Ensign Peak Advisors Inc Sells 5,283 Shares of Morningstar, Inc. (NASDAQ:MORN)

Ensign Peak Advisors Inc cut its stake in shares of Morningstar, Inc. (NASDAQ:MORN - Free Report) by 28.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,972 shares of the business services provider's stock after selling 5,283 shares during the quarter. Ensign Peak Advisors Inc's holdings in Morningstar were worth $4,368,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Deutsche Bank AG grew its holdings in Morningstar by 2.4% in the fourth quarter. Deutsche Bank AG now owns 1,798 shares of the business services provider's stock valued at $605,000 after purchasing an additional 42 shares during the last quarter. V Square Quantitative Management LLC lifted its position in Morningstar by 49.5% during the fourth quarter. V Square Quantitative Management LLC now owns 139 shares of the business services provider's stock worth $47,000 after buying an additional 46 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of Morningstar by 178.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 78 shares of the business services provider's stock worth $26,000 after acquiring an additional 50 shares during the last quarter. Covestor Ltd boosted its holdings in shares of Morningstar by 14.6% in the 4th quarter. Covestor Ltd now owns 416 shares of the business services provider's stock valued at $140,000 after purchasing an additional 53 shares during the last quarter. Finally, UMB Bank n.a. grew its position in Morningstar by 13.1% during the fourth quarter. UMB Bank n.a. now owns 467 shares of the business services provider's stock valued at $157,000 after acquiring an additional 54 shares during the period. Hedge funds and other institutional investors own 57.02% of the company's stock.

Insider Activity

In other Morningstar news, Director Caroline J. Tsay sold 200 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $309.84, for a total transaction of $61,968.00. Following the transaction, the director now directly owns 4,345 shares in the company, valued at $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 Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Joseph D. Mansueto sold 9,062 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $323.03, for a total value of $2,927,297.86. Following the transaction, the chairman now directly owns 10,085,626 shares in the company, valued at approximately $3,257,959,766.78. This represents a 0.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,085 shares of company stock worth $21,790,680 over the last 90 days. 36.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on MORN. StockNews.com raised Morningstar from a "hold" rating to a "buy" rating in a research report on Friday, May 2nd. BMO Capital Markets lifted their price target on Morningstar from $339.00 to $355.00 and gave the stock an "outperform" rating in a research note on Monday, May 12th.

Morningstar Stock Performance

NASDAQ MORN traded down $0.51 on Tuesday, hitting $310.14. The stock had a trading volume of 16,862 shares, compared to its average volume of 141,320. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.55. The company's 50-day moving average is $288.49 and its two-hundred day moving average is $316.98. The stock has a market cap of $13.10 billion, a price-to-earnings ratio of 40.97 and a beta of 0.99. Morningstar, Inc. has a one year low of $250.34 and a one year high of $365.00.

Morningstar (NASDAQ:MORN - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The business services provider reported $2.23 EPS for the quarter, topping analysts' consensus estimates of $2.10 by $0.13. Morningstar had a return on equity of 23.28% and a net margin of 14.69%. The company had revenue of $581.90 million for the quarter, compared to the consensus estimate of $589.07 million.

Morningstar Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th were issued a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 0.59%. This is an increase from Morningstar's previous quarterly dividend of $0.41. The ex-dividend date was Friday, April 4th. Morningstar's dividend payout ratio is currently 20.45%.

About Morningstar

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.