Boston Financial Management LLC Increases Stake in Morningstar, Inc.

Boston Financial Management LLC has raised its investment in shares of Morningstar, Inc. (NASDAQ:MORN - Free Report) by 7.0% during the fourth quarter. In its latest Form 13F filing with the Securities and Exchange Commission, the firm reported that it now holds 65,924 shares of the business services provider. This increase was achieved after acquiring an additional 4,299 shares during the period. As of the latest disclosure, Boston Financial Management LLC owns approximately 0.15% of Morningstar's shares, which are valued at $22,201,000.

Other hedge funds also participated in buying and selling shares of Morningstar. For example, Massachusetts Financial Services Co. MA increased its position in Morningstar by 9.3% in the third quarter, now holding 1,201,708 shares worth $383,489,000 after adding 102,206 shares. Similarly, Wasatch Advisors LP extended its holdings in Morningstar by 13.9%, owning 696,023 shares valued at $222,115,000 after purchasing an additional 85,098 shares last quarter.

FMR LLC increased its ownership by 10.9% in the same period, reporting 400,520 shares worth $127,814,000 after buying 39,263 more shares. DF Dent & Co. Inc. saw a significant expansion in its position by 61.3%, acquiring 88,378 shares worth about $28,203,000 by purchasing 33,595 additional shares. State Street Corp also boosted its stake by 3.7%, now owning 804,293 shares valued at $256,666,000 after buying 28,698 shares.

In total, hedge funds and other institutional investors hold about 57.02% of Morningstar's stock.

Analyst Ratings Changes

In a recent report, StockNews.com reduced its rating for Morningstar from "buy" to "hold." Currently, two analysts suggest holding the stock, while two others rate it as a buy. Data from MarketBeat indicates that Morningstar holds a consensus rating of "Moderate Buy" with an average price target of $360.67.

Insider Buying and Selling

Recent transactions by insiders include a sale by CFO Jason Dubinsky, who offloaded 3,223 shares on December 13 at an average price of $352.88, amounting to $1,137,332.24. After this transaction, Dubinsky holds 17,304 shares valued at about $6,106,235.52, reflecting a 15.70% decrease in his ownership.

Furthermore, Chairman Joseph D. Mansueto sold 1,280 shares on February 12 at an average price of $320.57, totaling $410,329.60, which indicates a 0.01% drop in his stake, leaving him with about 10,130,378 shares presently valued at approximately $3,247,495,275.46. In the last 90 days, insiders have sold a total of 23,106 shares worth about $7,878,540. Overall, insiders maintain ownership of 39.90% of the company's stock.

Morningstar Trading Activity

On the trading front, shares of Morningstar opened at $328.45 on Thursday. The company's 50-day and 200-day simple moving averages are $331.48 and $329.41, respectively. Morningstar has a market capitalization of $14.08 billion, a price-to-earnings ratio of 43.39, and a beta of 1.20. The stock reached a 12-month low of $269.51 and a high of $365.00. Financial ratios for Morningstar include a current ratio of 1.14, a quick ratio of 1.14, and a debt-to-equity ratio of 0.55.

Morningstar Increases Dividend Payout

The company has also announced a quarterly dividend of $0.455, which will be paid on Friday, October 31. This marks an increase from Morningstar's previous quarterly dividend of $0.41. The ex-dividend date is set for October 3, resulting in an annualized dividend of $1.82 and a yield of 0.55%. Morningstar's dividend payout ratio stands at 24.04%.

Company Overview

Morningstar, Inc. provides independent investment insights across various regions including the United States, Asia, Australia, Continental Europe, and the United Kingdom. The company operates five segments: Morningstar Data and Analytics, PitchBook, Morningstar Wealth, Morningstar Credit, and Morningstar Retirement.

Boston, Investment, Morningstar