Equitable Trust Co. Invests $446,000 in Morningstar, Inc. (NASDAQ:MORN)

Equitable Trust Co. purchased a new position in Morningstar, Inc. (NASDAQ:MORNFree Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,905 shares of the business services provider’s stock, valued at approximately $446,000.

Several other institutional investors also recently added to or reduced their stakes in MORN. Allworth Financial LP increased its stake in Morningstar by 90.1% in the 2nd quarter. Allworth Financial LP now owns 135 shares of the business services provider’s stock worth $26,000 after buying an additional 64 shares during the period. Meeder Asset Management Inc. increased its position in Morningstar by 7,500.0% during the 4th quarter. Meeder Asset Management Inc. now owns 152 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 150 shares during the period. First Horizon Advisors Inc. increased its position in Morningstar by 60.2% during the 2nd quarter. First Horizon Advisors Inc. now owns 173 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 65 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in Morningstar during the 3rd quarter valued at about $42,000. Finally, Fifth Third Bancorp increased its position in Morningstar by 55.2% during the 3rd quarter. Fifth Third Bancorp now owns 194 shares of the business services provider’s stock valued at $45,000 after purchasing an additional 69 shares during the period. Hedge funds and other institutional investors own 57.02% of the company’s stock.

Insider Buying and Selling at Morningstar

In other Morningstar news, Director Robin Diamonte sold 400 shares of Morningstar stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $268.91, for a total transaction of $107,564.00. Following the completion of the sale, the director now directly owns 8,935 shares in the company, valued at approximately $2,402,710.85. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Robin Diamonte sold 400 shares of Morningstar stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $268.91, for a total transaction of $107,564.00. Following the completion of the transaction, the director now directly owns 8,935 shares of the company’s stock, valued at approximately $2,402,710.85. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Joseph D. Mansueto sold 6,726 shares of the business’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $262.05, for a total transaction of $1,762,548.30. Following the completion of the sale, the chairman now directly owns 11,456,472 shares of the company’s stock, valued at approximately $3,002,168,487.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 101,244 shares of company stock worth $27,217,894. Company insiders own 39.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Redburn Atlantic raised shares of Morningstar from a “neutral” rating to an “overweight” rating and set a $320.00 target price on the stock in a research report on Monday, October 30th. StockNews.com raised shares of Morningstar from a “hold” rating to a “buy” rating in a research report on Saturday.

Read Our Latest Stock Report on Morningstar

Morningstar Stock Up 1.1 %

MORN stock opened at $281.67 on Wednesday. The firm has a 50 day moving average of $279.36 and a 200 day moving average of $251.53. The stock has a market capitalization of $12.03 billion, a PE ratio of 170.71 and a beta of 1.16. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.82. Morningstar, Inc. has a 52 week low of $163.28 and a 52 week high of $289.17.

Morningstar Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, January 5th will be paid a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 0.58%. This is a boost from Morningstar’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Thursday, January 4th. Morningstar’s payout ratio is presently 98.18%.

Morningstar Company Profile

(Free Report)

Morningstar, Inc provides independent investment insights in the United States, Canada, Asia, Australia, Europe, the United Kingdom, and internationally. The company provides investment data, fundamental equity and manager research, private capital markets research, credit and fund rating, and index; environmental, social, and governance (ESG) rating, as well as indexes directly on its proprietary desktop or web-based software platforms, or through subscriptions, data feeds, and third-party distributors; and investment offerings, including managed investment products, publicly listed and private companies, fixed income securities, private credit, and bank loans.

See Also

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Institutional Ownership by Quarter for Morningstar (NASDAQ:MORN)

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