Prudential Financial Inc. boosted its holdings in Morningstar, Inc. (NASDAQ:MORN - Free Report) by 48.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,353 shares of the business services provider's stock after acquiring an additional 5,677 shares during the quarter. Prudential Financial Inc.'s holdings in Morningstar were worth $5,844,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Morningstar by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 2,803,611 shares of the business services provider's stock worth $944,144,000 after acquiring an additional 51,598 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Morningstar during the fourth quarter worth about $16,497,000. FMR LLC boosted its holdings in shares of Morningstar by 10.9% in the 3rd quarter. FMR LLC now owns 400,520 shares of the business services provider's stock worth $127,814,000 after purchasing an additional 39,263 shares in the last quarter. DF Dent & Co. Inc. increased its position in shares of Morningstar by 61.3% during the 3rd quarter. DF Dent & Co. Inc. now owns 88,378 shares of the business services provider's stock valued at $28,203,000 after purchasing an additional 33,595 shares during the last quarter. Finally, Nicholas Company Inc. raised its holdings in shares of Morningstar by 115.2% during the 4th quarter. Nicholas Company Inc. now owns 56,630 shares of the business services provider's stock valued at $19,071,000 after buying an additional 30,320 shares in the last quarter. Hedge funds and other institutional investors own 57.02% of the company's stock.
Insiders Place Their Bets
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 value of $1,182,974.40. Following the completion of the transaction, the chairman now owns 10,142,694 shares of the company's stock, valued at $3,300,838,335.36. The trade was a 0.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders sold 59,544 shares of company stock worth $18,770,097. 39.90% of the stock is owned by corporate insiders.
Morningstar Trading Down 7.6 %
MORN stock traded down $22.12 on Friday, reaching $268.76. The company's stock had a trading volume of 193,873 shares, compared to its average volume of 128,783. The firm has a market cap of $11.51 billion, a PE ratio of 35.50 and a beta of 1.23. The business has a fifty day simple moving average of $309.72 and a two-hundred day simple moving average of $327.11. Morningstar, Inc. has a 12-month low of $268.23 and a 12-month high of $365.00. 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 (NASDAQ:MORN - Get Free Report) last announced its earnings results on Wednesday, February 26th. The business services provider reported $2.14 earnings per share for the quarter, beating analysts' consensus estimates of $1.99 by $0.15. Morningstar had a net margin of 14.69% and a return on equity of 23.28%. The firm had revenue of $591.00 million for the quarter, compared to analyst estimates of $580.81 million.
Morningstar Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 4th will be given a dividend of $0.455 per share. The ex-dividend date of this dividend is Friday, April 4th. This is a positive change from Morningstar's previous quarterly dividend of $0.41. This represents a $1.82 annualized dividend and a dividend yield of 0.68%. Morningstar's payout ratio is currently 21.24%.
Wall Street Analyst Weigh In
MORN has been the topic of a number of recent research reports. StockNews.com upgraded shares of Morningstar from a "hold" rating to a "buy" rating in a research report on Thursday. BMO Capital Markets decreased their price objective on Morningstar from $387.00 to $370.00 and set an "outperform" rating on the stock in a report on Monday, March 3rd.
Read Our Latest Report on Morningstar
About Morningstar
(
Free Report)
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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