Select Equity Group L.P. Sells 384,886 Shares of Morningstar, Inc. (NASDAQ:MORN)

Select Equity Group L.P. lowered its position in shares of Morningstar, Inc. (NASDAQ:MORN - Free Report) by 21.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,374,435 shares of the business services provider's stock after selling 384,886 shares during the quarter. Morningstar accounts for approximately 1.8% of Select Equity Group L.P.'s investment portfolio, making the stock its 20th largest position. Select Equity Group L.P. owned approximately 3.21% of Morningstar worth $462,855,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of MORN. Deutsche Bank AG grew its holdings in shares of Morningstar by 2.4% in the 4th quarter. Deutsche Bank AG now owns 1,798 shares of the business services provider's stock worth $605,000 after acquiring an additional 42 shares during the last quarter. V Square Quantitative Management LLC grew its position 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 worth $47,000 after purchasing an additional 46 shares in the last quarter. Smartleaf Asset Management LLC grew its position in Morningstar by 178.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 78 shares of the business services provider's stock worth $26,000 after purchasing an additional 50 shares in the last quarter. Covestor Ltd grew its position in Morningstar by 14.6% during the 4th quarter. Covestor Ltd now owns 416 shares of the business services provider's stock worth $140,000 after purchasing an additional 53 shares in the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of 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 buying an additional 54 shares in the last quarter. Institutional investors own 57.02% of the company's stock.

Insider Activity at Morningstar

In other news, Chairman Joseph D. Mansueto sold 9,062 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $323.03, for a total transaction of $2,927,297.86. Following the transaction, the chairman now owns 10,085,626 shares of the company's stock, valued at approximately $3,257,959,766.78. This represents a 0.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Caroline J. Tsay sold 200 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $309.84, for a total value of $61,968.00. Following the transaction, the director now directly owns 4,345 shares in the company, valued at approximately $1,346,254.80. This represents a 4.40% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,085 shares of company stock valued at $21,790,680. Insiders own 36.20% of the company's stock.

Analyst Ratings Changes

MORN has been the topic of a number of research analyst reports. StockNews.com upgraded Morningstar from a "hold" rating to a "buy" rating in a report on Friday, May 2nd. BMO Capital Markets lifted their price target on Morningstar from $339.00 to $355.00 and gave the company an "outperform" rating in a report on Monday, May 12th.

Morningstar Stock Down 0.1%

NASDAQ MORN traded down $0.21 on Tuesday, reaching $310.44. The stock had a trading volume of 88,097 shares, compared to its average volume of 141,505. The business has a 50 day moving average price of $288.49 and a 200 day moving average price of $316.98. 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, Inc. has a 1 year low of $250.34 and a 1 year high of $365.00. The company has a market capitalization of $13.12 billion, a price-to-earnings ratio of 41.01 and a beta of 0.99.

Morningstar (NASDAQ:MORN - Get Free Report) last issued 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. 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 firm 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. This represents a $1.82 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend was Friday, April 4th. This is a positive change from Morningstar's previous quarterly dividend of $0.41. Morningstar's payout ratio is presently 20.45%.

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.