Bank of New York Mellon Corp Cuts Stake in Morningstar, Inc. (NASDAQ:MORN)

Bank of New York Mellon Corp lessened its stake in shares of Morningstar, Inc. (NASDAQ:MORN) by 8.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 327,902 shares of the business services provider’s stock after selling 31,249 shares during the period. Bank of New York Mellon Corp owned about 0.77% of Morningstar worth $97,010,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in MORN. 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 valued at $93,000 after buying an additional 40 shares during the last quarter. Versant Capital Management Inc lifted its holdings in Morningstar by 21.9% during the second quarter. Versant Capital Management Inc now owns 245 shares of the business services provider’s stock valued at $72,000 after purchasing an additional 44 shares during the last quarter. GAMMA Investing LLC boosted its position in Morningstar by 38.6% during the second quarter. GAMMA Investing LLC now owns 183 shares of the business services provider’s stock worth $54,000 after purchasing an additional 51 shares during the period. Great Valley Advisor Group Inc. increased its stake in shares of Morningstar by 7.3% in the second quarter. Great Valley Advisor Group Inc. now owns 754 shares of the business services provider’s stock worth $223,000 after purchasing an additional 51 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its position in shares of Morningstar by 38.0% in the second quarter. Nisa Investment Advisors LLC now owns 196 shares of the business services provider’s stock valued at $58,000 after purchasing an additional 54 shares during the period. Hedge funds and other institutional investors own 57.02% of the company’s stock.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets reiterated an “outperform” rating and issued a $352.00 price objective on shares of Morningstar in a research note on Wednesday.

Morningstar Stock Down 0.3 %

MORN stock opened at $310.19 on Thursday. The stock has a 50-day simple moving average of $306.75 and a two-hundred day simple moving average of $300.02. Morningstar, Inc. has a twelve month low of $219.45 and a twelve month high of $330.22. The firm has a market capitalization of $13.26 billion, a PE ratio of 62.66 and a beta of 1.17. The company has a quick ratio of 0.98, a current ratio of 1.05 and a debt-to-equity ratio of 0.63.

Morningstar (NASDAQ:MORN) last issued its quarterly earnings data on Wednesday, July 24th. The business services provider reported $2.01 EPS for the quarter. Morningstar had a net margin of 11.34% and a return on equity of 22.34%. The company had revenue of $571.90 million during the quarter.

Morningstar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, July 12th were given a $0.405 dividend. The ex-dividend date of this dividend was Friday, July 12th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 0.52%. Morningstar’s dividend payout ratio (DPR) is presently 32.73%.

Insider Activity at Morningstar

In other Morningstar news, Chairman Joseph D. Mansueto sold 9,062 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $289.22, for a total value of $2,620,911.64. Following the sale, the chairman now owns 10,648,928 shares of the company’s stock, valued at approximately $3,079,882,956.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director William M. Lyons sold 750 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $289.07, for a total value of $216,802.50. Following the completion of the transaction, the director now directly owns 16,590 shares in the company, valued at $4,795,671.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Joseph D. Mansueto sold 9,062 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $289.22, for a total value of $2,620,911.64. Following the sale, the chairman now owns 10,648,928 shares in the company, valued at approximately $3,079,882,956.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,025 shares of company stock valued at $15,813,656. Company insiders own 39.90% of the company’s stock.

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.