Southeast Asset Advisors LLC Sells 3,643 Shares of Morningstar, Inc. (NASDAQ:MORN)

Southeast Asset Advisors LLC trimmed its holdings in shares of Morningstar, Inc. (NASDAQ:MORN) by 23.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,725 shares of the business services provider’s stock after selling 3,643 shares during the period. Southeast Asset Advisors LLC’s holdings in Morningstar were worth $3,949,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of MORN. BNP Paribas Financial Markets lifted its stake in shares of Morningstar by 16.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,983 shares of the business services provider’s stock valued at $1,909,000 after purchasing an additional 866 shares during the period. Walleye Capital LLC acquired a new position in Morningstar in the third quarter valued at about $301,000. Captrust Financial Advisors lifted its stake in Morningstar by 10.3% in the third quarter. Captrust Financial Advisors now owns 3,371 shares of the business services provider’s stock valued at $1,076,000 after buying an additional 314 shares during the period. Verition Fund Management LLC acquired a new position in shares of Morningstar during the 3rd quarter worth about $452,000. Finally, Benjamin Edwards Inc. increased its stake in shares of Morningstar by 74.5% in the 3rd quarter. Benjamin Edwards Inc. now owns 1,562 shares of the business services provider’s stock valued at $499,000 after acquiring an additional 667 shares during the last quarter. 57.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on MORN shares. BMO Capital Markets decreased their price objective on shares of Morningstar from $387.00 to $370.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. StockNews.com raised shares of Morningstar from a “hold” rating to a “buy” rating in a report on Thursday.

Insider Activity

In related news, Chairman Joseph D. Mansueto sold 9,062 shares of Morningstar stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $326.86, for a total value of $2,962,005.32. Following the sale, the chairman now owns 10,109,617 shares of the company’s stock, valued at approximately $3,304,429,412.62. The trade was a 0.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 59,544 shares of company stock worth $18,770,097 over the last ninety days. Insiders own 39.90% of the company’s stock.

Morningstar Price Performance

NASDAQ MORN opened at $268.76 on Monday. 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 cap of $11.51 billion, a price-to-earnings ratio of 35.50 and a beta of 1.16. The business has a 50 day simple moving average of $309.72 and a 200 day simple moving average of $327.24. Morningstar, Inc. has a 52-week low of $259.40 and a 52-week high of $365.00.

Morningstar (NASDAQ:MORN) last posted its quarterly earnings data on Wednesday, February 26th. The business services provider reported $2.14 EPS for the quarter, beating the consensus estimate of $1.99 by $0.15. Morningstar had a net margin of 14.69% and a return on equity of 23.28%. The business had revenue of $591.00 million for the quarter, compared to analysts’ expectations of $580.81 million.

Morningstar Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be paid a dividend of $0.455 per share. This is a boost from Morningstar’s previous quarterly dividend of $0.41. This represents a $1.82 annualized dividend and a dividend yield of 0.68%. The ex-dividend date is Friday, April 4th. Morningstar’s dividend payout ratio (DPR) is currently 21.24%.

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.