Franklin Resources Inc. Lowers Position in Morningstar, Inc. (NASDAQ:MORN)

Franklin Resources Inc. cut its stake in Morningstar, Inc. (NASDAQ:MORNFree Report) by 68.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,868 shares of the business services provider’s stock after selling 6,352 shares during the quarter. Franklin Resources Inc.’s holdings in Morningstar were worth $821,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of MORN. Wellington Management Group LLP purchased a new stake in shares of Morningstar in the third quarter worth approximately $81,798,000. Norges Bank purchased a new stake in shares of Morningstar in the fourth quarter worth approximately $85,814,000. Bamco Inc. NY raised its stake in shares of Morningstar by 8.0% in the third quarter. Bamco Inc. NY now owns 1,326,608 shares of the business services provider’s stock worth $310,745,000 after purchasing an additional 98,191 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Morningstar by 3.0% during the third quarter. Vanguard Group Inc. now owns 2,552,858 shares of the business services provider’s stock valued at $597,981,000 after acquiring an additional 75,275 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Morningstar by 58.0% during the third quarter. Northern Trust Corp now owns 191,771 shares of the business services provider’s stock valued at $44,920,000 after acquiring an additional 70,428 shares during the last quarter. 57.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on MORN shares. StockNews.com raised Morningstar from a “hold” rating to a “buy” rating in a research report on Thursday, February 29th. TheStreet raised Morningstar from a “c” rating to a “b” rating in a research report on Friday, February 23rd.

Read Our Latest Report on MORN

Insider Transactions at Morningstar

In other news, Chairman Joseph D. Mansueto sold 397 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $294.77, for a total value of $117,023.69. Following the completion of the transaction, the chairman now directly owns 10,641,912 shares of the company’s stock, valued at $3,136,916,400.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director William M. Lyons sold 750 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $289.07, for a total value of $216,802.50. Following the completion of the transaction, the director now directly owns 16,590 shares of the company’s stock, valued at $4,795,671.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Joseph D. Mansueto sold 397 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $294.77, for a total value of $117,023.69. Following the completion of the transaction, the chairman now directly owns 10,641,912 shares of the company’s stock, valued at $3,136,916,400.24. The disclosure for this sale can be found here. Insiders sold 76,059 shares of company stock valued at $22,456,771 over the last three months. Company insiders own 39.90% of the company’s stock.

Morningstar Stock Performance

Shares of MORN opened at $292.57 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.66. The stock has a 50 day moving average of $297.83 and a 200 day moving average of $289.72. Morningstar, Inc. has a 12 month low of $185.15 and a 12 month high of $316.05. The company has a market capitalization of $12.51 billion, a price-to-earnings ratio of 59.11 and a beta of 1.16.

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

Morningstar Announces Dividend

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

About Morningstar

(Free Report)

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.

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Institutional Ownership by Quarter for Morningstar (NASDAQ:MORN)

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