Morningstar, Inc. (NASDAQ:MORN) Shares Sold by Millennium Management LLC

Millennium Management LLC lessened its stake in shares of Morningstar, Inc. (NASDAQ:MORN) by 41.9% in the 4th quarter, Holdings Channel reports. The firm owned 287,658 shares of the business services provider’s stock after selling 207,448 shares during the period. Millennium Management LLC’s holdings in Morningstar were worth $96,872,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Morningstar by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 2,803,611 shares of the business services provider’s stock valued at $944,144,000 after acquiring an additional 51,598 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Morningstar by 13.7% during the fourth quarter. Wellington Management Group LLP now owns 1,080,599 shares of the business services provider’s stock worth $363,903,000 after purchasing an additional 130,087 shares in the last quarter. Geode Capital Management LLC raised its stake in Morningstar by 12.9% in the 4th quarter. Geode Capital Management LLC now owns 561,431 shares of the business services provider’s stock valued at $189,116,000 after purchasing an additional 64,020 shares during the last quarter. Norges Bank acquired a new stake in Morningstar during the 4th quarter worth $111,694,000. Finally, Dimensional Fund Advisors LP raised its position in shares of Morningstar by 4.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 305,014 shares of the business services provider’s stock valued at $102,719,000 after buying an additional 13,155 shares during the last quarter. 57.02% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on MORN. StockNews.com raised shares of Morningstar from a “hold” rating to a “buy” rating in a research note on Friday, May 2nd. BMO Capital Markets boosted their price objective on Morningstar from $339.00 to $355.00 and gave the stock an “outperform” rating in a research note on Monday.

Morningstar Stock Performance

Morningstar stock opened at $306.41 on Thursday. The firm has a 50 day simple moving average of $286.98 and a 200-day simple moving average of $317.60. The stock has a market cap of $12.95 billion, a price-to-earnings ratio of 40.48 and a beta of 0.99. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.14 and a quick ratio of 1.14. Morningstar, Inc. has a 1-year low of $250.34 and a 1-year high of $365.00.

Morningstar (NASDAQ:MORN) last issued its quarterly earnings data on Wednesday, April 30th. The business services provider reported $2.23 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.13. Morningstar had a return on equity of 23.28% and a net margin of 14.69%. The company had revenue of $581.90 million during the quarter, compared to analyst estimates of $589.07 million.

Morningstar Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th were given a $0.455 dividend. The ex-dividend date of this dividend was Friday, April 4th. This represents a $1.82 dividend on an annualized basis and a yield of 0.59%. This is a boost from Morningstar’s previous quarterly dividend of $0.41. Morningstar’s dividend payout ratio is presently 20.45%.

Insiders Place Their Bets

In related news, Chairman Joseph D. Mansueto sold 9,062 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $282.25, for a total value of $2,557,749.50. Following the sale, the chairman now owns 10,038,270 shares in the company, valued at approximately $2,833,301,707.50. The trade was a 0.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 63,223 shares of company stock valued at $19,542,793 over the last 90 days. 36.20% of the stock is 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.