Marks Group Wealth Management Inc Sells 214 Shares of Morningstar, Inc. (NASDAQ:MORN)

Marks Group Wealth Management Inc trimmed its position in shares of Morningstar, Inc. (NASDAQ:MORN) by 0.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,024 shares of the business services provider’s stock after selling 214 shares during the period. Marks Group Wealth Management Inc owned about 0.06% of Morningstar worth $6,877,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Harvest Fund Management Co. Ltd bought a new position in Morningstar in the third quarter worth about $42,000. Fifth Third Bancorp raised its stake in Morningstar by 55.2% in the third quarter. Fifth Third Bancorp now owns 194 shares of the business services provider’s stock worth $45,000 after buying an additional 69 shares in the last quarter. Exchange Traded Concepts LLC bought a new position in Morningstar in the third quarter worth about $48,000. Harbor Investment Advisory LLC bought a new position in Morningstar in the third quarter worth about $52,000. Finally, CVA Family Office LLC bought a new position in Morningstar in the fourth quarter worth about $65,000. 57.02% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Steven N. Kaplan sold 1,250 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $306.81, for a total transaction of $383,512.50. Following the sale, the director now owns 44,427 shares in the company, valued at $13,630,647.87. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, Director Steven N. Kaplan sold 1,250 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $306.81, for a total value of $383,512.50. Following the sale, the director now owns 44,427 shares in the company, valued at $13,630,647.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Joseph D. Mansueto sold 1,297 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $307.69, for a total transaction of $399,073.93. Following the completion of the sale, the chairman now owns 10,775,526 shares in the company, valued at approximately $3,315,521,594.94. The disclosure for this sale can be found here. Insiders have sold a total of 95,544 shares of company stock worth $27,733,515 over the last 90 days. 37.70% of the stock is currently owned by insiders.

Morningstar Price Performance

Shares of NASDAQ MORN opened at $300.41 on Wednesday. Morningstar, Inc. has a fifty-two week low of $163.28 and a fifty-two week high of $316.05. The company has a 50 day simple moving average of $300.18 and a two-hundred day simple moving average of $279.68. The company has a market capitalization of $12.84 billion, a price-to-earnings ratio of 91.59 and a beta of 1.15. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.93 and a current ratio of 0.93.

Morningstar (NASDAQ:MORN) last posted its quarterly earnings results on Thursday, February 22nd. The business services provider reported $1.97 EPS for the quarter. Morningstar had a net margin of 6.92% and a return on equity of 18.54%. The firm had revenue of $538.70 million for the quarter.

Morningstar Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, April 5th will be issued a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date is Thursday, April 4th. Morningstar’s payout ratio is 49.39%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. StockNews.com raised shares of Morningstar from a “hold” rating to a “buy” rating in a research note on Thursday, February 29th. TheStreet raised shares of Morningstar from a “c” rating to a “b” rating in a research note on Friday, February 23rd.

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.