State of Alaska Department of Revenue Has $5.10 Million Position in Morningstar, Inc. (NASDAQ:MORN)

State of Alaska Department of Revenue lessened its holdings in Morningstar, Inc. (NASDAQ:MORN) by 0.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,157 shares of the business services provider’s stock after selling 45 shares during the period. State of Alaska Department of Revenue’s holdings in Morningstar were worth $5,103,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Harbor Capital Advisors Inc. lifted its stake in Morningstar by 0.7% in the 4th quarter. Harbor Capital Advisors Inc. now owns 5,626 shares of the business services provider’s stock worth $1,895,000 after acquiring an additional 37 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of Morningstar by 15.9% in the fourth quarter. Versant Capital Management Inc now owns 285 shares of the business services provider’s stock worth $96,000 after purchasing an additional 39 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Morningstar by 3.4% during the third quarter. CIBC Asset Management Inc now owns 1,259 shares of the business services provider’s stock worth $402,000 after purchasing an additional 41 shares during the period. Planning Alternatives Ltd. ADV grew its position in Morningstar by 2.2% during the third quarter. Planning Alternatives Ltd. ADV now owns 2,254 shares of the business services provider’s stock valued at $719,000 after purchasing an additional 49 shares in the last quarter. Finally, UMB Bank n.a. grew its position in Morningstar by 13.1% during the fourth quarter. UMB Bank n.a. now owns 467 shares of the business services provider’s stock valued at $157,000 after purchasing an additional 54 shares in the last quarter. Hedge funds and other institutional investors own 57.02% of the company’s stock.

Insiders Place Their Bets

In related news, Chairman Joseph D. Mansueto sold 9,062 shares of Morningstar stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $355.22, for a total value of $3,219,003.64. Following the transaction, the chairman now owns 10,738,224 shares in the company, valued at $3,814,431,929.28. This trade represents a 0.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Jason Dubinsky sold 3,223 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $352.88, for a total transaction of $1,137,332.24. Following the sale, the chief financial officer now owns 17,304 shares of the company’s stock, valued at $6,106,235.52. This trade represents a 15.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,076 shares of company stock valued at $10,103,008 over the last quarter. Insiders own 37.70% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com raised 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.com, Morningstar has an average rating of “Moderate Buy” and a consensus price target of $360.67.

Morningstar Price Performance

Shares of MORN opened at $326.34 on Friday. The firm has a market cap of $13.99 billion, a PE ratio of 43.11 and a beta of 1.20. The firm’s 50 day moving average price is $336.92 and its 200 day moving average price is $328.75. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.14 and a current ratio of 1.14. Morningstar, Inc. has a twelve month low of $269.51 and a twelve month high of $365.00.

Morningstar Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 3rd will be issued a dividend of $0.455 per share. This is a positive change from Morningstar’s previous quarterly dividend of $0.41. This represents a $1.82 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend is Friday, October 3rd. Morningstar’s dividend payout ratio (DPR) is 24.04%.

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.