Fox Run Management L.L.C. Raises Stock Position in Morningstar, Inc. (NASDAQ:MORN)

Fox Run Management L.L.C. lifted its holdings in Morningstar, Inc. (NASDAQ:MORN) by 228.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,811 shares of the business services provider’s stock after purchasing an additional 3,346 shares during the period. Fox Run Management L.L.C.’s holdings in Morningstar were worth $1,620,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its stake in shares of Morningstar by 2.1% in the third quarter. Geode Capital Management LLC now owns 497,411 shares of the business services provider’s stock worth $158,772,000 after acquiring an additional 10,437 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Morningstar by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 191,765 shares of the business services provider’s stock worth $61,196,000 after purchasing an additional 5,045 shares in the last quarter. Victory Capital Management Inc. grew its stake in Morningstar by 12.7% during the 3rd quarter. Victory Capital Management Inc. now owns 15,843 shares of the business services provider’s stock worth $5,056,000 after purchasing an additional 1,789 shares in the last quarter. Quantbot Technologies LP increased its holdings in Morningstar by 259.3% during the 3rd quarter. Quantbot Technologies LP now owns 13,769 shares of the business services provider’s stock worth $4,394,000 after purchasing an additional 9,937 shares during the period. Finally, Smith Group Asset Management LLC acquired a new stake in Morningstar in the 4th quarter valued at about $468,000. 57.02% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Morningstar

In other Morningstar news, Chairman Joseph D. Mansueto sold 1,716 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $327.89, for a total value of $562,659.24. Following the completion of the transaction, the chairman now owns 10,151,120 shares in the company, valued at $3,328,450,736.80. This represents a 0.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold 59,544 shares of company stock valued at $18,770,097 in the last ninety days. Insiders own 39.90% of the company’s stock.

Morningstar Stock Up 0.8 %

Shares of NASDAQ MORN opened at $298.12 on Friday. The business has a 50-day moving average of $315.72 and a two-hundred day moving average of $327.99. The company has a market capitalization of $12.77 billion, a price-to-earnings ratio of 39.38 and a beta of 1.23. Morningstar, Inc. has a 1 year low of $278.64 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.

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

Morningstar Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be issued a $0.455 dividend. This is a boost from Morningstar’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Friday, April 4th. This represents a $1.82 annualized dividend and a dividend yield of 0.61%. Morningstar’s dividend payout ratio is presently 21.24%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. StockNews.com downgraded Morningstar from a “buy” rating to a “hold” rating in a research report on Monday, March 17th. BMO Capital Markets dropped their price objective on shares of Morningstar from $387.00 to $370.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd.

Morningstar Company 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.