Truist Financial Corp Grows Position in Morningstar, Inc. (NASDAQ:MORN)

Truist Financial Corp boosted its stake in shares of Morningstar, Inc. (NASDAQ:MORN) by 88.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,006 shares of the business services provider’s stock after acquiring an additional 941 shares during the period. Truist Financial Corp’s holdings in Morningstar were worth $574,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd grew its position in shares of Morningstar by 137.6% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 423 shares of the business services provider’s stock valued at $122,000 after purchasing an additional 245 shares in the last quarter. GAMMA Investing LLC bought a new stake in Morningstar in the 4th quarter worth approximately $35,000. Linden Thomas Advisory Services LLC raised its holdings in shares of Morningstar by 3.1% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 7,379 shares of the business services provider’s stock worth $2,112,000 after acquiring an additional 224 shares in the last quarter. Duality Advisers LP bought a new position in shares of Morningstar during the 4th quarter valued at approximately $4,053,000. Finally, Handelsbanken Fonder AB grew its holdings in shares of Morningstar by 65.2% in the fourth quarter. Handelsbanken Fonder AB now owns 5,572 shares of the business services provider’s stock valued at $1,595,000 after purchasing an additional 2,200 shares in the last quarter. 57.02% of the stock is currently owned by institutional investors.

Morningstar Stock Performance

NASDAQ:MORN opened at $299.97 on Friday. The firm has a market capitalization of $12.82 billion, a PE ratio of 60.60 and a beta of 1.15. The stock’s fifty day moving average is $301.63 and its 200 day moving average is $286.38. Morningstar, Inc. has a fifty-two week low of $185.15 and a fifty-two week high of $316.05. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.98 and a current ratio of 0.98.

Morningstar (NASDAQ:MORN) last announced its earnings results on Wednesday, April 24th. The business services provider reported $1.73 earnings per share for the quarter. Morningstar had a net margin of 10.13% and a return on equity of 21.79%. The business had revenue of $542.80 million for the quarter.

Morningstar Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, April 5th were given a dividend of $0.405 per share. The ex-dividend date was Thursday, April 4th. This represents a $1.62 annualized dividend and a dividend yield of 0.54%. Morningstar’s dividend payout ratio (DPR) is presently 32.73%.

Insider Activity

In related news, Chairman Joseph D. Mansueto sold 4,675 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $311.07, for a total transaction of $1,454,252.25. Following the completion of the sale, the chairman now directly owns 10,776,823 shares of the company’s stock, valued at approximately $3,352,346,330.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Chairman Joseph D. Mansueto sold 1,558 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $298.17, for a total value of $464,548.86. Following the transaction, the chairman now owns 10,712,997 shares of the company’s stock, valued at approximately $3,194,294,315.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Joseph D. Mansueto sold 4,675 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $311.07, for a total transaction of $1,454,252.25. Following the completion of the sale, the chairman now directly owns 10,776,823 shares of the company’s stock, valued at $3,352,346,330.61. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 88,409 shares of company stock valued at $26,266,305. 37.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have commented on MORN. TheStreet upgraded shares of Morningstar from a “c” rating to a “b” rating in a research report on Friday, February 23rd. StockNews.com raised shares of Morningstar from a “hold” rating to a “buy” rating in a report on Thursday, February 29th.

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.