Morningstar, Inc. (NASDAQ:MORN) Shares Sold by Millennium Management LLC

Millennium Management LLC cut its stake in Morningstar, Inc. (NASDAQ:MORN - Free Report) by 41.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 287,658 shares of the business services provider's stock after selling 207,448 shares during the period. Millennium Management LLC owned 0.67% of Morningstar worth $96,872,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Smartleaf Asset Management LLC increased its holdings 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 valued at $26,000 after purchasing an additional 50 shares during the period. Bradley & Co. Private Wealth Management LLC purchased a new position in Morningstar during the 4th quarter worth approximately $28,000. R Squared Ltd purchased a new position in Morningstar during the 4th quarter worth approximately $40,000. V Square Quantitative Management LLC lifted its stake in Morningstar by 49.5% during the 4th quarter. V Square Quantitative Management LLC now owns 139 shares of the business services provider's stock valued at $47,000 after acquiring an additional 46 shares during the period. Finally, Johnson Financial Group Inc. purchased a new stake in shares of Morningstar in the 4th quarter valued at $71,000. Institutional investors and hedge funds own 57.02% of the company's stock.

Wall Street Analysts Forecast Growth

MORN has been the subject of several recent research reports. StockNews.com raised shares of Morningstar from a "hold" rating to a "buy" rating in a report on Friday, May 2nd. BMO Capital Markets increased their price target on Morningstar from $339.00 to $355.00 and gave the stock an "outperform" rating in a research report on Monday, May 12th.

Morningstar Stock Performance

Morningstar stock traded down $0.60 during mid-day trading on Friday, hitting $309.46. The company had a trading volume of 175,121 shares, compared to its average volume of 141,502. The company has a market capitalization of $13.07 billion, a price-to-earnings ratio of 40.88 and a beta of 0.99. Morningstar, Inc. has a 12-month low of $250.34 and a 12-month high of $365.00. The company's fifty day moving average is $288.03 and its 200-day moving average is $317.18. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.55.

Morningstar (NASDAQ:MORN - Get Free Report) last posted its earnings results on Wednesday, April 30th. The business services provider reported $2.23 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $581.90 million during the quarter, compared to analysts' expectations of $589.07 million.

Morningstar Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th were given a $0.455 dividend. The ex-dividend date of this dividend was Friday, April 4th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 0.59%. This is an increase from Morningstar's previous quarterly dividend of $0.41. Morningstar's dividend payout ratio is 20.45%.

Insider Transactions at Morningstar

In other news, Chairman Joseph D. Mansueto sold 7,250 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chairman now directly owns 9,457,231 shares of the company's stock, valued at $2,895,047,553.72. This represents a 0.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders have sold a total of 79,947 shares of company stock valued at $24,690,718 in the last ninety days. 36.20% of the stock is currently owned by corporate insiders.

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.