Praesidium Investment Management Company LLC decreased its stake in shares of Morningstar, Inc. (NASDAQ:MORN - Free Report) by 8.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 90,058 shares of the business services provider's stock after selling 8,708 shares during the period. Morningstar makes up 5.1% of Praesidium Investment Management Company LLC's investment portfolio, making the stock its 9th largest holding. Praesidium Investment Management Company LLC owned approximately 0.21% of Morningstar worth $30,328,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Smith Group Asset Management LLC bought a new position in Morningstar during the 4th quarter valued at approximately $468,000. Oak Thistle LLC increased its stake in Morningstar by 194.9% during the 4th quarter. Oak Thistle LLC now owns 4,276 shares of the business services provider's stock valued at $1,440,000 after purchasing an additional 2,826 shares in the last quarter. Oppenheimer & Co. Inc. raised its holdings in Morningstar by 29.4% in the fourth quarter. Oppenheimer & Co. Inc. now owns 1,073 shares of the business services provider's stock worth $361,000 after buying an additional 244 shares during the last quarter. Barclays PLC lifted its stake in shares of Morningstar by 19.9% in the third quarter. Barclays PLC now owns 16,563 shares of the business services provider's stock worth $5,286,000 after buying an additional 2,751 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Morningstar by 4.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 305,014 shares of the business services provider's stock valued at $102,719,000 after buying an additional 13,155 shares during the last quarter. Hedge funds and other institutional investors own 57.02% of the company's stock.
Insiders Place Their Bets
In related news, Chairman Joseph D. Mansueto sold 8,393 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $327.89, for a total value of $2,751,980.77. Following the completion of the transaction, the chairman now owns 10,096,098 shares of the company's stock, valued at $3,310,409,573.22. The trade was a 0.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 63,223 shares of company stock worth $19,542,793 in the last ninety days. 36.20% of the stock is owned by company insiders.
Analyst Ratings Changes
A number of equities analysts recently weighed in on MORN shares. StockNews.com upgraded shares of Morningstar from a "hold" rating to a "buy" rating in a report on Friday, May 2nd. BMO Capital Markets boosted their price target on Morningstar from $339.00 to $355.00 and gave the stock an "outperform" rating in a research note on Monday.
View Our Latest Analysis on MORN
Morningstar Trading Down 0.3%
Shares of MORN stock opened at $306.41 on Thursday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $12.95 billion, a price-to-earnings ratio of 40.48 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 stock's 50-day moving average price is $286.98 and its 200-day moving average price is $317.60.
Morningstar (NASDAQ:MORN - Get Free Report) last released its earnings results on Wednesday, April 30th. The business services provider reported $2.23 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.13. Morningstar had a return on equity of 23.28% and a net margin of 14.69%. The firm had revenue of $581.90 million for the quarter, compared to the consensus estimate of $589.07 million.
Morningstar Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Friday, April 4th were paid a $0.455 dividend. The ex-dividend date was Friday, April 4th. This represents a $1.82 annualized dividend and a yield of 0.59%. This is a boost from Morningstar's previous quarterly dividend of $0.41. Morningstar's dividend payout ratio is 20.45%.
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Morningstar, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Morningstar wasn't on the list.
While Morningstar currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
