Redmond Asset Management LLC Has $2.54 Million Stock Position in Morningstar, Inc. (NASDAQ:MORN)

Redmond Asset Management LLC cut its holdings in Morningstar, Inc. (NASDAQ:MORN) by 1.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,528 shares of the business services provider’s stock after selling 112 shares during the quarter. Redmond Asset Management LLC’s holdings in Morningstar were worth $2,535,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of MORN. Blue Trust Inc. lifted its stake in shares of Morningstar by 125.2% in the 3rd quarter. Blue Trust Inc. now owns 250 shares of the business services provider’s stock valued at $74,000 after purchasing an additional 139 shares during the last quarter. Louisiana State Employees Retirement System lifted its position in shares of Morningstar by 1.4% in the third quarter. Louisiana State Employees Retirement System now owns 7,500 shares of the business services provider’s stock worth $2,393,000 after buying an additional 100 shares during the last quarter. State of Alaska Department of Revenue lifted its position in shares of Morningstar by 2.1% in the third quarter. State of Alaska Department of Revenue now owns 15,202 shares of the business services provider’s stock worth $4,850,000 after buying an additional 315 shares during the last quarter. Boston Financial Mangement LLC acquired a new stake in Morningstar in the 3rd quarter worth approximately $19,666,000. Finally, Diversify Wealth Management LLC lifted its holdings in Morningstar by 6.8% in the 3rd quarter. Diversify Wealth Management LLC now owns 2,245 shares of the business services provider’s stock worth $767,000 after purchasing an additional 143 shares during the last quarter. Institutional investors and hedge funds own 57.02% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Morningstar from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $360.67.

Insider Buying and Selling at Morningstar

In other Morningstar news, Chairman Joseph D. Mansueto sold 1,716 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $327.89, for a total value of $562,659.24. Following the completion of the sale, the chairman now owns 10,151,120 shares in the company, valued at approximately $3,328,450,736.80. This trade represents a 0.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jason Dubinsky sold 3,223 shares of the firm’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 sale, the chief financial officer now owns 17,304 shares of the company’s stock, valued at $6,106,235.52. This represents a 15.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,168 shares of company stock valued at $10,840,546 in the last ninety days. Company insiders own 39.90% of the company’s stock.

Morningstar Trading Down 1.4 %

Shares of Morningstar stock opened at $322.38 on Friday. Morningstar, Inc. has a 1 year low of $273.56 and a 1 year high of $365.00. The company’s fifty day simple moving average is $330.85 and its 200-day simple moving average is $329.39. The company has a market cap of $13.82 billion, a price-to-earnings ratio of 42.59 and a beta of 1.20. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.55.

Morningstar Increases Dividend

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

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.