Profund Advisors LLC Sells 275 Shares of Morningstar, Inc. (NASDAQ:MORN)

Profund Advisors LLC lessened its stake in shares of Morningstar, Inc. (NASDAQ:MORN) by 26.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 757 shares of the business services provider’s stock after selling 275 shares during the quarter. Profund Advisors LLC’s holdings in Morningstar were worth $224,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Blue Trust Inc. raised its stake in Morningstar by 326.9% during the 2nd quarter. Blue Trust Inc. now owns 111 shares of the business services provider’s stock worth $34,000 after buying an additional 85 shares during the period. Crewe Advisors LLC acquired a new position in shares of Morningstar during the second quarter worth approximately $35,000. DT Investment Partners LLC bought a new position in shares of Morningstar in the 2nd quarter worth $36,000. Acadian Asset Management LLC lifted its holdings in shares of Morningstar by 73.8% in the 2nd quarter. Acadian Asset Management LLC now owns 146 shares of the business services provider’s stock worth $43,000 after purchasing an additional 62 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Morningstar by 38.6% in the 2nd quarter. GAMMA Investing LLC now owns 183 shares of the business services provider’s stock valued at $54,000 after purchasing an additional 51 shares during the period. 57.02% of the stock is currently owned by institutional investors and hedge funds.

Morningstar Stock Performance

Shares of MORN opened at $317.27 on Friday. The firm has a market capitalization of $13.56 billion, a P/E ratio of 64.09 and a beta of 1.18. Morningstar, Inc. has a 52 week low of $219.45 and a 52 week high of $330.22. The stock has a 50 day moving average price of $312.80 and a two-hundred day moving average price of $303.48. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.05 and a current ratio of 1.05.

Morningstar (NASDAQ:MORN) last announced its quarterly earnings results on Wednesday, July 24th. The business services provider reported $2.01 earnings per share (EPS) for the quarter. Morningstar had a return on equity of 22.34% and a net margin of 11.34%. The business had revenue of $571.90 million during the quarter.

Morningstar Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be issued a $0.405 dividend. The ex-dividend date is Friday, October 4th. This represents a $1.62 annualized dividend and a dividend yield of 0.51%. Morningstar’s dividend payout ratio is currently 32.73%.

Insider Activity at Morningstar

In other Morningstar news, Chairman Joseph D. Mansueto sold 8,056 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $305.95, for a total value of $2,464,733.20. Following the completion of the sale, the chairman now owns 10,517,257 shares in the company, valued at approximately $3,217,754,779.15. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Chairman Joseph D. Mansueto sold 8,056 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $305.95, for a total value of $2,464,733.20. Following the completion of the transaction, the chairman now directly owns 10,517,257 shares of the company’s stock, valued at $3,217,754,779.15. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Joseph D. Mansueto sold 9,062 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $302.64, for a total value of $2,742,523.68. Following the completion of the transaction, the chairman now owns 10,631,706 shares of the company’s stock, valued at approximately $3,217,579,503.84. The disclosure for this sale can be found here. Insiders have sold 62,191 shares of company stock valued at $19,182,206 over the last ninety days. Corporate insiders own 39.90% of the company’s stock.

Analysts Set New Price Targets

Separately, BMO Capital Markets restated an “outperform” rating and set a $352.00 price objective on shares of Morningstar in a report on Wednesday, August 28th.

Morningstar 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.