Morningstar, Inc. (NASDAQ:MORN) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System decreased its holdings in shares of Morningstar, Inc. (NASDAQ:MORN - Free Report) by 6.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 44,829 shares of the business services provider's stock after selling 3,236 shares during the period. California Public Employees Retirement System owned 0.10% of Morningstar worth $15,097,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Schroder Investment Management Group bought a new position in shares of Morningstar during the fourth quarter valued at approximately $33,829,000. Arrowstreet Capital Limited Partnership lifted its holdings in Morningstar by 339.0% during the fourth 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 boosted its position in Morningstar by 18.9% during the 4th quarter. Level Four Advisory Services LLC now owns 3,705 shares of the business services provider's stock valued at $1,248,000 after acquiring an additional 588 shares in the last quarter. Premier Fund Managers Ltd purchased a new position in shares of Morningstar in the 4th quarter valued at $50,694,000. Finally, Pictet Asset Management Holding SA raised its position in shares of Morningstar by 4.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 3,860 shares of the business services provider's stock worth $1,300,000 after acquiring an additional 181 shares in the last quarter. Institutional investors own 57.02% of the company's stock.

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Morningstar Stock Down 4.1 %

Shares of MORN traded down $10.91 during midday trading on Monday, hitting $257.85. 308,233 shares of the company's stock traded hands, compared to its average volume of 129,456. 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 $11.04 billion, a price-to-earnings ratio of 34.06 and a beta of 1.16. Morningstar, Inc. has a 1 year low of $253.35 and a 1 year high of $365.00. The firm's fifty day moving average is $309.72 and its 200-day moving average is $327.24.

Morningstar (NASDAQ:MORN - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The business services provider reported $2.14 EPS for the quarter, beating analysts' consensus estimates of $1.99 by $0.15. The company had revenue of $591.00 million during the quarter, compared to analysts' expectations of $580.81 million. Morningstar had a return on equity of 23.28% and a net margin of 14.69%.

Morningstar Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be issued a $0.455 dividend. The ex-dividend date is Friday, April 4th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 0.71%. This is a boost from Morningstar's previous quarterly dividend of $0.41. Morningstar's dividend payout ratio (DPR) is currently 21.24%.

Insider Activity

In related news, Chairman Joseph D. Mansueto sold 1,280 shares of the company's stock in a transaction that occurred on Wednesday, February 12th. The stock was 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. This represents a 0.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 59,544 shares of company stock valued at $18,770,097 over the last ninety days. 39.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MORN. StockNews.com raised Morningstar from a "hold" rating to a "buy" rating in a research report on Thursday. BMO Capital Markets lowered their price target on shares of Morningstar from $387.00 to $370.00 and set an "outperform" rating on the stock in a report on Monday, March 3rd.

About Morningstar

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.