Summit Investment Advisors Inc. Sells 135 Shares of Morningstar, Inc. (NASDAQ:MORN)

Summit Investment Advisors Inc. lessened its holdings in Morningstar, Inc. (NASDAQ:MORN) by 2.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,411 shares of the business services provider’s stock after selling 135 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Morningstar were worth $1,822,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of MORN. Vanguard Group Inc. raised its stake in Morningstar by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 2,803,611 shares of the business services provider’s stock worth $944,144,000 after purchasing an additional 51,598 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Morningstar by 13.7% in the fourth quarter. Wellington Management Group LLP now owns 1,080,599 shares of the business services provider’s stock valued at $363,903,000 after buying an additional 130,087 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Morningstar by 12.9% in the fourth quarter. Geode Capital Management LLC now owns 561,431 shares of the business services provider’s stock valued at $189,116,000 after buying an additional 64,020 shares during the period. Norges Bank acquired a new stake in Morningstar during the fourth quarter worth approximately $111,694,000. Finally, Bank of New York Mellon Corp increased its stake in Morningstar by 1.8% during the 4th quarter. Bank of New York Mellon Corp now owns 288,031 shares of the business services provider’s stock worth $96,997,000 after acquiring an additional 5,169 shares during the period. 57.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MORN. BMO Capital Markets reduced their target price on Morningstar from $387.00 to $370.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. StockNews.com downgraded shares of Morningstar from a “buy” rating to a “hold” rating in a research note on Friday, April 11th.

Insider Buying and Selling at Morningstar

In other Morningstar news, Chairman Joseph D. Mansueto sold 1,716 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $327.89, for a total value of $562,659.24. Following the completion of the transaction, the chairman now directly owns 10,151,120 shares in the company, valued at approximately $3,328,450,736.80. This trade represents a 0.02 % 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. Insiders have sold 59,544 shares of company stock worth $18,770,097 over the last quarter. Corporate insiders own 39.90% of the company’s stock.

Morningstar Trading Up 0.5 %

Shares of MORN stock opened at $284.24 on Wednesday. Morningstar, Inc. has a fifty-two week low of $250.34 and a fifty-two week high of $365.00. The stock’s fifty day moving average price is $299.36 and its two-hundred day moving average price is $324.08. 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 has a market cap of $12.17 billion, a PE ratio of 37.55 and a beta of 1.16.

Morningstar (NASDAQ:MORN) last released its earnings results 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. The firm had revenue of $591.00 million for the quarter, compared to analysts’ expectations of $580.81 million. Morningstar had a return on equity of 23.28% and a net margin of 14.69%.

Morningstar Increases Dividend

The business also recently disclosed 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. The ex-dividend date is Friday, April 4th. This represents a $1.82 annualized dividend and a yield of 0.64%. Morningstar’s dividend payout ratio is presently 21.24%.

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.