Covey Capital Advisors LLC Sells 228 Shares of Morningstar, Inc. (NASDAQ:MORN)

Covey Capital Advisors LLC decreased its position in shares of Morningstar, Inc. (NASDAQ:MORN) by 8.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,607 shares of the business services provider’s stock after selling 228 shares during the period. Morningstar makes up 1.0% of Covey Capital Advisors LLC’s holdings, making the stock its 23rd biggest position. Covey Capital Advisors LLC’s holdings in Morningstar were worth $878,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in MORN. Massachusetts Financial Services Co. MA increased its position in Morningstar by 9.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,201,708 shares of the business services provider’s stock worth $383,489,000 after buying an additional 102,206 shares during the period. Wasatch Advisors LP grew its holdings in shares of Morningstar by 13.9% during the 3rd quarter. Wasatch Advisors LP now owns 696,023 shares of the business services provider’s stock worth $222,115,000 after purchasing an additional 85,098 shares in the last quarter. Boston Financial Mangement LLC acquired a new stake in shares of Morningstar during the 3rd quarter worth $19,666,000. FMR LLC grew its holdings in shares of Morningstar by 10.9% during the 3rd quarter. FMR LLC now owns 400,520 shares of the business services provider’s stock worth $127,814,000 after purchasing an additional 39,263 shares in the last quarter. Finally, DF Dent & Co. Inc. grew its holdings in shares of Morningstar by 61.3% during the 3rd quarter. DF Dent & Co. Inc. now owns 88,378 shares of the business services provider’s stock worth $28,203,000 after purchasing an additional 33,595 shares in the last quarter. Institutional investors own 57.02% of the company’s stock.

Insider Activity at Morningstar

In other news, CFO Jason Dubinsky sold 3,223 shares of Morningstar stock in a transaction dated 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 sale, the chief financial officer now directly owns 17,304 shares of the company’s stock, valued at approximately $6,106,235.52. This trade represents a 15.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Joseph D. Mansueto sold 9,062 shares of Morningstar stock in a transaction dated 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 sale, the chairman now directly owns 10,738,224 shares in the company, valued at $3,814,431,929.28. The trade was a 0.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,168 shares of company stock valued at $10,840,546 over the last ninety days. 39.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Morningstar from a “buy” rating to a “hold” rating in a report on Monday. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Morningstar currently has an average rating of “Moderate Buy” and a consensus price target of $360.67.

Morningstar Stock Performance

MORN opened at $327.11 on Friday. The business’s fifty day moving average is $330.85 and its 200-day moving average is $329.39. The firm has a market cap of $14.03 billion, a P/E ratio of 43.21 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. Morningstar, Inc. has a 52-week low of $270.44 and a 52-week high of $365.00.

Morningstar Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 3rd will be paid a $0.455 dividend. The ex-dividend date of this dividend is Friday, October 3rd. 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%. Morningstar’s dividend payout ratio (DPR) is 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.