Coronation Fund Managers Ltd. Sells 7,677 Shares of Morningstar, Inc. (NASDAQ:MORN)

Coronation Fund Managers Ltd. lowered its stake in Morningstar, Inc. (NASDAQ:MORN) by 21.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,134 shares of the business services provider’s stock after selling 7,677 shares during the period. Coronation Fund Managers Ltd. owned 0.07% of Morningstar worth $8,323,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Blue Trust Inc. boosted its stake in shares of Morningstar by 326.9% during the 2nd quarter. Blue Trust Inc. now owns 111 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 85 shares in the last quarter. Crewe Advisors LLC purchased a new stake in Morningstar in the second quarter worth about $35,000. DT Investment Partners LLC bought a new stake in Morningstar during the 2nd quarter valued at approximately $36,000. Acadian Asset Management LLC grew its holdings in shares of Morningstar by 73.8% during the 2nd quarter. Acadian Asset Management LLC now owns 146 shares of the business services provider’s stock worth $43,000 after acquiring an additional 62 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Morningstar by 38.6% in the 2nd quarter. GAMMA Investing LLC now owns 183 shares of the business services provider’s stock worth $54,000 after acquiring an additional 51 shares in the last quarter. Institutional investors own 57.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets reaffirmed an “outperform” rating and issued a $352.00 price target on shares of Morningstar in a research note on Wednesday, August 28th.

Morningstar Trading Down 0.8 %

Shares of NASDAQ MORN opened at $316.50 on Wednesday. Morningstar, Inc. has a 1 year low of $219.45 and a 1 year high of $330.22. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a 50-day moving average of $313.15 and a 200 day moving average of $303.55. The stock has a market cap of $13.53 billion, a P/E ratio of 63.94 and a beta of 1.18.

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

Morningstar Dividend Announcement

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

Insider Transactions at Morningstar

In related news, Director William M. Lyons sold 750 shares of the stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $316.48, for a total transaction of $237,360.00. Following the sale, the director now directly owns 13,590 shares of the company’s stock, valued at approximately $4,300,963.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director William M. Lyons sold 750 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $316.48, for a total value of $237,360.00. Following the transaction, the director now owns 13,590 shares in the company, valued at $4,300,963.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Daniel Joseph Dunn sold 1,600 shares of the firm’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 transaction of $513,424.00. Following the sale, the executive now directly owns 12,967 shares of the company’s stock, valued at approximately $4,160,980.63. The disclosure for this sale can be found here. Insiders sold a total of 59,541 shares of company stock valued at $18,399,192 in the last quarter. 39.90% of the stock is owned by insiders.

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.