Crossmark Global Holdings Inc. Sells 414 Shares of Morningstar, Inc. (NASDAQ:MORN)

Crossmark Global Holdings Inc. reduced its position in Morningstar, Inc. (NASDAQ:MORN) by 25.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,215 shares of the business services provider’s stock after selling 414 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Morningstar were worth $364,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Deutsche Bank AG increased its holdings in Morningstar by 2.4% in the 4th quarter. Deutsche Bank AG now owns 1,798 shares of the business services provider’s stock valued at $605,000 after buying an additional 42 shares during the period. UMB Bank n.a. increased its holdings in Morningstar by 10.5% in the 1st quarter. UMB Bank n.a. now owns 516 shares of the business services provider’s stock valued at $155,000 after buying an additional 49 shares during the period. Covestor Ltd increased its holdings in Morningstar by 14.6% in the 4th quarter. Covestor Ltd now owns 416 shares of the business services provider’s stock valued at $140,000 after buying an additional 53 shares during the period. Smith Group Asset Management LLC increased its holdings in Morningstar by 4.3% in the 1st quarter. Smith Group Asset Management LLC now owns 1,450 shares of the business services provider’s stock valued at $435,000 after buying an additional 60 shares during the period. Finally, Kensington Investment Counsel LLC increased its holdings in Morningstar by 0.6% in the 4th quarter. Kensington Investment Counsel LLC now owns 10,682 shares of the business services provider’s stock valued at $3,597,000 after buying an additional 67 shares during the period. 57.02% of the stock is owned by institutional investors.

Morningstar Trading Down 1.7%

Shares of Morningstar stock opened at $293.88 on Monday. The firm has a market capitalization of $12.42 billion, a PE ratio of 33.02 and a beta of 1.01. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50. The firm’s 50 day moving average is $305.80 and its 200 day moving average is $305.83. Morningstar, Inc. has a 1 year low of $250.34 and a 1 year high of $365.00.

Morningstar (NASDAQ:MORN) last announced its quarterly earnings results on Wednesday, April 30th. The business services provider reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.13. The company had revenue of $581.90 million for the quarter, compared to analyst estimates of $589.07 million. Morningstar had a net margin of 16.60% and a return on equity of 23.23%.

Morningstar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, July 11th will be given a dividend of $0.455 per share. The ex-dividend date is Friday, July 11th. This represents a $1.82 annualized dividend and a yield of 0.62%. Morningstar’s dividend payout ratio is presently 20.45%.

Insider Activity at Morningstar

In related news, Director Caroline J. Tsay sold 200 shares of Morningstar stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $309.84, for a total transaction of $61,968.00. Following the sale, the director directly owned 4,345 shares in the company, valued at $1,346,254.80. This trade represents a 4.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Joseph D. Mansueto sold 1,246 shares of Morningstar stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $306.52, for a total transaction of $381,923.92. Following the sale, the chairman owned 9,427,836 shares in the company, valued at approximately $2,889,820,290.72. This represents a 0.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 53,569 shares of company stock worth $16,333,474. 36.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

MORN has been the topic of several recent analyst reports. BMO Capital Markets raised their target price on shares of Morningstar from $339.00 to $355.00 and gave the company an “outperform” rating in a report on Monday, May 12th. Wall Street Zen lowered shares of Morningstar from a “buy” rating to a “hold” rating in a report on Saturday, July 5th.

Morningstar 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.