Marks Group Wealth Management Inc Acquires 171 Shares of Morningstar, Inc. (NASDAQ:MORN)

Marks Group Wealth Management Inc grew its holdings in Morningstar, Inc. (NASDAQ:MORN) by 0.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,261 shares of the business services provider’s stock after acquiring an additional 171 shares during the period. Marks Group Wealth Management Inc owned 0.06% of Morningstar worth $8,507,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Sanctuary Advisors LLC bought a new position in shares of Morningstar in the second quarter valued at approximately $530,000. GAMMA Investing LLC raised its stake in shares of Morningstar by 71.0% in the third quarter. GAMMA Investing LLC now owns 313 shares of the business services provider’s stock valued at $100,000 after purchasing an additional 130 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in Morningstar by 13.1% during the third quarter. Exchange Traded Concepts LLC now owns 2,393 shares of the business services provider’s stock worth $764,000 after buying an additional 278 shares in the last quarter. Cardinal Capital Management boosted its position in shares of Morningstar by 2.2% during the 3rd quarter. Cardinal Capital Management now owns 12,095 shares of the business services provider’s stock valued at $3,860,000 after acquiring an additional 256 shares in the last quarter. Finally, V Square Quantitative Management LLC acquired a new stake in Morningstar during the third quarter valued at approximately $30,000. Institutional investors and hedge funds own 57.02% of the company’s stock.

Insider Transactions at Morningstar

In other Morningstar news, Chairman Joseph D. Mansueto sold 118 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $342.13, for a total transaction of $40,371.34. Following the transaction, the chairman now owns 10,788,378 shares of the company’s stock, valued at $3,691,027,765.14. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Jason Dubinsky sold 3,223 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $352.88, for a total transaction of $1,137,332.24. Following the transaction, the chief financial officer now owns 17,304 shares in the company, valued at approximately $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. Insiders have sold a total of 20,524 shares of company stock valued at $7,049,393 over the last 90 days. 39.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Morningstar Price Performance

NASDAQ MORN opened at $321.53 on Wednesday. The stock has a market cap of $13.79 billion, a price-to-earnings ratio of 42.47 and a beta of 1.20. Morningstar, Inc. has a 52-week low of $269.51 and a 52-week high of $365.00. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.14 and a current ratio of 1.14. The business has a 50 day simple moving average of $335.77 and a 200 day simple moving average of $329.19.

Morningstar Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 3rd will be paid a $0.455 dividend. This is a boost from Morningstar’s previous quarterly dividend of $0.41. The ex-dividend date is Friday, October 3rd. This represents a $1.82 annualized dividend and a yield of 0.57%. 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.