Azzad Asset Management Inc. ADV Sells 2,358 Shares of Morningstar, Inc. (NASDAQ:MORN)

Azzad Asset Management Inc. ADV reduced its position in shares of Morningstar, Inc. (NASDAQ:MORN) by 15.7% in the first quarter, HoldingsChannel reports. The firm owned 12,645 shares of the business services provider’s stock after selling 2,358 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Morningstar were worth $3,899,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MORN. Vanguard Group Inc. boosted its position in shares of Morningstar by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 2,576,670 shares of the business services provider’s stock worth $737,546,000 after acquiring an additional 23,812 shares during the last quarter. Morgan Stanley boosted its holdings in shares of Morningstar by 1.0% during the 3rd quarter. Morgan Stanley now owns 1,957,310 shares of the business services provider’s stock valued at $458,481,000 after purchasing an additional 19,119 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Morningstar by 6.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,075,731 shares of the business services provider’s stock valued at $307,917,000 after purchasing an additional 67,983 shares in the last quarter. Wasatch Advisors LP increased 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 worth $173,334,000 after purchasing an additional 28,164 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position 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 worth $145,835,000 after buying an additional 160,281 shares in the last quarter. Hedge funds and other institutional investors own 57.02% of the company’s stock.

Insider Transactions at Morningstar

In other Morningstar news, CFO Jason Dubinsky sold 3,400 shares of the company’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $300.11, for a total value of $1,020,374.00. Following the completion of the sale, the chief financial officer now directly owns 20,181 shares in the company, valued at approximately $6,056,519.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Chairman Joseph D. Mansueto sold 134 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $300.43, for a total value of $40,257.62. Following the completion of the sale, the chairman now owns 10,726,348 shares of the company’s stock, valued at approximately $3,222,516,729.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jason Dubinsky sold 3,400 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $300.11, for a total value of $1,020,374.00. Following the completion of the sale, the chief financial officer now owns 20,181 shares of the company’s stock, valued at $6,056,519.91. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 77,952 shares of company stock worth $23,001,340. 37.70% of the stock is currently owned by insiders.

Morningstar Price Performance

MORN traded up $1.50 during trading hours on Wednesday, hitting $300.96. The company’s stock had a trading volume of 21,889 shares, compared to its average volume of 118,518. The stock has a market cap of $12.86 billion, a price-to-earnings ratio of 60.31 and a beta of 1.17. The business’s 50-day moving average price is $293.18 and its 200-day moving average price is $291.47. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.66. Morningstar, Inc. has a 12 month low of $188.97 and a 12 month high of $316.05.

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

Morningstar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 12th will be given a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend is Friday, July 12th. Morningstar’s dividend payout ratio (DPR) is presently 32.73%.

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.