Russell Investments Group Ltd. Sells 4,051 Shares of Morningstar, Inc. (NASDAQ:MORN)

Russell Investments Group Ltd. cut its holdings in shares of Morningstar, Inc. (NASDAQ:MORN) by 15.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,331 shares of the business services provider’s stock after selling 4,051 shares during the quarter. Russell Investments Group Ltd.’s holdings in Morningstar were worth $6,392,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Raymond James & Associates raised its holdings in shares of Morningstar by 0.7% in the 3rd quarter. Raymond James & Associates now owns 18,690 shares of the business services provider’s stock valued at $4,378,000 after acquiring an additional 128 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Morningstar by 43.2% in the third quarter. Bank of New York Mellon Corp now owns 389,627 shares of the business services provider’s stock worth $91,266,000 after acquiring an additional 117,514 shares during the period. New York State Teachers Retirement System bought a new stake in shares of Morningstar during the 3rd quarter valued at about $1,312,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Morningstar by 14.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,065 shares of the business services provider’s stock valued at $1,186,000 after acquiring an additional 650 shares in the last quarter. Finally, Park Avenue Securities LLC purchased a new stake in Morningstar in the third quarter worth $279,000. Institutional investors own 57.02% of the company’s stock.

Morningstar Trading Down 1.3 %

Shares of Morningstar stock opened at $295.94 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market cap of $12.65 billion, a P/E ratio of 59.79 and a beta of 1.15. The firm has a 50-day simple moving average of $302.10 and a two-hundred day simple moving average of $284.04. Morningstar, Inc. has a fifty-two week low of $185.10 and a fifty-two week high of $316.05.

Morningstar (NASDAQ:MORN) last released its earnings results on Wednesday, April 24th. The business services provider reported $1.73 earnings per share 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 Dividend Announcement

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

Insider Activity

In related news, Chairman Joseph D. Mansueto sold 7,481 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $282.08, for a total value of $2,110,240.48. Following the completion of the transaction, the chairman now directly owns 10,908,710 shares of the company’s stock, valued at $3,077,128,916.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Chairman Joseph D. Mansueto sold 7,481 shares of Morningstar stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $282.08, for a total value of $2,110,240.48. Following the sale, the chairman now owns 10,908,710 shares of the company’s stock, valued at $3,077,128,916.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Joseph D. Mansueto sold 8,993 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $275.94, for a total value of $2,481,528.42. Following the transaction, the chairman now owns 10,899,717 shares in the company, valued at approximately $3,007,667,908.98. The disclosure for this sale can be found here. In the last quarter, insiders sold 105,913 shares of company stock worth $30,983,090. 37.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

MORN has been the subject of several analyst reports. TheStreet upgraded 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 note 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.