Allspring Global Investments Holdings LLC Trims Stock Position in Morningstar, Inc. (NASDAQ:MORN)

Allspring Global Investments Holdings LLC decreased its position in shares of Morningstar, Inc. (NASDAQ:MORN) by 0.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 272,951 shares of the business services provider’s stock after selling 447 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Morningstar were worth $90,748,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Sanctuary Advisors LLC purchased a new position in shares of Morningstar during the second quarter worth approximately $530,000. Exchange Traded Concepts LLC boosted its stake in Morningstar by 13.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 2,393 shares of the business services provider’s stock worth $764,000 after purchasing an additional 278 shares during the period. Cardinal Capital Management grew its position in Morningstar by 2.2% during the 3rd quarter. Cardinal Capital Management now owns 12,095 shares of the business services provider’s stock worth $3,860,000 after purchasing an additional 256 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Morningstar in the third quarter valued at about $30,000. Finally, Blue Trust Inc. boosted its stake in shares of Morningstar by 125.2% during the third quarter. Blue Trust Inc. now owns 250 shares of the business services provider’s stock worth $74,000 after buying an additional 139 shares during the period. Institutional investors and hedge funds own 57.02% of the company’s stock.

Wall Street Analyst Weigh In

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

Morningstar Stock Performance

Shares of MORN opened at $320.26 on Thursday. Morningstar, Inc. has a 1 year low of $269.51 and a 1 year high of $365.00. The stock has a market capitalization of $13.73 billion, a P/E ratio of 42.31 and a beta of 1.20. 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 company’s fifty day moving average is $335.18 and its two-hundred day moving average is $329.16.

Morningstar Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 3rd will be issued a dividend of $0.455 per share. This is a boost from Morningstar’s previous quarterly dividend of $0.41. This represents a $1.82 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend is Friday, October 3rd. Morningstar’s dividend payout ratio is currently 24.04%.

Insider Buying and Selling at Morningstar

In other Morningstar news, Chairman Joseph D. Mansueto sold 118 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $342.13, for a total value of $40,371.34. Following the completion of the transaction, the chairman now directly owns 10,788,378 shares of the company’s stock, valued at approximately $3,691,027,765.14. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Jason Dubinsky sold 3,223 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,219 shares of company stock valued at $7,601,166. 39.90% of the stock is owned by corporate insiders.

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.