RFG Bristol Wealth Advisors LLC Invests $405,000 in Morningstar, Inc. (NASDAQ:MORN)

RFG Bristol Wealth Advisors LLC acquired a new stake in Morningstar, Inc. (NASDAQ:MORN) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,201 shares of the business services provider’s stock, valued at approximately $405,000.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Morningstar by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 2,803,611 shares of the business services provider’s stock valued at $944,144,000 after purchasing an additional 51,598 shares during the period. Wellington Management Group LLP grew 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 valued at $363,903,000 after buying an additional 130,087 shares in the last quarter. State Street Corp raised its holdings in Morningstar by 3.7% during the 3rd quarter. State Street Corp now owns 804,293 shares of the business services provider’s stock valued at $256,666,000 after acquiring an additional 28,698 shares during the period. Geode Capital Management LLC raised its holdings in Morningstar by 12.9% during the 4th quarter. Geode Capital Management LLC now owns 561,431 shares of the business services provider’s stock valued at $189,116,000 after acquiring an additional 64,020 shares during the period. Finally, FMR LLC lifted its position in shares of Morningstar by 10.9% during the third quarter. FMR LLC now owns 400,520 shares of the business services provider’s stock worth $127,814,000 after acquiring an additional 39,263 shares in the last quarter. 57.02% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Morningstar Trading Up 0.5 %

Morningstar stock opened at $301.51 on Wednesday. The stock has a market cap of $12.92 billion, a P/E ratio of 39.83 and a beta of 1.23. Morningstar, Inc. has a fifty-two week low of $278.64 and a fifty-two week high of $365.00. The firm’s fifty day moving average price is $312.20 and its 200-day moving average price is $327.89. 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 (NASDAQ:MORN) last announced its earnings results on Wednesday, February 26th. The business services provider reported $2.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.15. The business had revenue of $591.00 million for the quarter, compared to analyst estimates 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 announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be given a dividend of $0.455 per share. The ex-dividend date is Friday, April 4th. 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 0.60%. Morningstar’s payout ratio is presently 21.24%.

Insiders Place Their Bets

In other Morningstar news, Chairman Joseph D. Mansueto sold 9,062 shares of Morningstar stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $282.25, for a total transaction of $2,557,749.50. Following the completion of the sale, the chairman now owns 10,038,270 shares of the company’s stock, valued at $2,833,301,707.50. The trade was a 0.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 59,544 shares of company stock valued at $18,770,097 in the last quarter. Corporate insiders own 39.90% of the company’s stock.

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.