Morningstar, Inc. (NASDAQ:MORN) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund cut its position in shares of Morningstar, Inc. (NASDAQ:MORN) by 9.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,050 shares of the business services provider’s stock after selling 2,002 shares during the quarter. New York State Common Retirement Fund’s holdings in Morningstar were worth $5,453,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Harvest Fund Management Co. Ltd acquired a new position in Morningstar in the 3rd quarter valued at $42,000. Fifth Third Bancorp lifted its position in Morningstar by 55.2% during the third quarter. Fifth Third Bancorp now owns 194 shares of the business services provider’s stock worth $45,000 after buying an additional 69 shares during the period. Exchange Traded Concepts LLC purchased a new stake in Morningstar in the 3rd quarter valued at about $48,000. CVA Family Office LLC purchased a new position in shares of Morningstar during the 4th quarter worth about $65,000. Finally, CWM LLC grew its holdings in Morningstar by 14.1% in the fourth quarter. CWM LLC now owns 324 shares of the business services provider’s stock valued at $93,000 after purchasing an additional 40 shares during the period. Hedge funds and other institutional investors own 57.02% of the company’s stock.

Morningstar Trading Up 1.0 %

Shares of MORN stock opened at $294.03 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.98 and a debt-to-equity ratio of 0.66. Morningstar, Inc. has a fifty-two week low of $180.48 and a fifty-two week high of $316.05. The firm’s 50 day moving average price is $302.00 and its two-hundred day moving average price is $282.54. The stock has a market cap of $12.57 billion, a price-to-earnings ratio of 59.40 and a beta of 1.15.

Morningstar (NASDAQ:MORN) last issued its earnings results on Wednesday, April 24th. The business services provider reported $1.73 EPS for the quarter. Morningstar had a net margin of 10.13% and a return on equity of 21.79%. The business had revenue of $542.80 million for the quarter.

Morningstar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, April 5th were paid a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date was Thursday, April 4th. Morningstar’s dividend payout ratio is presently 32.73%.

Insider Transactions at Morningstar

In related news, Chairman Joseph D. Mansueto sold 7,470 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $277.23, for a total transaction of $2,070,908.10. Following the sale, the chairman now directly owns 10,927,151 shares in the company, valued at approximately $3,029,334,071.73. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Chairman Joseph D. Mansueto sold 7,470 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $277.23, for a total value of $2,070,908.10. Following the completion of the transaction, the chairman now directly owns 10,927,151 shares in the company, valued at $3,029,334,071.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven N. Kaplan sold 1,250 shares of Morningstar stock in a transaction on Monday, March 11th. The stock was sold at an average price of $306.81, for a total transaction of $383,512.50. Following the sale, the director now directly owns 44,427 shares in the company, valued at approximately $13,630,647.87. The disclosure for this sale can be found here. Insiders sold 96,943 shares of company stock valued at $28,185,404 over the last quarter. Company insiders own 39.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. TheStreet upgraded shares of Morningstar from a “c” rating to a “b” rating in a report on Friday, February 23rd. StockNews.com raised Morningstar from a “hold” rating to a “buy” rating in a research report on Thursday, February 29th.

Morningstar Company 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.