State of New Jersey Common Pension Fund D Has $3.17 Million Stock Position in Morningstar, Inc. (NASDAQ:MORN)

State of New Jersey Common Pension Fund D reduced its position in shares of Morningstar, Inc. (NASDAQ:MORN) by 27.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,704 shares of the business services provider’s stock after selling 4,083 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Morningstar were worth $3,167,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Versant Capital Management Inc raised its stake in Morningstar by 21.9% during the 2nd quarter. Versant Capital Management Inc now owns 245 shares of the business services provider’s stock worth $72,000 after buying an additional 44 shares during the period. Legacy Advisors LLC raised its stake in Morningstar by 1.6% during the 2nd quarter. Legacy Advisors LLC now owns 3,025 shares of the business services provider’s stock worth $895,000 after buying an additional 49 shares during the period. GAMMA Investing LLC raised its stake in Morningstar by 38.6% during the 2nd quarter. GAMMA Investing LLC now owns 183 shares of the business services provider’s stock worth $54,000 after buying an additional 51 shares during the period. Great Valley Advisor Group Inc. raised its stake in Morningstar by 7.3% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 754 shares of the business services provider’s stock worth $223,000 after buying an additional 51 shares during the period. Finally, Nisa Investment Advisors LLC increased its holdings in Morningstar by 38.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 196 shares of the business services provider’s stock worth $58,000 after purchasing an additional 54 shares in the last quarter. 57.02% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CRO Daniel Joseph Dunn sold 1,600 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $320.89, for a total value of $513,424.00. Following the completion of the transaction, the executive now directly owns 12,967 shares of the company’s stock, valued at $4,160,980.63. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Caroline J. Tsay sold 290 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $296.98, for a total value of $86,124.20. Following the transaction, the director now owns 3,925 shares in the company, valued at $1,165,646.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CRO Daniel Joseph Dunn sold 1,600 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $320.89, for a total value of $513,424.00. Following the completion of the transaction, the executive now owns 12,967 shares in the company, valued at approximately $4,160,980.63. The disclosure for this sale can be found here. Insiders sold a total of 63,231 shares of company stock valued at $19,488,988 over the last three months. Corporate insiders own 39.90% of the company’s stock.

Morningstar Stock Performance

Shares of MORN opened at $320.20 on Wednesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a 50 day moving average price of $310.71 and a two-hundred day moving average price of $302.76. The firm has a market capitalization of $13.69 billion, a P/E ratio of 64.69 and a beta of 1.18. Morningstar, Inc. has a 52 week low of $219.45 and a 52 week high of $330.22.

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

Analysts Set New Price Targets

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

About Morningstar

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.