Schroder Investment Management Group acquired a new stake in Morningstar, Inc. (NASDAQ:MORN - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 100,185 shares of the business services provider's stock, valued at approximately $33,829,000. Schroder Investment Management Group owned 0.23% of Morningstar at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership increased its stake in Morningstar by 339.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 117,156 shares of the business services provider's stock worth $39,453,000 after buying an additional 90,466 shares during the period. Level Four Advisory Services LLC increased its position in shares of Morningstar by 18.9% during the fourth quarter. Level Four Advisory Services LLC now owns 3,705 shares of the business services provider's stock worth $1,248,000 after acquiring an additional 588 shares during the period. Premier Fund Managers Ltd acquired a new stake in shares of Morningstar in the fourth quarter valued at $50,694,000. Pictet Asset Management Holding SA boosted its holdings in Morningstar by 4.9% in the fourth quarter. Pictet Asset Management Holding SA now owns 3,860 shares of the business services provider's stock valued at $1,300,000 after purchasing an additional 181 shares during the period. Finally, Norges Bank acquired a new position in Morningstar during the 4th quarter worth $111,694,000. Institutional investors and hedge funds own 57.02% of the company's stock.
Insiders Place Their Bets
In other news, Chairman Joseph D. Mansueto sold 3,635 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $325.44, for a total value of $1,182,974.40. Following the completion of the sale, the chairman now directly owns 10,142,694 shares of the company's stock, valued at approximately $3,300,838,335.36. This represents a 0.04 % 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 this hyperlink. Over the last 90 days, insiders have sold 59,544 shares of company stock valued at $18,770,097. 39.90% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on the stock. StockNews.com upgraded shares of Morningstar from a "hold" rating to a "buy" rating in a research note on Thursday. BMO Capital Markets lowered their target price on shares of Morningstar from $387.00 to $370.00 and set an "outperform" rating for the company in a research note on Monday, March 3rd.
Check Out Our Latest Report on Morningstar
Morningstar Stock Down 7.6 %
MORN traded down $22.12 on Friday, reaching $268.76. The company's stock had a trading volume of 193,873 shares, compared to its average volume of 128,741. The company has a market capitalization of $11.51 billion, a price-to-earnings ratio of 35.50 and a beta of 1.16. Morningstar, Inc. has a fifty-two week low of $268.31 and a fifty-two week high of $365.00. 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 stock has a 50 day moving average of $309.72 and a two-hundred day moving average of $327.24.
Morningstar (NASDAQ:MORN - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The business services provider reported $2.14 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.15. The business had revenue of $591.00 million during the quarter, compared to the consensus estimate of $580.81 million. Morningstar had a net margin of 14.69% and a return on equity of 23.28%.
Morningstar Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be paid a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 0.68%. The ex-dividend date is Friday, April 4th. This is an increase from Morningstar's previous quarterly dividend of $0.41. Morningstar's dividend payout ratio is currently 21.24%.
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.
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