Morningstar, Inc. (NASDAQ:MORN) Shares Acquired by Empire Life Investments Inc.

Empire Life Investments Inc. boosted its position in shares of Morningstar, Inc. (NASDAQ:MORN) by 0.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,806 shares of the business services provider’s stock after purchasing an additional 56 shares during the period. Empire Life Investments Inc.’s holdings in Morningstar were worth $2,292,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new stake in Morningstar during the 3rd quarter valued at $30,000. R Squared Ltd acquired a new stake in Morningstar during the 4th quarter valued at $40,000. Venturi Wealth Management LLC grew its holdings in Morningstar by 101.7% during the 3rd 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. Point72 Hong Kong Ltd acquired a new stake in Morningstar during the 3rd quarter valued at $58,000. Finally, Farther Finance Advisors LLC boosted its stake in Morningstar by 93.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 182 shares of the business services provider’s stock valued at $58,000 after acquiring an additional 88 shares during the last quarter. 57.02% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Morningstar from a “hold” rating to a “buy” rating in a research note on Wednesday, January 15th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $360.67.

Insider Transactions at Morningstar

In related news, CFO Jason Dubinsky sold 3,223 shares of Morningstar stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $352.88, for a total value of $1,137,332.24. Following the sale, the chief financial officer now directly owns 17,304 shares in the company, valued at $6,106,235.52. This trade represents a 15.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Joseph D. Mansueto sold 1,280 shares of Morningstar stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $320.57, for a total transaction of $410,329.60. Following the completion of the sale, the chairman now owns 10,130,378 shares in the company, valued at approximately $3,247,495,275.46. This represents a 0.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,381 shares of company stock worth $7,971,125. 39.90% of the stock is currently owned by insiders.

Morningstar Trading Down 1.1 %

NASDAQ MORN opened at $325.02 on Friday. Morningstar, Inc. has a 12 month low of $269.51 and a 12 month 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 company has a market capitalization of $13.94 billion, a price-to-earnings ratio of 42.94 and a beta of 1.20. The company’s fifty day moving average price is $333.94 and its two-hundred day moving average price is $329.09.

Morningstar Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 3rd will be given a $0.455 dividend. This is an increase from Morningstar’s previous quarterly dividend of $0.41. This represents a $1.82 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend is Friday, October 3rd. Morningstar’s dividend payout ratio (DPR) 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.