Fifth Third Bancorp Decreases Stock Position in Morningstar, Inc. (NASDAQ:MORN)

Fifth Third Bancorp trimmed its position in shares of Morningstar, Inc. (NASDAQ:MORNFree Report) by 11.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 417 shares of the business services provider’s stock after selling 55 shares during the quarter. Fifth Third Bancorp’s holdings in Morningstar were worth $140,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of MORN. Cottonwood Capital Advisors LLC raised its holdings in shares of Morningstar by 12.6% in the fourth quarter. Cottonwood Capital Advisors LLC now owns 1,135 shares of the business services provider’s stock worth $382,000 after buying an additional 127 shares during the period. Exchange Traded Concepts LLC grew its position in Morningstar by 2.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 2,453 shares of the business services provider’s stock valued at $826,000 after acquiring an additional 60 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in Morningstar by 5.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 3,446 shares of the business services provider’s stock worth $1,160,000 after purchasing an additional 163 shares during the period. Barlow Wealth Partners Inc. lifted its position in shares of Morningstar by 5.3% during the fourth quarter. Barlow Wealth Partners Inc. now owns 35,962 shares of the business services provider’s stock worth $11,762,000 after purchasing an additional 1,818 shares during the last quarter. Finally, Genesis Private Wealth LLC purchased a new stake in shares of Morningstar during the fourth quarter valued at $259,000. Institutional investors own 57.02% of the company’s stock.

Morningstar Trading Down 0.6 %

NASDAQ MORN opened at $328.64 on Friday. The company’s 50-day simple moving average is $339.20 and its two-hundred day simple moving average is $328.40. Morningstar, Inc. has a one year low of $269.51 and a one year high of $365.00. The company has a market capitalization of $14.09 billion, a price-to-earnings ratio of 43.41 and a beta of 1.20. 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 3rd 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, October 3rd. This represents a $1.82 dividend on an annualized basis and a yield of 0.55%. Morningstar’s payout ratio is 24.04%.

Analyst Ratings Changes

A number of brokerages recently weighed in on MORN. StockNews.com upgraded shares of Morningstar from a “hold” rating to a “buy” rating in a report on Wednesday, January 15th. UBS Group initiated coverage on shares of Morningstar in a research report on Tuesday, October 8th. They set a “buy” rating and a $390.00 target price on the stock. Finally, Redburn Atlantic cut Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 price objective on the stock. in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Morningstar presently has a consensus rating of “Moderate Buy” and a consensus target price of $360.67.

Get Our Latest Stock Report on Morningstar

Insiders Place Their Bets

In related news, Chairman Joseph D. Mansueto sold 9,062 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $348.45, for a total transaction of $3,157,653.90. Following the completion of the sale, the chairman now owns 10,808,583 shares of the company’s stock, valued at $3,766,250,746.35. This represents a 0.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Jason Dubinsky sold 3,223 shares of Morningstar stock in a transaction on Friday, December 13th. The stock was sold at an average price of $352.88, for a total transaction of $1,137,332.24. Following the completion of the transaction, the chief financial officer now directly owns 17,304 shares in the company, valued at $6,106,235.52. This represents a 15.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,849 shares of company stock worth $14,500,504 over the last 90 days. Company insiders own 39.90% of the company’s stock.

Morningstar Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding MORN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Morningstar, Inc. (NASDAQ:MORNFree Report).

Institutional Ownership by Quarter for Morningstar (NASDAQ:MORN)

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