State of Michigan Retirement System Purchases 200 Shares of Morningstar, Inc. (NASDAQ:MORN)

State of Michigan Retirement System increased its position in Morningstar, Inc. (NASDAQ:MORN) by 3.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,400 shares of the business services provider’s stock after purchasing an additional 200 shares during the quarter. State of Michigan Retirement System’s holdings in Morningstar were worth $1,974,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Principal Securities Inc. acquired a new stake in shares of Morningstar during the 4th quarter valued at about $29,000. GAMMA Investing LLC acquired a new stake in Morningstar during the fourth quarter valued at approximately $35,000. CVA Family Office LLC bought a new stake in shares of Morningstar in the 4th quarter valued at approximately $65,000. Fifth Third Bancorp raised its holdings in shares of Morningstar by 19.6% in the 4th quarter. Fifth Third Bancorp now owns 232 shares of the business services provider’s stock worth $66,000 after buying an additional 38 shares in the last quarter. Finally, CWM LLC lifted its position in shares of Morningstar by 14.1% during the 4th quarter. CWM LLC now owns 324 shares of the business services provider’s stock worth $93,000 after buying an additional 40 shares during the period. Institutional investors own 57.02% of the company’s stock.

Morningstar Stock Performance

Shares of NASDAQ:MORN opened at $301.41 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.98 and a quick ratio of 0.98. The business’s fifty day moving average price is $293.44 and its two-hundred day moving average price is $291.60. Morningstar, Inc. has a fifty-two week low of $188.97 and a fifty-two week high of $316.05. The stock has a market capitalization of $12.89 billion, a price-to-earnings ratio of 60.89 and a beta of 1.17.

Morningstar (NASDAQ:MORN) last posted 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 Announces Dividend

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

Insider Transactions at Morningstar

In related news, Chairman Joseph D. Mansueto sold 8,325 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $286.72, for a total transaction of $2,386,944.00. Following the completion of the sale, the chairman now directly owns 10,758,587 shares of the company’s stock, valued at approximately $3,084,702,064.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Chairman Joseph D. Mansueto sold 8,325 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $286.72, for a total value of $2,386,944.00. Following the completion of the sale, the chairman now directly owns 10,758,587 shares in the company, valued at $3,084,702,064.64. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Joseph D. Mansueto sold 8,954 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $294.34, for a total transaction of $2,635,520.36. Following the transaction, the chairman now owns 10,741,312 shares in the company, valued at approximately $3,161,597,774.08. The disclosure for this sale can be found here. Insiders have sold 77,952 shares of company stock valued at $23,001,340 in the last three months. 37.70% 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.