Kornitzer Capital Management Inc. KS Has $8.70 Million Stock Holdings in Morningstar, Inc. (NASDAQ:MORN)

Kornitzer Capital Management Inc. KS lessened its holdings in Morningstar, Inc. (NASDAQ:MORN) by 1.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 25,834 shares of the business services provider’s stock after selling 490 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Morningstar were worth $8,700,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in MORN. V Square Quantitative Management LLC acquired a new stake in Morningstar during the 3rd quarter worth $30,000. Venturi Wealth Management LLC grew its holdings in Morningstar by 101.7% during the 3rd 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 during the period. R Squared Ltd acquired a new stake in Morningstar during the 4th quarter worth $40,000. Farther Finance Advisors LLC grew its holdings in Morningstar by 93.6% during the 3rd 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 during the period. Finally, Point72 Hong Kong Ltd acquired a new stake in Morningstar during the 3rd quarter worth $58,000. Institutional investors and hedge funds own 57.02% of the company’s stock.

Morningstar Stock Up 1.1 %

Shares of MORN stock opened at $328.72 on Wednesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.14 and a current ratio of 1.14. The firm’s 50-day moving average is $332.66 and its 200-day moving average is $329.30. The stock has a market cap of $14.10 billion, a price-to-earnings ratio of 43.42 and a beta of 1.20. Morningstar, Inc. has a 52-week low of $269.51 and a 52-week high of $365.00.

Morningstar Increases Dividend

The business also recently declared 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. The ex-dividend date is Friday, October 3rd. This represents a $1.82 dividend on an annualized basis and a yield of 0.55%. This is a positive change from Morningstar’s previous quarterly dividend of $0.41. Morningstar’s dividend payout ratio is 24.04%.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Morningstar from a “buy” rating to a “hold” rating in a report on Monday. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $360.67.

Insider Activity at Morningstar

In other Morningstar news, Chairman Joseph D. Mansueto sold 9,062 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $355.22, for a total transaction of $3,219,003.64. Following the transaction, the chairman now owns 10,738,224 shares in the company, valued at $3,814,431,929.28. This represents a 0.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Jason Dubinsky sold 3,223 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 17,304 shares in the company, valued at approximately $6,106,235.52. The trade was a 15.70 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,106 shares of company stock worth $7,878,540. Insiders own 39.90% of the company’s stock.

About Morningstar

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.