OFI Invest Asset Management Invests $1.85 Million in Morningstar, Inc. (NASDAQ:MORN)

OFI Invest Asset Management purchased a new position in Morningstar, Inc. (NASDAQ:MORN) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 5,700 shares of the business services provider’s stock, valued at approximately $1,854,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Naviter Wealth LLC purchased a new stake in Morningstar in the fourth quarter worth $519,000. PNC Financial Services Group Inc. lifted its stake in Morningstar by 43.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,915 shares of the business services provider’s stock worth $645,000 after acquiring an additional 579 shares during the period. Bradyco Inc. purchased a new stake in Morningstar in the fourth quarter worth $1,638,000. Callan Family Office LLC purchased a new position in Morningstar during the fourth quarter valued at $263,000. Finally, Raymond James Financial Inc. purchased a new position in Morningstar during the fourth quarter valued at $16,497,000. Hedge funds and other institutional investors own 57.02% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. StockNews.com raised Morningstar from a “hold” rating to a “buy” rating in a research report on Thursday, February 27th. BMO Capital Markets lowered their price objective on Morningstar from $387.00 to $370.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd.

Insider Buying and Selling

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 completion of the sale, the chairman now directly owns 10,109,617 shares in the company, valued at approximately $3,304,429,412.62. This trade represents a 0.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jason Dubinsky sold 3,223 shares of Morningstar stock in a transaction dated 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. The trade was a 15.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 53,703 shares of company stock worth $17,349,106. 39.90% of the stock is owned by corporate insiders.

Morningstar Price Performance

Shares of NASDAQ:MORN opened at $290.65 on Monday. Morningstar, Inc. has a 1-year low of $281.37 and a 1-year high of $365.00. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.14 and a quick ratio of 1.14. The business has a fifty day moving average price of $323.48 and a 200-day moving average price of $329.78. The company has a market capitalization of $12.45 billion, a PE ratio of 38.40 and a beta of 1.23.

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

Morningstar Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 3rd will be issued a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 0.63%. This is an increase from Morningstar’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Friday, October 3rd. Morningstar’s dividend payout ratio (DPR) is presently 21.24%.

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.