Morningstar, Inc. (NASDAQ:MORN) Stock Position Raised by Norden Group LLC

Norden Group LLC raised its stake in shares of Morningstar, Inc. (NASDAQ:MORN) by 7.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,959 shares of the business services provider’s stock after acquiring an additional 276 shares during the quarter. Norden Group LLC’s holdings in Morningstar were worth $1,133,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Kestra Private Wealth Services LLC bought a new stake in shares of Morningstar in the fourth quarter worth about $216,000. Retirement Systems of Alabama lifted its position in Morningstar by 0.4% in the 4th quarter. Retirement Systems of Alabama now owns 32,623 shares of the business services provider’s stock worth $9,338,000 after buying an additional 135 shares during the last quarter. Alliance Wealth Advisors LLC UT increased its holdings in shares of Morningstar by 2.0% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 2,541 shares of the business services provider’s stock worth $727,000 after buying an additional 51 shares during the period. Truist Financial Corp boosted its stake in shares of Morningstar by 88.4% during the 4th quarter. Truist Financial Corp now owns 2,006 shares of the business services provider’s stock valued at $574,000 after purchasing an additional 941 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd raised its holdings in Morningstar by 137.6% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 423 shares of the business services provider’s stock worth $122,000 after purchasing an additional 245 shares in the last quarter. 57.02% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. TheStreet raised Morningstar from a “c” rating to a “b” rating in a research report on Friday, February 23rd. StockNews.com upgraded shares of Morningstar from a “hold” rating to a “buy” rating in a research report on Thursday, February 29th.

Morningstar Stock Performance

Shares of Morningstar stock traded up $0.74 during trading on Tuesday, hitting $284.57. 25,009 shares of the company’s stock were exchanged, compared to its average volume of 127,157. The business has a 50-day simple moving average of $301.32 and a 200-day simple moving average of $281.29. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 0.98. Morningstar, Inc. has a 52-week low of $178.00 and a 52-week high of $316.05. The stock has a market capitalization of $12.16 billion, a price-to-earnings ratio of 57.34 and a beta of 1.15.

Morningstar (NASDAQ:MORN) last posted its earnings results on Wednesday, April 24th. The business services provider reported $1.73 EPS for the quarter. Morningstar had a return on equity of 21.79% and a net margin of 10.13%. The company had revenue of $542.80 million for the quarter.

Morningstar Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, April 5th will be paid a $0.405 dividend. The ex-dividend date is Thursday, April 4th. This represents a $1.62 annualized dividend and a yield of 0.57%. Morningstar’s dividend payout ratio is currently 32.73%.

Insider Buying and Selling

In other Morningstar news, Chairman Joseph D. Mansueto sold 1,297 shares of Morningstar stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $307.69, for a total value of $399,073.93. Following the completion of the sale, the chairman now owns 10,775,526 shares in the company, valued at approximately $3,315,521,594.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Morningstar news, Chairman Joseph D. Mansueto sold 6,926 shares of Morningstar stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $279.39, for a total value of $1,935,055.14. Following the transaction, the chairman now directly owns 10,934,986 shares of the company’s stock, valued at approximately $3,055,125,738.54. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Joseph D. Mansueto sold 1,297 shares of Morningstar stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $307.69, for a total value of $399,073.93. Following the sale, the chairman now directly owns 10,775,526 shares in the company, valued at approximately $3,315,521,594.94. The disclosure for this sale can be found here. Insiders sold 95,544 shares of company stock valued at $27,733,515 over the last ninety days. Corporate insiders own 37.70% of the company’s stock.

Morningstar 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.