Morningstar, Inc. (NASDAQ:MORN) Holdings Decreased by Select Equity Group L.P.

Select Equity Group L.P. cut its position in shares of Morningstar, Inc. (NASDAQ:MORN) by 6.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,434,338 shares of the business services provider’s stock after selling 160,556 shares during the quarter. Morningstar accounts for about 2.8% of Select Equity Group L.P.’s investment portfolio, making the stock its 12th largest holding. Select Equity Group L.P. owned about 5.69% of Morningstar worth $720,199,000 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 business. Millennium Management LLC grew its holdings in shares of Morningstar by 154.0% during the second quarter. Millennium Management LLC now owns 320,186 shares of the business services provider’s stock valued at $94,727,000 after purchasing an additional 194,122 shares during the last quarter. M&G Plc bought a new stake in Morningstar in the first quarter valued at $52,293,000. Wellington Management Group LLP boosted its holdings in shares of Morningstar by 45.9% during the fourth quarter. Wellington Management Group LLP now owns 509,486 shares of the business services provider’s stock valued at $145,835,000 after acquiring an additional 160,281 shares during the period. Norden Group LLC grew its position in shares of Morningstar by 3,164.9% during the first quarter. Norden Group LLC now owns 129,257 shares of the business services provider’s stock worth $39,860,000 after acquiring an additional 125,298 shares during the last quarter. Finally, Confluence Investment Management LLC acquired a new stake in shares of Morningstar in the 1st quarter worth about $20,986,000. Institutional investors and hedge funds own 57.02% of the company’s stock.

Morningstar Trading Up 0.2 %

Shares of MORN stock opened at $317.76 on Friday. Morningstar, Inc. has a 1 year low of $219.45 and a 1 year high of $330.22. The firm has a market capitalization of $13.58 billion, a PE ratio of 64.19 and a beta of 1.18. The stock has a fifty day moving average of $312.39 and a two-hundred day moving average of $303.30. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.05 and a current ratio of 1.05.

Morningstar (NASDAQ:MORN) last posted its quarterly earnings data on Wednesday, July 24th. The business services provider reported $2.01 earnings per share for the quarter. The business had revenue of $571.90 million during the quarter. Morningstar had a net margin of 11.34% and a return on equity of 22.34%.

Morningstar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be issued a dividend of $0.405 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $1.62 annualized dividend and a yield of 0.51%. Morningstar’s payout ratio is 32.73%.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets reissued an “outperform” rating and set a $352.00 target price on shares of Morningstar in a research note on Wednesday, August 28th.

Insiders Place Their Bets

In other news, Chairman Joseph D. Mansueto sold 8,056 shares of Morningstar stock in a transaction on Monday, September 9th. The stock was sold at an average price of $305.95, for a total transaction of $2,464,733.20. Following the transaction, the chairman now directly owns 10,517,257 shares in the company, valued at approximately $3,217,754,779.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Chairman Joseph D. Mansueto sold 8,056 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $305.95, for a total transaction of $2,464,733.20. Following the completion of the transaction, the chairman now owns 10,517,257 shares in the company, valued at approximately $3,217,754,779.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director William M. Lyons sold 750 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $311.60, for a total transaction of $233,700.00. Following the completion of the sale, the director now owns 14,340 shares in the company, valued at $4,468,344. The disclosure for this sale can be found here. Insiders sold 62,191 shares of company stock worth $19,182,206 over the last ninety days. Company insiders own 39.90% of the company’s stock.

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.