RFG Bristol Wealth Advisors LLC Buys New Shares in Morningstar, Inc. (NASDAQ:MORN)

RFG Bristol Wealth Advisors LLC bought a new position in Morningstar, Inc. (NASDAQ:MORN) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 1,201 shares of the business services provider’s stock, valued at approximately $405,000.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Morningstar in the fourth quarter worth about $111,694,000. Premier Fund Managers Ltd bought a new position in Morningstar during the 4th quarter worth approximately $50,694,000. Wellington Management Group LLP increased its stake in Morningstar by 13.7% in the 4th quarter. Wellington Management Group LLP now owns 1,080,599 shares of the business services provider’s stock worth $363,903,000 after purchasing an additional 130,087 shares during the period. Schroder Investment Management Group bought a new stake in Morningstar in the fourth quarter valued at approximately $33,829,000. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Morningstar by 339.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 117,156 shares of the business services provider’s stock valued at $39,453,000 after purchasing an additional 90,466 shares during the period. 57.02% of the stock is owned by institutional investors.

Insider Buying and Selling at Morningstar

In other Morningstar news, Chairman Joseph D. Mansueto sold 9,062 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $326.86, for a total value of $2,962,005.32. Following the completion of the transaction, the chairman now owns 10,109,617 shares in the company, valued at approximately $3,304,429,412.62. This represents a 0.09 % 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. In the last three months, insiders have sold 59,544 shares of company stock valued at $18,770,097. 39.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently commented on MORN shares. BMO Capital Markets decreased their target price on shares of Morningstar from $387.00 to $370.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. StockNews.com cut shares of Morningstar from a “buy” rating to a “hold” rating in a research report on Wednesday, March 26th.

Morningstar Price Performance

MORN opened at $301.51 on Wednesday. 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 stock has a market capitalization of $12.92 billion, a PE ratio of 39.83 and a beta of 1.23. The stock’s 50 day moving average price is $312.20 and its 200-day moving average price is $327.89. Morningstar, Inc. has a 52-week low of $278.64 and a 52-week high of $365.00.

Morningstar (NASDAQ:MORN) last issued its quarterly earnings data on Wednesday, February 26th. The business services provider reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.15. Morningstar had a net margin of 14.69% and a return on equity of 23.28%. The business had revenue of $591.00 million for the quarter, compared to the consensus estimate of $580.81 million.

Morningstar Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 4th will be paid a $0.455 dividend. This is an increase from Morningstar’s previous quarterly dividend of $0.41. This represents a $1.82 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend is Friday, April 4th. Morningstar’s dividend payout ratio is presently 21.24%.

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.