Norges Bank Invests $111.69 Million in Morningstar, Inc. (NASDAQ:MORN)

Norges Bank acquired a new position in Morningstar, Inc. (NASDAQ:MORN - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 331,673 shares of the business services provider's stock, valued at approximately $111,694,000. Norges Bank owned about 0.77% of Morningstar as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of MORN. Harbor Capital Advisors Inc. grew its position in Morningstar by 0.7% in the 4th 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 grew its holdings in shares of Morningstar by 15.9% in the fourth quarter. Versant Capital Management Inc now owns 285 shares of the business services provider's stock valued at $96,000 after acquiring an additional 39 shares in the last quarter. V Square Quantitative Management LLC increased its position in shares of Morningstar by 49.5% during the fourth quarter. V Square Quantitative Management LLC now owns 139 shares of the business services provider's stock valued at $47,000 after acquiring an additional 46 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in Morningstar by 178.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 78 shares of the business services provider's stock worth $26,000 after acquiring an additional 50 shares during the period. Finally, UMB Bank n.a. boosted its position in Morningstar by 13.1% in 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 during the last quarter. Institutional investors own 57.02% of the company's stock.

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Insider Buying and Selling

In related news, Chairman Joseph D. Mansueto sold 3,635 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $325.44, for a total transaction of $1,182,974.40. Following the sale, the chairman now owns 10,142,694 shares of the company's stock, valued at approximately $3,300,838,335.36. This represents a 0.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 59,544 shares of company stock valued at $18,770,097. Company insiders own 39.90% of the company's stock.

Analyst Ratings Changes

MORN has been the topic of a number of recent analyst reports. StockNews.com upgraded Morningstar from a "hold" rating to a "buy" rating in a research note on Thursday. BMO Capital Markets lowered their price objective 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.

Morningstar Stock Performance

Shares of MORN traded down $22.12 during mid-day trading on Friday, hitting $268.76. The stock had a trading volume of 193,873 shares, compared to its average volume of 128,741. Morningstar, Inc. has a 52 week low of $268.31 and a 52 week high of $365.00. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.14 and a quick ratio of 1.14. The business has a fifty day moving average price of $309.72 and a 200-day moving average price of $327.24. The firm has a market cap of $11.51 billion, a P/E ratio of 35.50 and a beta of 1.16.

Morningstar (NASDAQ:MORN - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The business services provider reported $2.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.99 by $0.15. The business had revenue of $591.00 million for 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 firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 4th will be paid a dividend of $0.455 per share. This is a boost from Morningstar's previous quarterly dividend of $0.41. This represents a $1.82 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date is Friday, April 4th. Morningstar's dividend payout ratio is presently 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.