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

Cardinal Capital Management raised its holdings in shares of Morningstar, Inc. (NASDAQ:MORN) by 2.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,335 shares of the business services provider’s stock after acquiring an additional 275 shares during the quarter. Cardinal Capital Management’s holdings in Morningstar were worth $3,699,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in MORN. Vanguard Group Inc. boosted its stake in shares of Morningstar by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 2,803,611 shares of the business services provider’s stock worth $944,144,000 after purchasing an additional 51,598 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Morningstar by 13.7% during the 4th quarter. Wellington Management Group LLP now owns 1,080,599 shares of the business services provider’s stock worth $363,903,000 after purchasing an additional 130,087 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Morningstar by 12.9% during the 4th quarter. Geode Capital Management LLC now owns 561,431 shares of the business services provider’s stock worth $189,116,000 after purchasing an additional 64,020 shares during the last quarter. Norges Bank acquired a new stake in shares of Morningstar during the 4th quarter worth about $111,694,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Morningstar by 4.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 305,014 shares of the business services provider’s stock worth $102,719,000 after purchasing an additional 13,155 shares during the last quarter. 57.02% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Caroline J. Tsay sold 200 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $309.84, for a total value of $61,968.00. Following the transaction, the director now owns 4,345 shares in the company, valued at approximately $1,346,254.80. This trade represents a 4.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Joseph D. Mansueto sold 1,246 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $306.52, for a total transaction of $381,923.92. Following the completion of the transaction, the chairman now owns 9,427,836 shares in the company, valued at $2,889,820,290.72. The trade was a 0.01% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 53,569 shares of company stock valued at $16,333,474. Insiders own 36.20% of the company’s stock.

Morningstar Price Performance

MORN opened at $301.79 on Tuesday. The company’s 50 day simple moving average is $295.41 and its 200 day simple moving average is $311.63. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.14 and a current ratio of 1.14. Morningstar, Inc. has a 1 year low of $250.34 and a 1 year high of $365.00. The stock has a market capitalization of $12.75 billion, a PE ratio of 39.87 and a beta of 1.02.

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. BMO Capital Markets raised their price target on shares of Morningstar from $339.00 to $355.00 and gave the stock an “outperform” rating in a research note on Monday, May 12th. Wall Street Zen raised shares of Morningstar from a “hold” rating to a “buy” rating in a research note on Friday, May 2nd.

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.