Geode Capital Management LLC Grows Position in Morningstar, Inc. (NASDAQ:MORN)

Geode Capital Management LLC boosted its stake in Morningstar, Inc. (NASDAQ:MORN - Free Report) by 12.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 561,431 shares of the business services provider's stock after buying an additional 64,020 shares during the quarter. Geode Capital Management LLC owned approximately 1.31% of Morningstar worth $189,116,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Smartleaf Asset Management LLC boosted its stake in Morningstar by 178.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 78 shares of the business services provider's stock valued at $26,000 after purchasing an additional 50 shares during the period. Bradley & Co. Private Wealth Management LLC acquired a new stake in Morningstar in the 4th quarter valued at $28,000. R Squared Ltd acquired a new position in Morningstar during the fourth quarter worth $40,000. V Square Quantitative Management LLC boosted its position in Morningstar by 49.5% in the fourth quarter. V Square Quantitative Management LLC now owns 139 shares of the business services provider's stock valued at $47,000 after buying an additional 46 shares in the last quarter. Finally, Whittier Trust Co. grew its position in Morningstar by 64.2% during the 4th quarter. Whittier Trust Co. now owns 271 shares of the business services provider's stock worth $91,000 after acquiring an additional 106 shares during the last quarter. Institutional investors and hedge funds own 57.02% of the company's stock.

Morningstar Stock Performance

MORN traded up $2.65 during trading hours on Friday, reaching $273.35. The company's stock had a trading volume of 170,878 shares, compared to its average volume of 131,017. The firm has a market cap of $11.71 billion, a PE ratio of 36.11 and a beta of 1.16. 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 52 week low of $250.34 and a 52 week high of $365.00. The company's 50-day moving average is $301.06 and its 200-day moving average is $324.55.

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

Morningstar Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be paid a $0.455 dividend. The ex-dividend date is Friday, April 4th. This represents a $1.82 annualized dividend and a dividend yield of 0.67%. This is an increase from Morningstar's previous quarterly dividend of $0.41. Morningstar's dividend payout ratio is currently 21.24%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on MORN shares. StockNews.com downgraded Morningstar from a "buy" rating to a "hold" rating in a report on Friday. BMO Capital Markets reduced their price target on shares of Morningstar from $387.00 to $370.00 and set an "outperform" rating on the stock in a research report on Monday, March 3rd.

Insiders Place Their Bets

In other Morningstar news, Chairman Joseph D. Mansueto sold 9,062 shares of Morningstar stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $282.25, for a total transaction of $2,557,749.50. Following the completion of the transaction, the chairman now owns 10,038,270 shares in the company, valued at approximately $2,833,301,707.50. The trade was a 0.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 59,544 shares of company stock valued at $18,770,097 in the last ninety days. 39.90% of the stock is currently owned by insiders.

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.