Morningstar, Inc. (NASDAQ:MORN) Shares Sold by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc cut its stake in Morningstar, Inc. (NASDAQ:MORN) by 0.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,024 shares of the business services provider’s stock after selling 214 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Morningstar were worth $6,877,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Harvest Fund Management Co. Ltd acquired a new stake in shares of Morningstar during the 3rd quarter worth approximately $42,000. Fifth Third Bancorp increased its stake in Morningstar by 55.2% during the third quarter. Fifth Third Bancorp now owns 194 shares of the business services provider’s stock worth $45,000 after acquiring an additional 69 shares during the last quarter. Exchange Traded Concepts LLC purchased a new stake in Morningstar in the third quarter valued at $48,000. Harbor Investment Advisory LLC acquired a new position in shares of Morningstar in the 3rd quarter valued at $52,000. Finally, CVA Family Office LLC purchased a new position in shares of Morningstar during the 4th quarter worth $65,000. 57.02% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on MORN. StockNews.com upgraded shares of Morningstar from a “hold” rating to a “buy” rating in a report on Thursday, February 29th. TheStreet raised shares of Morningstar from a “c” rating to a “b” rating in a research note on Friday, February 23rd.

Morningstar Stock Down 0.9 %

NASDAQ:MORN opened at $300.41 on Wednesday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.71. The stock’s fifty day moving average is $300.18 and its two-hundred day moving average is $279.68. Morningstar, Inc. has a 52 week low of $163.28 and a 52 week high of $316.05. The stock has a market capitalization of $12.84 billion, a price-to-earnings ratio of 91.59 and a beta of 1.15.

Morningstar (NASDAQ:MORN) last released its quarterly earnings results on Thursday, February 22nd. The business services provider reported $1.97 EPS for the quarter. Morningstar had a return on equity of 18.54% and a net margin of 6.92%. The company had revenue of $538.70 million for the quarter.

Morningstar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, April 5th will be paid a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 0.54%. The ex-dividend date is Thursday, April 4th. Morningstar’s payout ratio is currently 49.39%.

Insider Activity

In other news, Director Steven N. Kaplan sold 1,250 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $306.81, for a total value of $383,512.50. Following the sale, the director now directly owns 44,427 shares in the company, valued at $13,630,647.87. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Steven N. Kaplan sold 1,250 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $306.81, for a total value of $383,512.50. Following the transaction, the director now owns 44,427 shares of the company’s stock, valued at $13,630,647.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Joseph D. Mansueto sold 7,470 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $277.23, for a total value of $2,070,908.10. Following the completion of the transaction, the chairman now directly owns 10,927,151 shares in the company, valued at approximately $3,029,334,071.73. The disclosure for this sale can be found here. Over the last three months, insiders have sold 95,544 shares of company stock worth $27,733,515. Corporate insiders own 37.70% of the company’s stock.

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.