Smith Group Asset Management LLC Buys Shares of 1,390 Morningstar, Inc. (NASDAQ:MORN)

Smith Group Asset Management LLC purchased a new position in shares of Morningstar, Inc. (NASDAQ:MORN) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 1,390 shares of the business services provider’s stock, valued at approximately $468,000.

Several other institutional investors have also made changes to their positions in the company. Harbor Capital Advisors Inc. raised its stake in shares of Morningstar by 0.7% in the 4th quarter. Harbor Capital Advisors Inc. now owns 5,626 shares of the business services provider’s stock valued at $1,895,000 after acquiring an additional 37 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of Morningstar by 15.9% during the 4th quarter. Versant Capital Management Inc now owns 285 shares of the business services provider’s stock worth $96,000 after buying an additional 39 shares during the period. CIBC Asset Management Inc raised its holdings in Morningstar by 3.4% in the 3rd quarter. CIBC Asset Management Inc now owns 1,259 shares of the business services provider’s stock worth $402,000 after acquiring an additional 41 shares during the period. Planning Alternatives Ltd. ADV lifted its position in Morningstar by 2.2% during the 3rd quarter. Planning Alternatives Ltd. ADV now owns 2,254 shares of the business services provider’s stock worth $719,000 after acquiring an additional 49 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in Morningstar by 13.1% during the fourth quarter. UMB Bank n.a. now owns 467 shares of the business services provider’s stock valued at $157,000 after acquiring an additional 54 shares during the period. 57.02% of the stock is currently owned by institutional investors and hedge funds.

Morningstar Trading Down 1.2 %

Morningstar stock opened at $326.48 on Thursday. Morningstar, Inc. has a 12 month low of $269.51 and a 12 month high of $365.00. The stock has a market cap of $14.00 billion, a price-to-earnings ratio of 43.13 and a beta of 1.20. The business has a 50 day moving average price of $339.93 and a two-hundred day moving average price of $328.13. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.55.

Morningstar Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 3rd will be paid a dividend of $0.455 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $1.82 dividend on an annualized basis and a yield of 0.56%. This is an increase from Morningstar’s previous quarterly dividend of $0.41. Morningstar’s payout ratio is currently 24.04%.

Insider Buying and Selling at Morningstar

In other Morningstar news, Chairman Joseph D. Mansueto sold 9,062 shares of the firm’s 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 in the company, valued at $3,559,781,561.96. This trade represents a 0.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Jason Dubinsky sold 3,223 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were 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 owns 17,304 shares in the company, valued at approximately $6,106,235.52. This represents a 15.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,911 shares of company stock valued at $17,474,834 in the last 90 days. 39.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on MORN shares. UBS Group initiated coverage on Morningstar in a research report on Tuesday, October 8th. They set a “buy” rating and a $390.00 price objective for the company. Redburn Atlantic downgraded shares of Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 price objective on the stock. in a research note on Wednesday, October 9th. Finally, StockNews.com upgraded shares of Morningstar from a “hold” rating to a “buy” rating in a research note on Wednesday, January 15th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $360.67.

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.