, valued at $1,318,204,914.36. This represents 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 through this link. In the last quarter, insiders sold 67,621 shares of company stock valued at $11,203,293. Insiders own 36.20% of the company’s stock.

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.