PNC Financial Services Group Inc. Grows Holdings in Morningstar, Inc. (NASDAQ:MORN)

PNC Financial Services Group Inc. lifted its position in shares of Morningstar, Inc. (NASDAQ:MORN) by 26.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,222 shares of the business services provider’s stock after buying an additional 257 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Morningstar were worth $350,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in Morningstar by 0.9% in the 4th 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 period. Morgan Stanley increased its stake in Morningstar by 1.0% in the third 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 lifted its position in 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 worth $307,917,000 after buying an additional 67,983 shares during the period. Wasatch Advisors LP boosted its stake in Morningstar by 1.0% in the 4th quarter. Wasatch Advisors LP now owns 533,935 shares of the business services provider’s stock worth $152,834,000 after buying an additional 5,240 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in Morningstar by 45.9% in the 4th 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 period. Institutional investors and hedge funds own 57.02% of the company’s stock.

Insider Transactions at Morningstar

In related news, Director Steven N. Kaplan sold 1,250 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $298.13, for a total transaction of $372,662.50. Following the completion of the sale, the director now owns 43,177 shares of the company’s stock, valued at approximately $12,872,359.01. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Caroline J. Tsay sold 290 shares of the company’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $296.98, for a total value of $86,124.20. Following the completion of the sale, the director now owns 3,925 shares of the company’s stock, valued at $1,165,646.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Steven N. Kaplan sold 1,250 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $298.13, for a total value of $372,662.50. Following the sale, the director now owns 43,177 shares in the company, valued at $12,872,359.01. The disclosure for this sale can be found here. Insiders have sold a total of 73,802 shares of company stock worth $21,760,308 in the last three months. 39.90% of the stock is currently owned by company insiders.

Morningstar Trading Up 0.6 %

Shares of MORN stock opened at $295.85 on Friday. The firm’s 50-day simple moving average is $293.31 and its 200-day simple moving average is $291.16. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.98 and a quick ratio of 0.98. Morningstar, Inc. has a 1-year low of $187.82 and a 1-year high of $316.05. The firm has a market cap of $12.65 billion, a P/E ratio of 59.77 and a beta of 1.16.

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

Morningstar Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 12th will be paid a dividend of $0.405 per share. The ex-dividend date of this dividend is Friday, July 12th. This represents a $1.62 annualized dividend and a yield of 0.55%. Morningstar’s dividend payout ratio 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.