Asset Management One Co. Ltd. lessened its stake in shares of Morningstar, Inc. (NASDAQ:MORN - Free Report) by 15.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,135 shares of the business services provider's stock after selling 5,614 shares during the quarter. Asset Management One Co. Ltd. owned 0.07% of Morningstar worth $10,550,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Harbor Capital Advisors Inc. lifted its stake in shares of Morningstar by 0.7% during the fourth quarter. Harbor Capital Advisors Inc. now owns 5,626 shares of the business services provider's stock worth $1,895,000 after purchasing an additional 37 shares in the last quarter. Versant Capital Management Inc lifted its stake in shares of Morningstar by 15.9% during the fourth quarter. Versant Capital Management Inc now owns 285 shares of the business services provider's stock worth $96,000 after purchasing an additional 39 shares in the last quarter. CIBC Asset Management Inc lifted its stake in shares of Morningstar by 3.4% during the third quarter. CIBC Asset Management Inc now owns 1,259 shares of the business services provider's stock worth $402,000 after purchasing an additional 41 shares in the last quarter. Planning Alternatives Ltd. ADV lifted its stake in shares of Morningstar by 2.2% during the third quarter. Planning Alternatives Ltd. ADV now owns 2,254 shares of the business services provider's stock worth $719,000 after purchasing an additional 49 shares in the last quarter. Finally, UMB Bank n.a. lifted its stake 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 worth $157,000 after purchasing an additional 54 shares in the last quarter. Institutional investors and hedge funds own 57.02% of the company's stock.
Wall Street Analyst Weigh In
Separately, StockNews.com cut Morningstar from a "buy" rating to a "hold" rating in a research note on Monday. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $360.67.
Get Our Latest Stock Report on MORN
Insider Buying and Selling
In other Morningstar news, CFO Jason Dubinsky sold 3,223 shares of the company's stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $352.88, for a total transaction of $1,137,332.24. Following the sale, the chief financial officer now owns 17,304 shares in the company, valued at $6,106,235.52. This represents a 15.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Joseph D. Mansueto sold 1,280 shares of the company's stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $320.57, for a total value of $410,329.60. Following the sale, the chairman now owns 10,130,378 shares in the company, valued at $3,247,495,275.46. The trade was a 0.01 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,106 shares of company stock worth $7,878,540. 39.90% of the stock is currently owned by corporate insiders.
Morningstar Stock Down 0.4 %
Shares of NASDAQ:MORN traded down $1.34 during trading on Thursday, hitting $327.11. The company's stock had a trading volume of 174,576 shares, compared to its average volume of 113,336. 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, Inc. has a fifty-two week low of $270.44 and a fifty-two week high of $365.00. The stock's 50-day moving average price is $331.48 and its two-hundred day moving average price is $329.41. The company has a market capitalization of $14.03 billion, a PE ratio of 43.21 and a beta of 1.20.
Morningstar Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 3rd will be paid a $0.455 dividend. This is a boost from Morningstar's previous quarterly dividend of $0.41. The ex-dividend date is Friday, October 3rd. This represents a $1.82 annualized dividend and a dividend yield of 0.56%. Morningstar's payout ratio is 24.04%.
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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