Morningstar, Inc. (NASDAQ:MORN) Shares Sold by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC cut its holdings in shares of Morningstar, Inc. (NASDAQ:MORN - Free Report) by 6.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 975,193 shares of the business services provider's stock after selling 67,889 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned 2.27% of Morningstar worth $328,406,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in MORN. Smartleaf Asset Management LLC boosted its holdings in Morningstar by 178.6% in the fourth 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 last quarter. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Morningstar in the 4th quarter valued at about $28,000. R Squared Ltd purchased a new stake in shares of Morningstar in the fourth quarter worth about $40,000. V Square Quantitative Management LLC grew its holdings in Morningstar by 49.5% during the fourth quarter. V Square Quantitative Management LLC now owns 139 shares of the business services provider's stock worth $47,000 after acquiring an additional 46 shares during the period. Finally, Whittier Trust Co. raised its position in Morningstar by 64.2% during the fourth quarter. Whittier Trust Co. now owns 271 shares of the business services provider's stock valued at $91,000 after acquiring an additional 106 shares in the last quarter. 57.02% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Chairman Joseph D. Mansueto sold 9,062 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $282.25, for a total value of $2,557,749.50. Following the completion of the sale, the chairman now directly owns 10,038,270 shares in the company, valued at $2,833,301,707.50. This represents a 0.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders have sold 59,544 shares of company stock worth $18,770,097. 39.90% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. StockNews.com cut shares of Morningstar from a "buy" rating to a "hold" rating in a research note on Friday, April 11th. BMO Capital Markets lowered their target price on shares of Morningstar from $387.00 to $370.00 and set an "outperform" rating on the stock in a research note on Monday, March 3rd.

Morningstar Price Performance

Shares of NASDAQ MORN opened at $277.19 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a market cap of $11.87 billion, a PE ratio of 36.62 and a beta of 1.16. Morningstar, Inc. has a one year low of $250.34 and a one year high of $365.00. The firm has a fifty day moving average of $296.50 and a 200 day moving average of $323.22.

Morningstar (NASDAQ:MORN - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The business services provider reported $2.14 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $580.81 million.

Morningstar Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be given a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 0.66%. This is a boost from Morningstar's previous quarterly dividend of $0.41. The ex-dividend date is Friday, April 4th. Morningstar's dividend payout ratio is 21.24%.

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.

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