First Quadrant L P CA bought a new position in shares of Morningstar, Inc. (NASDAQ:MORN) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,743 shares of the business services provider’s stock, valued at approximately $246,000.
Several other hedge funds and other institutional investors have also modified their holdings of the company. APG Asset Management N.V. acquired a new position in Morningstar during the first quarter worth approximately $11,714,000. Citigroup Inc. increased its position in Morningstar by 70.9% during the first quarter. Citigroup Inc. now owns 10,027 shares of the business services provider’s stock worth $1,165,000 after buying an additional 4,159 shares during the period. Morgan Stanley increased its position in Morningstar by 5.1% during the first quarter. Morgan Stanley now owns 41,310 shares of the business services provider’s stock worth $4,802,000 after buying an additional 2,009 shares during the period. FDx Advisors Inc. acquired a new position in Morningstar during the first quarter worth approximately $357,000. Finally, Confluence Investment Management LLC increased its position in Morningstar by 4.0% during the first quarter. Confluence Investment Management LLC now owns 120,953 shares of the business services provider’s stock worth $14,061,000 after buying an additional 4,632 shares during the period. 46.73% of the stock is currently owned by institutional investors and hedge funds.
Shares of MORN stock opened at $168.04 on Friday. The business’s 50 day moving average is $151.23 and its two-hundred day moving average is $144.43. Morningstar, Inc. has a twelve month low of $102.59 and a twelve month high of $178.57. The company has a market capitalization of $7.19 billion, a P/E ratio of 36.53 and a beta of 1.15. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.50.
Morningstar (NASDAQ:MORN) last announced its earnings results on Wednesday, April 29th. The business services provider reported $0.84 earnings per share for the quarter. Morningstar had a return on equity of 18.86% and a net margin of 11.46%. The company had revenue of $324.00 million for the quarter.
The business also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Thursday, July 2nd were paid a $0.30 dividend. The ex-dividend date was Wednesday, July 1st. This represents a $1.20 annualized dividend and a dividend yield of 0.71%.
In related news, Chairman Joseph D. Mansueto sold 847 shares of Morningstar stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $153.12, for a total value of $129,692.64. Following the sale, the chairman now directly owns 20,263,465 shares in the company, valued at $3,102,741,760.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Joseph D. Mansueto sold 21,481 shares of Morningstar stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $141.17, for a total value of $3,032,472.77. Following the completion of the sale, the insider now owns 20,126,680 shares in the company, valued at $2,841,283,415.60. The disclosure for this sale can be found here. Insiders sold a total of 202,755 shares of company stock worth $29,696,910 over the last quarter. Company insiders own 49.70% of the company’s stock.
Several research analysts have commented on the company. TheStreet raised Morningstar from a “c+” rating to a “b-” rating in a research report on Monday, June 15th. BidaskClub downgraded Morningstar from a “hold” rating to a “sell” rating in a research note on Wednesday, June 10th.
Morningstar Company Profile
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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