Texas Permanent School Fund Corp Sells 1,533 Shares of Morningstar, Inc. (NASDAQ:MORN)

Texas Permanent School Fund Corp lowered its position in shares of Morningstar, Inc. (NASDAQ:MORN) by 6.7% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 21,263 shares of the business services provider’s stock after selling 1,533 shares during the period. Texas Permanent School Fund Corp’s holdings in Morningstar were worth $6,291,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Morningstar by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 2,576,670 shares of the business services provider’s stock valued at $737,546,000 after acquiring an additional 23,812 shares during the period. Wasatch Advisors LP lifted its holdings in shares of Morningstar by 5.3% during the first quarter. Wasatch Advisors LP now owns 562,099 shares of the business services provider’s stock valued at $173,334,000 after purchasing an additional 28,164 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Morningstar by 45.9% in the 4th quarter. Wellington Management Group LLP now owns 509,486 shares of the business services provider’s stock worth $145,835,000 after purchasing an additional 160,281 shares in the last quarter. Norges Bank purchased a new stake in shares of Morningstar in the 4th quarter worth approximately $85,814,000. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Morningstar by 2.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 291,490 shares of the business services provider’s stock worth $89,887,000 after buying an additional 6,092 shares during the last quarter. Institutional investors own 57.02% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets reissued an “outperform” rating and issued a $352.00 target price on shares of Morningstar in a report on Wednesday, August 28th.

Insider Activity

In related news, Director Caroline J. Tsay sold 290 shares of Morningstar 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 directly owns 3,925 shares in the company, valued at approximately $1,165,646.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director William M. Lyons sold 750 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $294.21, for a total transaction of $220,657.50. Following the transaction, the director now owns 15,840 shares in the company, valued at $4,660,286.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Caroline J. Tsay sold 290 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $296.98, for a total transaction of $86,124.20. Following the completion of the sale, the director now owns 3,925 shares in the company, valued at approximately $1,165,646.50. The disclosure for this sale can be found here. Insiders have sold a total of 63,231 shares of company stock valued at $19,488,988 over the last ninety days. 39.90% of the stock is currently owned by corporate insiders.

Morningstar Stock Down 0.7 %

NASDAQ:MORN opened at $305.74 on Thursday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market cap of $13.07 billion, a P/E ratio of 61.77 and a beta of 1.19. Morningstar, Inc. has a fifty-two week low of $219.45 and a fifty-two week high of $330.22. The firm has a 50-day simple moving average of $309.54 and a two-hundred day simple moving average of $302.26.

Morningstar (NASDAQ:MORN) last announced its quarterly earnings results on Wednesday, July 24th. The business services provider reported $2.01 earnings per share 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, July 12th were paid a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend was Friday, July 12th. Morningstar’s dividend payout ratio is currently 32.73%.

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.