Diversify Wealth Management LLC Acquires 576 Shares of Morningstar, Inc. (NASDAQ:MORN)

Diversify Wealth Management LLC lifted its stake in Morningstar, Inc. (NASDAQ:MORN) by 25.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 2,821 shares of the business services provider’s stock after purchasing an additional 576 shares during the period. Diversify Wealth Management LLC’s holdings in Morningstar were worth $891,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in MORN. V Square Quantitative Management LLC bought a new position in shares of Morningstar in the third quarter valued at approximately $30,000. Venturi Wealth Management LLC raised its stake in Morningstar by 101.7% in the third quarter. Venturi Wealth Management LLC now owns 121 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 61 shares in the last quarter. Farther Finance Advisors LLC lifted its position in Morningstar by 93.6% during the third quarter. Farther Finance Advisors LLC now owns 182 shares of the business services provider’s stock valued at $58,000 after purchasing an additional 88 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in Morningstar in the 3rd quarter worth approximately $58,000. Finally, Blue Trust Inc. increased its holdings 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 worth $74,000 after buying an additional 139 shares during the last quarter. 57.02% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Morningstar

In other Morningstar news, Chairman Joseph D. Mansueto sold 9,062 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $355.22, for a total transaction of $3,219,003.64. Following the transaction, the chairman now directly owns 10,738,224 shares of the company’s stock, valued at approximately $3,814,431,929.28. The trade was a 0.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William M. Lyons sold 750 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $331.88, for a total transaction of $248,910.00. Following the completion of the sale, the director now directly owns 12,840 shares of the company’s stock, valued at approximately $4,261,339.20. This represents a 5.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 51,661 shares of company stock worth $17,723,744 in the last three months. 37.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

Morningstar Stock Performance

NASDAQ MORN opened at $327.17 on Tuesday. The company has a 50-day simple moving average of $341.23 and a two-hundred day simple moving average of $326.85. Morningstar, Inc. has a 12-month low of $269.51 and a 12-month high of $365.00. The firm has a market cap of $14.03 billion, a price-to-earnings ratio of 43.22 and a beta of 1.20. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.55.

Morningstar (NASDAQ:MORN) last issued its earnings results on Wednesday, October 23rd. The business services provider reported $2.00 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.01). The company had revenue of $569.40 million for the quarter. Morningstar had a net margin of 14.69% and a return on equity of 23.28%.

Morningstar Increases Dividend

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