Algert Global LLC Purchases 11,577 Shares of Morningstar, Inc. (NASDAQ:MORN)

Algert Global LLC lifted its position in shares of Morningstar, Inc. (NASDAQ:MORN) by 45.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,086 shares of the business services provider’s stock after buying an additional 11,577 shares during the quarter. Algert Global LLC owned about 0.09% of Morningstar worth $12,489,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of MORN. Smartleaf Asset Management LLC grew its holdings in Morningstar by 178.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 78 shares of the business services provider’s stock worth $26,000 after acquiring an additional 50 shares during the period. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of Morningstar during the 4th quarter valued at about $28,000. R Squared Ltd acquired a new stake in Morningstar during the fourth quarter worth approximately $40,000. V Square Quantitative Management LLC increased its holdings in Morningstar by 49.5% in the fourth quarter. V Square Quantitative Management LLC now owns 139 shares of the business services provider’s stock worth $47,000 after purchasing an additional 46 shares in the last quarter. Finally, Johnson Financial Group Inc. acquired a new position in Morningstar in the fourth quarter valued at approximately $71,000. Institutional investors own 57.02% of the company’s stock.

Insider Activity

In related news, Chairman Joseph D. Mansueto sold 1,716 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $327.89, for a total transaction of $562,659.24. Following the transaction, the chairman now directly owns 10,151,120 shares in the company, valued at approximately $3,328,450,736.80. The trade was a 0.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 59,544 shares of company stock worth $18,770,097 over the last 90 days. 36.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on MORN shares. BMO Capital Markets lowered their price objective on shares of Morningstar from $387.00 to $370.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. StockNews.com raised shares of Morningstar from a “hold” rating to a “buy” rating in a research note on Friday.

Morningstar Stock Performance

NASDAQ MORN opened at $293.19 on Friday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.55. The company has a fifty day simple moving average of $287.40 and a 200 day simple moving average of $319.54. Morningstar, Inc. has a 12-month low of $250.34 and a 12-month high of $365.00. The company has a market cap of $12.56 billion, a P/E ratio of 38.73 and a beta of 1.16.

Morningstar (NASDAQ:MORN) last posted its earnings results on Wednesday, April 30th. The business services provider reported $2.23 EPS for the quarter, topping the consensus estimate of $2.10 by $0.13. Morningstar had a net margin of 14.69% and a return on equity of 23.28%. The company had revenue of $581.90 million during the quarter, compared to the consensus estimate of $589.07 million.

Morningstar Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th were paid a $0.455 dividend. The ex-dividend date of this dividend was Friday, April 4th. This is an increase from Morningstar’s previous quarterly dividend of $0.41. This represents a $1.82 annualized dividend and a dividend yield of 0.62%. Morningstar’s dividend payout ratio is 21.24%.

About Morningstar

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.