Principal Financial Group Inc. trimmed its stake in shares of Morningstar, Inc. (NASDAQ:MORN - Free Report) by 2.9% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 76,327 shares of the business services provider's stock after selling 2,312 shares during the quarter. Principal Financial Group Inc. owned about 0.18% of Morningstar worth $22,888,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Smartleaf Asset Management LLC grew its position in Morningstar by 178.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 78 shares of the business services provider's stock worth $26,000 after acquiring an additional 50 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of 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 purchasing an additional 112 shares during the period. Johnson Financial Group Inc. acquired a new position in Morningstar during the 4th quarter worth approximately $71,000. Whittier Trust Co. raised its stake in Morningstar by 64.2% during the 4th quarter. Whittier Trust Co. now owns 271 shares of the business services provider's stock worth $91,000 after buying an additional 106 shares during the period. Finally, Mizuho Bank Ltd. acquired a new position in Morningstar during the 4th quarter worth approximately $94,000. Institutional investors own 57.02% of the company's stock.
Morningstar Trading Down 1.7%
Shares of NASDAQ MORN traded down $5.12 during trading hours on Friday, hitting $293.88. The company's stock had a trading volume of 186,582 shares, compared to its average volume of 162,008. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market cap of $12.42 billion, a price-to-earnings ratio of 33.02 and a beta of 1.01. Morningstar, Inc. has a 12 month low of $250.34 and a 12 month high of $365.00. The business has a 50-day simple moving average of $305.80 and a 200-day simple moving average of $306.32.
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 the consensus estimate of $2.10 by $0.13. Morningstar had a net margin of 16.60% and a return on equity of 23.23%. The firm had revenue of $581.90 million during the quarter, compared to analyst estimates of $589.07 million.
Morningstar Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Friday, July 11th will be paid a dividend of $0.455 per share. The ex-dividend date is Friday, July 11th. This represents a $1.82 dividend on an annualized basis and a yield of 0.62%. Morningstar's dividend payout ratio is presently 20.45%.
Insiders Place Their Bets
In other news, Director Caroline J. Tsay sold 200 shares of the business's 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 completion of the sale, the director owned 4,345 shares of the company's stock, valued at $1,346,254.80. The trade was a 4.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Joseph D. Mansueto sold 1,246 shares of the company's stock in a transaction 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 completion of the transaction, the chairman directly owned 9,427,836 shares of the company's stock, valued at $2,889,820,290.72. This represents a 0.01% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 53,569 shares of company stock valued at $16,333,474. Company insiders own 36.20% of the company's stock.
Wall Street Analysts Forecast Growth
MORN has been the subject of several recent analyst reports. BMO Capital Markets upped their target price on 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 Morningstar from a "buy" rating to a "hold" rating in a report on Saturday, July 5th.
Read Our Latest Analysis on MORN
Morningstar 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.
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