YHB Investment Advisors Inc. Lowers Position in Morningstar, Inc. (NASDAQ:MORN)

24 Oct 2024, 06:48 by Doug Wharley · The Cerbat Gem

YHB Investment Advisors Inc. reduced its holdings in Morningstar, Inc. (NASDAQ:MORN – Free Report) by 4.7% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,965 shares of the business services provider’s stock after selling 633 shares during the quarter. YHB Investment Advisors Inc.’s holdings in Morningstar were worth $4,137,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. V Square Quantitative Management LLC bought a new position in shares of Morningstar in the third quarter worth approximately $30,000. Blue Trust Inc. raised its position in Morningstar by 326.9% during the second quarter. Blue Trust Inc. now owns 111 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 85 shares in the last quarter. Crewe Advisors LLC bought a new stake in Morningstar during the second quarter worth about $35,000. DT Investment Partners LLC purchased a new position in shares of Morningstar in the 2nd quarter worth about $36,000. Finally, Acadian Asset Management LLC increased its position in shares of Morningstar by 73.8% during the 2nd quarter. Acadian Asset Management LLC now owns 146 shares of the business services provider’s stock valued at $43,000 after purchasing an additional 62 shares during the last quarter. Hedge funds and other institutional investors own 57.02% of the company’s stock.

Insider Buying and Selling

In other Morningstar news, Director William M. Lyons sold 750 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $316.48, for a total value of $237,360.00. Following the completion of the sale, the director now owns 13,590 shares in the company, valued at approximately $4,300,963.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Morningstar news, Director William M. Lyons sold 750 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $316.48, for a total value of $237,360.00. Following the completion of the transaction, the director now directly owns 13,590 shares in the company, valued at approximately $4,300,963.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Daniel Joseph Dunn sold 1,600 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $320.89, for a total transaction of $513,424.00. Following the completion of the sale, the executive now directly owns 12,967 shares of the company’s stock, valued at approximately $4,160,980.63. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 59,541 shares of company stock valued at $18,399,192 over the last ninety days. 39.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MORN. UBS Group began coverage on shares of Morningstar in a research report on Tuesday, October 8th. They set a “buy” rating and a $390.00 price target on the stock. Redburn Atlantic lowered shares of Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 target price on the stock. in a report on Wednesday, October 9th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $352.00 price target on shares of Morningstar in a research note on Wednesday, August 28th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $360.67.

Read Our Latest Stock Report on MORN

Morningstar Stock Performance

NASDAQ:MORN opened at $341.81 on Thursday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.05 and a current ratio of 1.05. Morningstar, Inc. has a fifty-two week low of $219.45 and a fifty-two week high of $349.07. The firm has a market cap of $14.61 billion, a PE ratio of 69.05 and a beta of 1.19. The business has a 50 day moving average price of $320.63 and a 200-day moving average price of $306.89.

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

Morningstar Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be issued a dividend of $0.405 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 0.47%. Morningstar’s dividend payout ratio is currently 32.73%.

About Morningstar

(Free Report)

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.