Atomi Financial Group Inc. Takes $245,000 Position in Morningstar, Inc. (NASDAQ:MORN)

Atomi Financial Group Inc. purchased a new stake in shares of Morningstar, Inc. (NASDAQ:MORN) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 729 shares of the business services provider’s stock, valued at approximately $245,000.

A number of other hedge funds have also recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new position in Morningstar in the third quarter worth $30,000. Venturi Wealth Management LLC grew its position in Morningstar by 101.7% in the third quarter. Venturi Wealth Management LLC now owns 121 shares of the business services provider’s stock worth $39,000 after acquiring an additional 61 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in Morningstar in the third quarter worth $58,000. Farther Finance Advisors LLC grew its position in Morningstar by 93.6% in the third quarter. Farther Finance Advisors LLC now owns 182 shares of the business services provider’s stock worth $58,000 after acquiring an additional 88 shares in the last quarter. Finally, Blue Trust Inc. grew its position in Morningstar by 125.2% in the third quarter. Blue Trust Inc. now owns 250 shares of the business services provider’s stock worth $74,000 after acquiring an additional 139 shares in the last quarter. 57.02% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Jason Dubinsky sold 3,223 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $352.88, for a total value of $1,137,332.24. Following the completion of the transaction, the chief financial officer now directly owns 17,304 shares of the company’s stock, valued at $6,106,235.52. This represents a 15.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director William M. Lyons sold 750 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $331.88, for a total transaction of $248,910.00. Following the completion of the transaction, the director now directly owns 12,840 shares of the company’s stock, valued at approximately $4,261,339.20. The trade was a 5.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,661 shares of company stock valued at $17,723,744. Insiders own 39.90% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on MORN. UBS Group began coverage on shares of Morningstar in a research report on Tuesday, October 8th. They issued a “buy” rating and a $390.00 target price for the company. StockNews.com raised shares of Morningstar from a “hold” rating to a “buy” rating in a research note on Wednesday, January 15th. Finally, Redburn Atlantic downgraded shares of Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 price target for the company. in a research note on Wednesday, October 9th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Morningstar presently has an average rating of “Moderate Buy” and an average price target of $360.67.

Morningstar Stock Performance

Morningstar stock opened at $328.77 on Monday. 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 $14.10 billion, a PE ratio of 43.43 and a beta of 1.20. The firm has a fifty day simple moving average of $340.03 and a two-hundred day simple moving average of $327.51. Morningstar, Inc. has a twelve month low of $269.51 and a twelve month high of $365.00.

Morningstar Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 3rd will be paid a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 0.55%. This is an increase from Morningstar’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Friday, October 3rd. Morningstar’s dividend payout ratio is 24.04%.

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.