Asset Management One Co. Ltd. Has $7.78 Million Stake in Morningstar, Inc. (NASDAQ:MORN)

Asset Management One Co. Ltd. cut its holdings in Morningstar, Inc. (NASDAQ:MORN - Free Report) by 16.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,113 shares of the business services provider's stock after selling 5,022 shares during the quarter. Asset Management One Co. Ltd. owned about 0.06% of Morningstar worth $7,784,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Truist Financial Corp raised its holdings in shares of Morningstar by 12.4% in the 4th quarter. Truist Financial Corp now owns 4,284 shares of the business services provider's stock worth $1,443,000 after purchasing an additional 472 shares in the last quarter. Bank of New York Mellon Corp grew its position in Morningstar by 1.8% in the fourth quarter. Bank of New York Mellon Corp now owns 288,031 shares of the business services provider's stock worth $96,997,000 after buying an additional 5,169 shares during the last quarter. Illinois Municipal Retirement Fund bought a new position in shares of Morningstar in the fourth quarter valued at $702,000. Oppenheimer Asset Management Inc. increased its holdings in shares of Morningstar by 3.1% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 13,323 shares of the business services provider's stock valued at $4,487,000 after buying an additional 399 shares in the last quarter. Finally, Oppenheimer & Co. Inc. lifted its position in shares of Morningstar by 29.4% during the 4th quarter. Oppenheimer & Co. Inc. now owns 1,073 shares of the business services provider's stock valued at $361,000 after acquiring an additional 244 shares during the last quarter. 57.02% of the stock is owned by institutional investors and hedge funds.

Morningstar Trading Up 0.8%

Morningstar stock traded up $2.47 during midday trading on Friday, reaching $313.01. The stock had a trading volume of 836,251 shares, compared to its average volume of 155,437. The firm's fifty day simple moving average is $300.52 and its two-hundred day simple moving average is $308.81. Morningstar, Inc. has a twelve month low of $250.34 and a twelve month high of $365.00. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market cap of $13.22 billion, a price-to-earnings ratio of 35.17 and a beta of 1.02.

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

Morningstar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, July 11th will be paid a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 0.58%. The ex-dividend date is Friday, July 11th. Morningstar's dividend payout ratio is currently 20.45%.

Insiders Place Their Bets

In other Morningstar news, Chairman Joseph D. Mansueto sold 5,103 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $310.08, for a total value of $1,582,338.24. Following the completion of the sale, the chairman now owns 9,437,628 shares in the company, valued at $2,926,419,690.24. This represents a 0.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Caroline J. Tsay sold 200 shares of Morningstar stock in a transaction 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 now directly owns 4,345 shares of the company's stock, valued at $1,346,254.80. This trade represents a 4.40% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 53,569 shares of company stock worth $16,333,474. 36.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

MORN has been the topic of a number of recent research reports. Wall Street Zen upgraded Morningstar from a "hold" rating to a "buy" rating in a report on Friday, May 2nd. BMO Capital Markets lifted their price target on Morningstar from $339.00 to $355.00 and gave the stock an "outperform" rating in a research note on Monday, May 12th.

About Morningstar

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.