Focus Partners Wealth lessened its position in shares of Morningstar, Inc. (NASDAQ:MORN - Free Report) by 24.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,712 shares of the business services provider's stock after selling 1,185 shares during the quarter. Focus Partners Wealth's holdings in Morningstar were worth $1,281,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MORN. Smartleaf Asset Management LLC grew its position in shares of Morningstar by 178.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 78 shares of the business services provider's stock valued at $26,000 after acquiring an additional 50 shares during the period. Bradley & Co. Private Wealth Management LLC purchased a new position in Morningstar during the fourth quarter worth approximately $28,000. R Squared Ltd acquired a new stake in Morningstar in the fourth quarter valued at approximately $40,000. V Square Quantitative Management LLC grew its holdings in Morningstar by 49.5% in the fourth quarter. V Square Quantitative Management LLC now owns 139 shares of the business services provider's stock valued at $47,000 after purchasing an additional 46 shares during the period. Finally, Johnson Financial Group Inc. purchased a new stake in shares of Morningstar in the fourth quarter valued at approximately $71,000. Hedge funds and other institutional investors own 57.02% of the company's stock.
Analyst Ratings Changes
A number of equities analysts have weighed in on the stock. BMO Capital Markets upped their price objective on shares of Morningstar from $339.00 to $355.00 and gave the stock an "outperform" rating in a research report on Monday, May 12th. StockNews.com upgraded shares of Morningstar from a "hold" rating to a "buy" rating in a research report on Friday, May 2nd.
Check Out Our Latest Analysis on MORN
Insiders Place Their Bets
In other news, Chairman Joseph D. Mansueto sold 7,250 shares of the company's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $306.12, for a total transaction of $2,219,370.00. Following the sale, the chairman now owns 9,457,231 shares of the company's stock, valued at approximately $2,895,047,553.72. This represents a 0.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 79,947 shares of company stock worth $24,690,718 in the last ninety days. 36.20% of the stock is owned by corporate insiders.
Morningstar Stock Performance
Shares of MORN stock opened at $309.46 on Friday. Morningstar, Inc. has a one year low of $250.34 and a one year high of $365.00. The firm's 50 day moving average price is $288.03 and its 200-day moving average price is $317.18. The firm has a market cap of $13.07 billion, a P/E ratio of 40.88 and a beta of 0.99. 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 (NASDAQ:MORN - Get Free Report) last announced its earnings results on Wednesday, April 30th. The business services provider reported $2.23 EPS for the quarter, beating analysts' consensus estimates of $2.10 by $0.13. The company had revenue of $581.90 million during the quarter, compared to analysts' expectations of $589.07 million. Morningstar had a return on equity of 23.28% and a net margin of 14.69%.
Morningstar Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Friday, April 4th were paid a dividend of $0.455 per share. This is an increase from Morningstar's previous quarterly dividend of $0.41. This represents a $1.82 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend was Friday, April 4th. Morningstar's dividend payout ratio is presently 20.45%.
Morningstar Profile
(
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.
Further Reading
Want to see what other hedge funds are holding MORN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Morningstar, Inc. (NASDAQ:MORN - Free Report).
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