770 Shares in Morningstar, Inc. (NASDAQ:MORN) Purchased by Genesis Private Wealth LLC

Genesis Private Wealth LLC bought a new stake in shares of Morningstar, Inc. (NASDAQ:MORN) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 770 shares of the business services provider’s stock, valued at approximately $259,000.

A number of other hedge funds have also recently modified their holdings of MORN. Massachusetts Financial Services Co. MA grew its position in 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 valued at $383,489,000 after acquiring an additional 102,206 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Morningstar by 0.5% during the third quarter. Wellington Management Group LLP now owns 950,512 shares of the business services provider’s stock valued at $303,327,000 after purchasing an additional 5,158 shares during the period. State Street Corp grew its holdings in shares of 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 purchasing an additional 28,698 shares during the last quarter. Wasatch Advisors LP increased its stake in Morningstar by 13.9% in the 3rd quarter. Wasatch Advisors LP now owns 696,023 shares of the business services provider’s stock worth $222,115,000 after buying an additional 85,098 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in 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 buying an additional 10,437 shares in the last quarter. Institutional investors own 57.02% of the company’s stock.

Morningstar Stock Up 1.1 %

NASDAQ:MORN opened at $330.91 on Wednesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.14 and a current ratio of 1.14. The stock has a market capitalization of $14.19 billion, a P/E ratio of 43.71 and a beta of 1.20. The company’s 50-day simple moving average is $341.23 and its 200-day simple moving average is $326.85. Morningstar, Inc. has a fifty-two week low of $269.51 and a fifty-two week high of $365.00.

Morningstar (NASDAQ:MORN) last released 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 net margin of 14.69% and a return on equity of 23.28%. The business had revenue of $569.40 million during the quarter.

Morningstar Increases Dividend

The company also recently disclosed 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. The ex-dividend date is Friday, October 3rd. This is a positive change from Morningstar’s previous quarterly dividend of $0.41. This represents a $1.82 dividend on an annualized basis and a dividend yield of 0.55%. Morningstar’s dividend payout ratio is currently 24.04%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other Morningstar news, CFO Jason Dubinsky sold 3,223 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 17,304 shares of the company’s stock, valued at approximately $6,106,235.52. The trade was a 15.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Joseph D. Mansueto sold 9,062 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $355.22, for a total transaction of $3,219,003.64. Following the sale, the chairman now directly owns 10,738,224 shares in the company, valued at $3,814,431,929.28. This trade represents a 0.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 51,661 shares of company stock valued at $17,723,744 over the last quarter. 37.70% of the stock is currently owned by company insiders.

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.