Vanguard Group Inc. reduced its position in Morningstar, Inc. (NASDAQ:MORN - Free Report) by 5.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,660,458 shares of the business services provider's stock after selling 143,153 shares during the period. Vanguard Group Inc. owned about 6.21% of Morningstar worth $797,792,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hughes Financial Services LLC purchased a new stake in Morningstar in the 1st quarter worth approximately $25,000. Larson Financial Group LLC grew its stake in Morningstar by 5,066.7% in the 1st quarter. Larson Financial Group LLC now owns 155 shares of the business services provider's stock worth $46,000 after acquiring an additional 152 shares during the period. Blue Trust Inc. grew its stake in Morningstar by 172.3% in the 1st quarter. Blue Trust Inc. now owns 177 shares of the business services provider's stock worth $53,000 after acquiring an additional 112 shares during the period. Johnson Financial Group Inc. purchased a new stake in Morningstar in the 4th quarter worth approximately $71,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Morningstar during the 1st quarter valued at $95,000. 57.02% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other Morningstar news, Chairman Joseph D. Mansueto sold 7,250 shares of the business's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $309.86, for a total value of $2,246,485.00. Following the transaction, the chairman owned 9,442,731 shares in the company, valued at $2,925,924,627.66. The trade was a 0.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last quarter, insiders have sold 65,750 shares of company stock valued at $18,257,730. Insiders own 36.20% of the company's stock.
Morningstar Stock Down 0.2%
Morningstar stock traded down $0.45 during trading on Friday, reaching $258.63. 292,433 shares of the company's stock were exchanged, compared to its average volume of 351,685. The company's 50-day moving average is $289.66 and its two-hundred day moving average is $296.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.13 and a current ratio of 1.13. Morningstar, Inc. has a 52-week low of $250.34 and a 52-week high of $365.00. The firm has a market cap of $10.91 billion, a price-to-earnings ratio of 27.54 and a beta of 0.96.
Morningstar (NASDAQ:MORN - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The business services provider reported $2.40 earnings per share for the quarter, topping analysts' consensus estimates of $2.21 by $0.19. Morningstar had a net margin of 17.22% and a return on equity of 23.54%. The firm had revenue of $605.10 million during the quarter, compared to analysts' expectations of $605.84 million.
Morningstar Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Friday, July 11th were issued a $0.455 dividend. The ex-dividend date was Friday, July 11th. This represents a $1.82 dividend on an annualized basis and a yield of 0.7%. Morningstar's payout ratio is currently 19.38%.
Analysts Set New Price Targets
MORN has been the subject of several research reports. Wall Street Zen cut shares of Morningstar from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. BMO Capital Markets boosted their price objective on shares of Morningstar from $339.00 to $355.00 and gave the company an "outperform" rating in a research note on Monday, May 12th.
Read Our Latest Stock Report on Morningstar
Morningstar Company Profile
(
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.
See Also
Before you consider Morningstar, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Morningstar wasn't on the list.
While Morningstar currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
MarketBeat All Access