Redmond Asset Management LLC Reduces Holdings in Morningstar, Inc. (NASDAQ:MORN)

Redmond Asset Management LLC cut its position in Morningstar, Inc. (NASDAQ:MORN) by 1.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,528 shares of the business services provider’s stock after selling 112 shares during the quarter. Redmond Asset Management LLC’s holdings in Morningstar were worth $2,535,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in MORN. R Squared Ltd acquired a new position in shares of Morningstar in the fourth quarter worth about $40,000. Venturi Wealth Management LLC raised its holdings in Morningstar by 101.7% in the third quarter. Venturi Wealth Management LLC now owns 121 shares of the business services provider’s stock valued at $39,000 after acquiring an additional 61 shares in the last quarter. V Square Quantitative Management LLC raised its stake in shares of Morningstar by 49.5% in the 4th quarter. V Square Quantitative Management LLC now owns 139 shares of the business services provider’s stock valued at $47,000 after purchasing an additional 46 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in Morningstar during the 3rd quarter worth approximately $58,000. Finally, Farther Finance Advisors LLC increased its holdings in shares of Morningstar by 93.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 182 shares of the business services provider’s stock valued at $58,000 after acquiring an additional 88 shares during the last quarter. 57.02% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Morningstar

In related news, CFO Jason Dubinsky sold 3,223 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $352.88, for a total value of $1,137,332.24. Following the completion of the transaction, the chief financial officer now 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Joseph D. Mansueto sold 9,062 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $355.22, for a total value of $3,219,003.64. Following the completion of the sale, the chairman now directly owns 10,738,224 shares of the company’s stock, valued at approximately $3,814,431,929.28. This trade represents a 0.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,168 shares of company stock valued at $10,840,546 in the last three months. 39.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Morningstar from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $360.67.

Morningstar Stock Performance

NASDAQ:MORN opened at $322.38 on Friday. The firm has a market cap of $13.82 billion, a price-to-earnings ratio of 42.59 and a beta of 1.20. Morningstar, Inc. has a twelve month low of $273.56 and a twelve month high of $365.00. 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 50-day moving average of $330.85 and a 200-day moving average of $329.39.

Morningstar Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 3rd will be paid a dividend of $0.455 per share. 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 dividend yield of 0.56%. Morningstar’s dividend payout ratio (DPR) is currently 24.04%.

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.