Price T Rowe Associates Inc. MD Sells 16,303 Shares of Morningstar, Inc. (NASDAQ:MORN)

Price T Rowe Associates Inc. MD trimmed its stake in Morningstar, Inc. (NASDAQ:MORN - Free Report) by 2.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 668,889 shares of the business services provider's stock after selling 16,303 shares during the quarter. Price T Rowe Associates Inc. MD owned about 1.56% of Morningstar worth $225,257,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MORN. Smartleaf Asset Management LLC increased its position in shares of 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 in the last quarter. Bradley & Co. Private Wealth Management LLC bought a new stake in Morningstar during the 4th quarter worth approximately $28,000. R Squared Ltd bought a new stake in Morningstar during the 4th quarter worth approximately $40,000. V Square Quantitative Management LLC lifted its holdings in shares of 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 purchasing an additional 46 shares in the last quarter. Finally, Whittier Trust Co. boosted its position in shares of 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 buying an additional 106 shares during the last quarter. 57.02% of the stock is owned by institutional investors.

Analyst Ratings Changes

MORN has been the subject of a number of recent analyst reports. StockNews.com downgraded Morningstar from a "buy" rating to a "hold" rating in a research note on Friday, April 11th. BMO Capital Markets reduced their price target on shares of Morningstar from $387.00 to $370.00 and set an "outperform" rating for the company in a research report on Monday, March 3rd.

Morningstar Stock Performance

NASDAQ MORN traded up $3.59 during trading on Tuesday, hitting $282.33. 295,967 shares of the company's stock traded hands, compared to its average volume of 134,642. 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 stock has a market capitalization of $12.09 billion, a price-to-earnings ratio of 37.30 and a beta of 1.16. Morningstar, Inc. has a 12-month low of $250.34 and a 12-month high of $365.00. The business has a 50 day moving average of $290.43 and a 200-day moving average of $320.99.

Morningstar (NASDAQ:MORN - Get Free Report) last released 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 net margin of 14.69% and a return on equity of 23.28%. The company had revenue of $591.00 million during the quarter, compared to the consensus estimate of $580.81 million.

Morningstar Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be issued a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 0.64%. This is an increase from Morningstar's previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Friday, April 4th. Morningstar's dividend payout ratio is presently 21.24%.

Insider Activity

In other news, Chairman Joseph D. Mansueto sold 3,635 shares of Morningstar 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 completion of the sale, the chairman now owns 10,142,694 shares in the company, valued at approximately $3,300,838,335.36. This trade represents a 0.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders sold 59,544 shares of company stock worth $18,770,097. 36.20% of the stock is owned by company insiders.

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.