Royce & Associates LP lowered its position in Morningstar, Inc. (NASDAQ:MORN) by 2.7% during the 1st quarter, HoldingsChannel.com reports. The firm owned 540,320 shares of the business services provider’s stock after selling 15,224 shares during the period. Royce & Associates LP’s holdings in Morningstar were worth $68,075,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Martingale Asset Management L P boosted its stake in shares of Morningstar by 5.5% during the 1st quarter. Martingale Asset Management L P now owns 133,429 shares of the business services provider’s stock worth $16,812,000 after acquiring an additional 6,900 shares during the last quarter. Commerce Bank raised its position in shares of Morningstar by 3.9% during the 1st quarter. Commerce Bank now owns 2,119 shares of the business services provider’s stock valued at $267,000 after purchasing an additional 80 shares during the period. US Bancorp DE raised its position in shares of Morningstar by 2.5% during the 1st quarter. US Bancorp DE now owns 18,942 shares of the business services provider’s stock valued at $2,387,000 after purchasing an additional 459 shares during the period. JPMorgan Chase & Co. raised its position in shares of Morningstar by 5.3% during the 1st quarter. JPMorgan Chase & Co. now owns 669,927 shares of the business services provider’s stock valued at $84,405,000 after purchasing an additional 33,458 shares during the period. Finally, Connable Office Inc. bought a new stake in shares of Morningstar during the 1st quarter valued at $212,000. 42.69% of the stock is currently owned by hedge funds and other institutional investors.
Shares of MORN stock traded up $1.01 on Friday, hitting $136.58. 62,297 shares of the stock traded hands, compared to its average volume of 77,197. The company has a market capitalization of $5.83 billion, a price-to-earnings ratio of 34.93 and a beta of 0.88. Morningstar, Inc. has a 52 week low of $99.67 and a 52 week high of $146.64. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, July 5th will be given a dividend of $0.28 per share. The ex-dividend date is Wednesday, July 3rd. This represents a $1.12 annualized dividend and a dividend yield of 0.82%.
Separately, BidaskClub upgraded shares of Morningstar from a “strong sell” rating to a “sell” rating in a research report on Wednesday, March 27th.
In other Morningstar news, Chairman Joseph D. Mansueto sold 345 shares of Morningstar stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $135.10, for a total value of $46,609.50. Following the sale, the chairman now directly owns 22,118,872 shares in the company, valued at approximately $2,988,259,607.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Joseph D. Mansueto sold 9,439 shares of Morningstar stock in a transaction on Monday, February 25th. The shares were sold at an average price of $126.82, for a total transaction of $1,197,053.98. Following the completion of the sale, the insider now owns 22,402,070 shares in the company, valued at $2,841,030,517.40. The disclosure for this sale can be found here. Insiders have sold a total of 340,861 shares of company stock worth $43,291,362 over the last 90 days. Insiders own 54.10% of the company’s stock.
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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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