Teacher Retirement System of Texas Cuts Holdings in Morningstar, Inc. (NASDAQ:MORN)

Teacher Retirement System of Texas reduced its holdings in shares of Morningstar, Inc. (NASDAQ:MORN - Free Report) by 17.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,888 shares of the business services provider's stock after selling 5,863 shares during the quarter. Teacher Retirement System of Texas owned 0.06% of Morningstar worth $8,063,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in MORN. Norges Bank purchased a new position in Morningstar in the 4th quarter worth approximately $111,694,000. Balyasny Asset Management L.P. bought a new position in shares of Morningstar in the 4th quarter worth about $56,584,000. Premier Fund Managers Ltd purchased a new stake in Morningstar during the 4th quarter valued at about $50,694,000. GAMMA Investing LLC boosted its holdings in shares of Morningstar by 30,785.9% during the 1st quarter. GAMMA Investing LLC now owns 144,237 shares of the business services provider's stock valued at $43,252,000 after acquiring an additional 143,770 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Morningstar by 13.7% in the fourth quarter. Wellington Management Group LLP now owns 1,080,599 shares of the business services provider's stock worth $363,903,000 after buying an additional 130,087 shares during the last quarter. Institutional investors own 57.02% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MORN. 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 downgraded Morningstar from a "buy" rating to a "hold" rating in a research note on Saturday.

Insider Activity at Morningstar

In other news, Director Caroline J. Tsay sold 200 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $309.84, for a total value of $61,968.00. Following the completion of the transaction, the director owned 4,345 shares in the company, valued at approximately $1,346,254.80. This represents a 4.40% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Joseph D. Mansueto sold 1,246 shares of the stock in a transaction dated 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 of the company's stock, valued at $2,889,820,290.72. This trade represents a 0.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold 53,569 shares of company stock valued at $16,333,474 over the last three months. Insiders own 36.20% of the company's stock.

Morningstar Price Performance

Shares of NASDAQ:MORN traded down $2.85 on Wednesday, reaching $300.94. 200,178 shares of the company were exchanged, compared to its average volume of 159,966. The firm has a market cap of $12.71 billion, a price-to-earnings ratio of 33.87 and a beta of 1.01. Morningstar, Inc. has a 1-year low of $250.34 and a 1-year high of $365.00. The company has a 50-day moving average of $305.17 and a 200-day moving average of $306.97. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50.

Morningstar (NASDAQ:MORN - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $589.07 million. Morningstar had a net margin of 16.60% and a return on equity of 23.23%.

Morningstar Dividend Announcement

The business also recently disclosed 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. This represents a $1.82 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend is Friday, July 11th. Morningstar's payout ratio is presently 20.45%.

Morningstar Company 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.