State of New Jersey Common Pension Fund D Has $3.05 Million Stock Position in Morningstar, Inc. (NASDAQ:MORN)

State of New Jersey Common Pension Fund D lowered its stake in Morningstar, Inc. (NASDAQ:MORNGet Rating) by 4.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,374 shares of the business services provider’s stock after selling 650 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Morningstar were worth $3,052,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. BCGM Wealth Management LLC boosted its position in Morningstar by 1.3% in the second quarter. BCGM Wealth Management LLC now owns 3,648 shares of the business services provider’s stock valued at $932,000 after buying an additional 47 shares in the last quarter. Synovus Financial Corp boosted its position in Morningstar by 4.4% in the second quarter. Synovus Financial Corp now owns 1,235 shares of the business services provider’s stock valued at $289,000 after buying an additional 52 shares in the last quarter. Xponance Inc. boosted its position in Morningstar by 2.2% in the third quarter. Xponance Inc. now owns 2,705 shares of the business services provider’s stock valued at $574,000 after buying an additional 57 shares in the last quarter. Neuberger Berman Group LLC boosted its position in Morningstar by 0.6% in the first quarter. Neuberger Berman Group LLC now owns 10,501 shares of the business services provider’s stock valued at $2,868,000 after buying an additional 63 shares in the last quarter. Finally, Van ECK Associates Corp boosted its position in Morningstar by 9.8% in the third quarter. Van ECK Associates Corp now owns 728 shares of the business services provider’s stock valued at $155,000 after buying an additional 65 shares in the last quarter. Institutional investors and hedge funds own 54.79% of the company’s stock.

Insider Activity at Morningstar

In related news, Chairman Joseph D. Mansueto sold 5,400 shares of the business’s stock in a transaction on Friday, December 2nd. The shares were sold at an average price of $249.69, for a total value of $1,348,326.00. Following the transaction, the chairman now owns 12,412,078 shares in the company, valued at $3,099,171,755.82. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Morningstar news, Chairman Joseph D. Mansueto sold 10,560 shares of Morningstar stock in a transaction on Friday, November 4th. The shares were sold at an average price of $230.63, for a total value of $2,435,452.80. Following the completion of the sale, the chairman now directly owns 12,513,665 shares of the company’s stock, valued at $2,886,026,558.95. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Joseph D. Mansueto sold 5,400 shares of Morningstar stock in a transaction on Friday, December 2nd. The shares were sold at an average price of $249.69, for a total transaction of $1,348,326.00. Following the completion of the sale, the chairman now directly owns 12,412,078 shares of the company’s stock, valued at $3,099,171,755.82. The disclosure for this sale can be found here. Insiders have sold a total of 100,839 shares of company stock worth $23,279,611 over the last quarter. Company insiders own 45.70% of the company’s stock.

Morningstar Price Performance

Shares of NASDAQ:MORN opened at $240.92 on Friday. The firm has a market cap of $10.23 billion, a PE ratio of 84.53 and a beta of 1.13. The firm’s fifty day moving average is $231.32 and its 200-day moving average is $232.62. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98. Morningstar, Inc. has a 52 week low of $207.11 and a 52 week high of $298.92.

Morningstar (NASDAQ:MORNGet Rating) last released its earnings results on Wednesday, October 26th. The business services provider reported $0.77 earnings per share (EPS) for the quarter. The business had revenue of $468.20 million for the quarter. Morningstar had a net margin of 6.66% and a return on equity of 15.90%.

Morningstar Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 31st. Investors of record on Friday, January 6th will be issued a $0.375 dividend. This is a positive change from Morningstar’s previous quarterly dividend of $0.36. The ex-dividend date is Thursday, January 5th. This represents a $1.50 annualized dividend and a yield of 0.62%. Morningstar’s payout ratio is presently 52.63%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on MORN shares. Redburn Partners lowered shares of Morningstar from a “buy” rating to a “neutral” rating in a report on Wednesday. StockNews.com started coverage on shares of Morningstar in a report on Wednesday, October 12th. They set a “hold” rating on the stock.

About Morningstar

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Morningstar, Inc provides independent investment research services in North America, Europe, Australia, and Asia. The company offers web-based tools; investment data, fundamental equity and manager research, private capital markets research, credit and fund rating, and index, as well as environmental, social, and governance (ESG) rating services; and investment offerings, including managed investment products, publicly listed and private companies, fixed income securities, and real-time global market data for financial advisors, asset managers, retirement plan providers and sponsors, and individual and institutional investors.

See Also

Institutional Ownership by Quarter for Morningstar (NASDAQ:MORN)

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