Nordea Investment Management AB Buys 1,963 Shares of Morningstar, Inc. (NASDAQ:MORN)

Nordea Investment Management AB raised its position in Morningstar, Inc. (NASDAQ:MORN - Free Report) by 3.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,505 shares of the business services provider's stock after purchasing an additional 1,963 shares during the quarter. Nordea Investment Management AB owned 0.13% of Morningstar worth $19,506,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Versant Capital Management Inc increased its stake in Morningstar by 15.9% in the 4th quarter. Versant Capital Management Inc now owns 285 shares of the business services provider's stock valued at $96,000 after buying an additional 39 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of Morningstar by 3.4% in the 3rd quarter. CIBC Asset Management Inc now owns 1,259 shares of the business services provider's stock valued at $402,000 after acquiring an additional 41 shares in the last quarter. Planning Alternatives Ltd. ADV increased its position in shares of Morningstar by 2.2% in the third quarter. Planning Alternatives Ltd. ADV now owns 2,254 shares of the business services provider's stock valued at $719,000 after acquiring an additional 49 shares during the last quarter. UMB Bank n.a. raised its holdings in Morningstar by 15.7% during the third quarter. UMB Bank n.a. now owns 413 shares of the business services provider's stock worth $132,000 after acquiring an additional 56 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its position in Morningstar by 7.4% during the third quarter. QRG Capital Management Inc. now owns 832 shares of the business services provider's stock valued at $266,000 after purchasing an additional 57 shares during the last quarter. 57.02% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on MORN shares. StockNews.com lowered Morningstar from a "buy" rating to a "hold" rating in a research report on Tuesday. Redburn Atlantic lowered shares of Morningstar from a "buy" rating to a "neutral" rating and set a $340.00 price target on the stock. in a research report on Wednesday, October 9th. Finally, UBS Group began coverage on shares of Morningstar in a research report on Tuesday, October 8th. They issued a "buy" rating and a $390.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, Morningstar currently has an average rating of "Moderate Buy" and a consensus target price of $360.67.

Insider Buying and Selling at Morningstar

In other Morningstar news, Chairman Joseph D. Mansueto sold 9,062 shares of the business's stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $355.22, for a total value of $3,219,003.64. Following the completion of the sale, the chairman now owns 10,738,224 shares of the company's stock, valued at $3,814,431,929.28. The trade was a 0.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Jason Dubinsky sold 3,223 shares of the 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 transaction, the chief financial officer now owns 17,304 shares in the company, valued at approximately $6,106,235.52. The trade was a 15.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 51,661 shares of company stock valued at $17,723,744 in the last ninety days. 39.90% of the stock is currently owned by corporate insiders.

Morningstar Stock Performance

Shares of MORN traded up $1.31 during trading hours on Thursday, hitting $322.36. The company had a trading volume of 140,058 shares, compared to its average volume of 109,672. The firm has a market cap of $13.82 billion, a price-to-earnings ratio of 42.58 and a beta of 1.20. 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 business has a fifty day moving average of $343.44 and a 200-day moving average of $325.17. Morningstar, Inc. has a 12 month low of $269.51 and a 12 month high of $365.00.

Morningstar (NASDAQ:MORN - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $2.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.01). Morningstar had a return on equity of 23.28% and a net margin of 14.69%. The company had revenue of $569.40 million for the quarter.

Morningstar Increases Dividend

The company 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. The ex-dividend date is Friday, October 3rd. This is an increase from Morningstar's previous quarterly dividend of $0.41. This represents a $1.82 annualized dividend and a yield of 0.56%. Morningstar's payout ratio is 24.04%.

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.