Prudential Financial Inc. Increases Holdings in Morningstar, Inc. (NASDAQ:MORN)

Prudential Financial Inc. grew its holdings in Morningstar, Inc. (NASDAQ:MORN) by 48.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 17,353 shares of the business services provider’s stock after buying an additional 5,677 shares during the quarter. Prudential Financial Inc.’s holdings in Morningstar were worth $5,844,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Smartleaf Asset Management LLC lifted its stake in Morningstar by 178.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 78 shares of the business services provider’s stock worth $26,000 after acquiring an additional 50 shares during the period. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Morningstar in the 4th quarter worth about $28,000. R Squared Ltd bought a new stake in shares of Morningstar during the 4th quarter valued at about $40,000. V Square Quantitative Management LLC boosted its position in Morningstar by 49.5% during the 4th quarter. V Square Quantitative Management LLC now owns 139 shares of the business services provider’s stock valued at $47,000 after acquiring an additional 46 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Morningstar during the third quarter valued at approximately $58,000. 57.02% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Chairman Joseph D. Mansueto sold 9,062 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $282.25, for a total value of $2,557,749.50. Following the completion of the transaction, the chairman now directly owns 10,038,270 shares in the company, valued at $2,833,301,707.50. The trade was a 0.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders sold 59,544 shares of company stock valued at $18,770,097. Insiders own 39.90% of the company’s stock.

Morningstar Stock Performance

Morningstar stock opened at $296.11 on Monday. Morningstar, Inc. has a twelve month low of $278.64 and a twelve month high of $365.00. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $12.69 billion, a P/E ratio of 39.12 and a beta of 1.23. The stock’s 50 day moving average is $313.34 and its 200 day moving average is $328.01.

Morningstar (NASDAQ:MORN) last released its earnings results on Wednesday, February 26th. The business services provider reported $2.14 EPS for the quarter, topping 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 company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be paid a dividend of $0.455 per share. This is a positive change from Morningstar’s previous quarterly dividend of $0.41. This represents a $1.82 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date is Friday, April 4th. Morningstar’s dividend payout ratio (DPR) is currently 21.24%.

Analyst Ratings Changes

A number of research firms have issued reports on MORN. StockNews.com downgraded Morningstar from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. BMO Capital Markets decreased their price target on shares of Morningstar from $387.00 to $370.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd.

About Morningstar

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.