State of Alaska Department of Revenue Sells 45 Shares of Morningstar, Inc. (NASDAQ:MORN)

State of Alaska Department of Revenue cut its stake in Morningstar, Inc. (NASDAQ:MORN) by 0.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,157 shares of the business services provider’s stock after selling 45 shares during the period. State of Alaska Department of Revenue’s holdings in Morningstar were worth $5,103,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC lifted its stake in shares of Morningstar by 2.1% in the third quarter. Geode Capital Management LLC now owns 497,411 shares of the business services provider’s stock valued at $158,772,000 after buying an additional 10,437 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Morningstar by 2.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 191,765 shares of the business services provider’s stock valued at $61,196,000 after acquiring an additional 5,045 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Morningstar by 12.7% in the 3rd quarter. Victory Capital Management Inc. now owns 15,843 shares of the business services provider’s stock worth $5,056,000 after acquiring an additional 1,789 shares during the period. Quantbot Technologies LP grew its holdings in shares of Morningstar by 259.3% during the 3rd quarter. Quantbot Technologies LP now owns 13,769 shares of the business services provider’s stock worth $4,394,000 after purchasing an additional 9,937 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Morningstar during the third quarter valued at approximately $3,181,000. 57.02% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Morningstar

In related news, Chairman Joseph D. Mansueto sold 3,635 shares of the stock in a transaction dated Wednesday, February 5th. The shares were 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 $3,300,838,335.36. This trade represents a 0.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Jason Dubinsky sold 3,223 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $352.88, for a total transaction of $1,137,332.24. Following the completion of the transaction, the chief financial officer now owns 17,304 shares in the company, valued at approximately $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. Insiders have sold a total of 29,076 shares of company stock valued at $10,103,008 in the last 90 days. 37.70% of the stock is owned by corporate insiders.

Morningstar Stock Down 0.2 %

Shares of MORN opened at $326.34 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.55. The company has a 50-day moving average price of $336.92 and a two-hundred day moving average price of $328.75. The stock has a market cap of $13.99 billion, a price-to-earnings ratio of 43.11 and a beta of 1.20. Morningstar, Inc. has a 12 month low of $269.51 and a 12 month high of $365.00.

Morningstar Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 3rd will be given a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Friday, October 3rd. This is an increase from Morningstar’s previous quarterly dividend of $0.41. Morningstar’s dividend payout ratio (DPR) is 24.04%.

Analyst Ratings Changes

Separately, StockNews.com raised Morningstar from a “hold” rating to a “buy” rating in a research report on Wednesday, January 15th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $360.67.

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.