Diversify Advisory Services LLC lessened its position in shares of Morningstar, Inc. (NASDAQ:MORN – Free Report) by 5.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,072 shares of the business services provider’s stock after selling 67 shares during the quarter. Diversify Advisory Services LLC’s holdings in Morningstar were worth $339,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted its stake in shares of Morningstar by 9.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,201,708 shares of the business services provider’s stock worth $383,489,000 after purchasing an additional 102,206 shares during the period. Wellington Management Group LLP raised its position in Morningstar by 0.5% in the third quarter. Wellington Management Group LLP now owns 950,512 shares of the business services provider’s stock worth $303,327,000 after acquiring an additional 5,158 shares during the period. State Street Corp raised its position in Morningstar by 3.7% in the third quarter. State Street Corp now owns 804,293 shares of the business services provider’s stock worth $256,666,000 after acquiring an additional 28,698 shares during the period. Wasatch Advisors LP boosted its stake in shares of Morningstar by 13.9% during the 3rd quarter. Wasatch Advisors LP now owns 696,023 shares of the business services provider’s stock worth $222,115,000 after acquiring an additional 85,098 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Morningstar by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 497,411 shares of the business services provider’s stock valued at $158,772,000 after acquiring an additional 10,437 shares during the period. Institutional investors own 57.02% of the company’s stock.
Insider Buying and Selling
In other Morningstar news, Chairman Joseph D. Mansueto sold 9,062 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $328.22, for a total transaction of $2,974,329.64. Following the completion of the transaction, the chairman now owns 10,845,718 shares of the company’s stock, valued at $3,559,781,561.96. This represents a 0.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jason Dubinsky sold 3,223 shares of Morningstar stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $352.88, for a total value of $1,137,332.24. Following the completion of the sale, the chief financial officer now directly owns 17,304 shares in the company, valued at $6,106,235.52. This trade represents a 15.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 51,661 shares of company stock worth $17,723,744. 37.70% of the stock is owned by insiders.
Morningstar Price Performance
Morningstar (NASDAQ:MORN – Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $2.00 EPS for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.01). Morningstar had a return on equity of 23.28% and a net margin of 14.69%. The business had revenue of $569.40 million during the quarter.
Morningstar Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 3rd will be issued a $0.455 dividend. This represents a $1.82 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend is Friday, October 3rd. This is an increase from Morningstar’s previous quarterly dividend of $0.41. Morningstar’s payout ratio is 24.04%.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on MORN shares. UBS Group assumed coverage on Morningstar in a report on Tuesday, October 8th. They set a “buy” rating and a $390.00 price target for the company. StockNews.com upgraded Morningstar from a “hold” rating to a “buy” rating in a research note on Wednesday, January 15th. Finally, Redburn Atlantic cut shares of Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 target price on the stock. in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $360.67.
Check Out Our Latest Analysis on MORN
Morningstar Company Profile
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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