Principal Financial Group Inc. trimmed its holdings in shares of Morningstar, Inc. (NASDAQ:MORN - Free Report) by 2.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,327 shares of the business services provider's stock after selling 2,312 shares during the period. Principal Financial Group Inc. owned about 0.18% of Morningstar worth $22,888,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the business. Smartleaf Asset Management LLC raised its stake in Morningstar by 178.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 78 shares of the business services provider's stock valued at $26,000 after acquiring an additional 50 shares during the period. Blue Trust Inc. raised 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 valued at $53,000 after acquiring an additional 112 shares during the period. Johnson Financial Group Inc. bought a new stake in Morningstar in the 4th quarter valued at about $71,000. Whittier Trust Co. raised its stake in Morningstar by 64.2% in the 4th quarter. Whittier Trust Co. now owns 271 shares of the business services provider's stock valued at $91,000 after acquiring an additional 106 shares during the period. Finally, Mizuho Bank Ltd. bought a new stake in Morningstar in the 4th quarter valued at about $94,000. 57.02% of the stock is currently owned by institutional investors.
Insider Activity at Morningstar
In other news, Chairman Joseph D. Mansueto sold 7,250 shares of the business's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $297.25, for a total transaction of $2,155,062.50. Following the completion of the transaction, the chairman owned 9,495,705 shares of the company's stock, valued at approximately $2,822,598,311.25. The trade was a 0.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 53,569 shares of company stock worth $16,333,474 over the last ninety days. 36.20% of the stock is currently owned by insiders.
Morningstar Price Performance
Shares of MORN traded down $5.12 during midday trading on Friday, hitting $293.88. 186,582 shares of the company traded hands, compared to its average volume of 162,259. The stock has a 50-day moving average of $305.80 and a 200-day moving average of $306.08. Morningstar, Inc. has a one year low of $250.34 and a one year high of $365.00. The firm has a market cap of $12.42 billion, a P/E ratio of 33.02 and a beta of 1.01. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.11 and a quick ratio of 1.11.
Morningstar (NASDAQ:MORN - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The business services provider reported $2.23 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.13. Morningstar had a return on equity of 23.23% and a net margin of 16.60%. The firm had revenue of $581.90 million for the quarter, compared to analysts' expectations of $589.07 million.
Morningstar Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, July 11th will be issued a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend is Friday, July 11th. Morningstar's payout ratio is 20.45%.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on MORN shares. BMO Capital Markets boosted their price objective on Morningstar from $339.00 to $355.00 and gave the company an "outperform" rating in a research note on Monday, May 12th. Wall Street Zen cut Morningstar from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th.
View Our Latest Research Report on MORN
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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