The Manufacturers Life Insurance Company Sells 359 Shares of Morningstar, Inc. (NASDAQ:MORN)

The Manufacturers Life Insurance Company reduced its position in shares of Morningstar, Inc. (NASDAQ:MORN) by 1.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,118 shares of the business services provider’s stock after selling 359 shares during the period. The Manufacturers Life Insurance Company owned about 0.05% of Morningstar worth $6,839,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Morningstar by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 2,576,670 shares of the business services provider’s stock valued at $737,546,000 after purchasing an additional 23,812 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Morningstar by 0.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,099,502 shares of the business services provider’s stock valued at $325,288,000 after buying an additional 4,822 shares in the last quarter. Wasatch Advisors LP raised its holdings in shares of Morningstar by 5.3% in the first quarter. Wasatch Advisors LP now owns 562,099 shares of the business services provider’s stock valued at $173,334,000 after buying an additional 28,164 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Morningstar by 45.9% in the fourth quarter. Wellington Management Group LLP now owns 509,486 shares of the business services provider’s stock valued at $145,835,000 after buying an additional 160,281 shares during the last quarter. Finally, Millennium Management LLC lifted its position in Morningstar by 154.0% during the 2nd quarter. Millennium Management LLC now owns 320,186 shares of the business services provider’s stock worth $94,727,000 after buying an additional 194,122 shares in the last quarter. 57.02% of the stock is currently owned by institutional investors and hedge funds.

Morningstar Stock Up 0.7 %

NASDAQ MORN opened at $318.96 on Friday. The stock has a market capitalization of $13.63 billion, a P/E ratio of 64.44 and a beta of 1.19. Morningstar, Inc. has a 52 week low of $219.45 and a 52 week high of $330.22. 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 fifty day moving average of $313.16 and a 200-day moving average of $303.85.

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

Morningstar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be given 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 dividend payout ratio is currently 32.73%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other Morningstar news, Director William M. Lyons sold 750 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $311.60, for a total transaction of $233,700.00. Following the sale, the director now directly owns 14,340 shares of the company’s stock, valued at $4,468,344. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, Chairman Joseph D. Mansueto sold 1,144 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $317.03, for a total value of $362,682.32. Following the transaction, the chairman now directly owns 10,640,768 shares of the company’s stock, valued at $3,373,442,679.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William M. Lyons sold 750 shares of Morningstar stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $311.60, for a total transaction of $233,700.00. Following the sale, the director now directly owns 14,340 shares of the company’s stock, valued at $4,468,344. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 59,541 shares of company stock worth $18,399,192. 39.90% of the stock is owned by corporate insiders.

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.