Welch & Forbes LLC lessened its holdings in shares of Morningstar, Inc. (NASDAQ:MORN) by 1.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,213 shares of the business services provider’s stock after selling 250 shares during the period. Welch & Forbes LLC’s holdings in Morningstar were worth $3,100,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. North Star Investment Management Corp. bought a new stake in shares of Morningstar during the 3rd quarter valued at $47,000. Point72 Hong Kong Ltd bought a new stake in shares of Morningstar during the 2nd quarter valued at $60,000. Resources Investment Advisors LLC. bought a new stake in shares of Morningstar during the 2nd quarter valued at $65,000. Tower Research Capital LLC TRC bought a new stake in shares of Morningstar during the 2nd quarter valued at $83,000. Finally, Huntington National Bank boosted its holdings in shares of Morningstar by 13.4% during the 2nd quarter. Huntington National Bank now owns 1,064 shares of the business services provider’s stock valued at $154,000 after buying an additional 126 shares in the last quarter. Hedge funds and other institutional investors own 43.98% of the company’s stock.
Shares of Morningstar stock opened at $151.47 on Friday. The stock has a market cap of $6.48 billion, a price-to-earnings ratio of 38.17 and a beta of 0.79. The firm’s 50-day moving average is $154.25 and its 200 day moving average is $145.29. Morningstar, Inc. has a 1 year low of $99.67 and a 1 year high of $162.53. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.63 and a quick ratio of 1.63.
Morningstar (NASDAQ:MORN) last announced its quarterly earnings results on Thursday, July 25th. The business services provider reported $0.98 earnings per share (EPS) for the quarter. The company had revenue of $273.90 million for the quarter. Morningstar had a net margin of 16.52% and a return on equity of 17.36%.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 18th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date is Thursday, October 17th.
MORN has been the topic of a number of research reports. ValuEngine cut shares of Morningstar from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. BidaskClub upgraded shares of Morningstar from a “strong sell” rating to a “sell” rating in a research note on Thursday.
In related news, Chairman Joseph D. Mansueto sold 8,435 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $151.78, for a total value of $1,280,264.30. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Joseph D. Mansueto sold 9,944 shares of the company’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $145.84, for a total transaction of $1,450,232.96. Following the completion of the transaction, the chairman now owns 21,334,312 shares in the company, valued at approximately $3,111,396,062.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 335,183 shares of company stock worth $51,776,407. 54.10% of the stock is currently owned by company insiders.
Morningstar, Inc provides independent investment research services in North America, Europe, Australia, Canada, Asia, and internationally. It offers a line of data, research, and software tools on a range of investment offerings, including managed investment products, publicly listed companies, fixed income securities, private capital markets, and real-time global market data for financial advisors, asset managers, retirement plan providers and sponsors, and individual and institutional investors.
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