Thrivent Financial for Lutherans Has $1.86 Million Stake in Morningstar, Inc. (NASDAQ:MORN)

Thrivent Financial for Lutherans lowered its stake in shares of Morningstar, Inc. (NASDAQ:MORN) by 12.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,300 shares of the business services provider’s stock after selling 894 shares during the period. Thrivent Financial for Lutherans’ holdings in Morningstar were worth $1,864,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Morningstar by 0.9% in the fourth 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. Massachusetts Financial Services Co. MA raised its stake in Morningstar by 0.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,099,502 shares of the business services provider’s stock worth $325,288,000 after acquiring an additional 4,822 shares in the last quarter. 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 acquiring an additional 28,164 shares during the period. Wellington Management Group LLP boosted its stake 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 valued at $145,835,000 after purchasing an additional 160,281 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings 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 purchasing an additional 6,092 shares during the last quarter. 57.02% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Morningstar

In other Morningstar news, Director William M. Lyons sold 750 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $311.60, for a total transaction of $233,700.00. Following the completion of the sale, the director now owns 14,340 shares of the company’s stock, valued at approximately $4,468,344. The sale 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 8,056 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $305.95, for a total transaction of $2,464,733.20. Following the completion of the transaction, the chairman now directly owns 10,517,257 shares in the company, valued at $3,217,754,779.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William M. Lyons sold 750 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $311.60, for a total transaction of $233,700.00. Following the sale, the director now directly owns 14,340 shares in the company, valued at $4,468,344. The disclosure for this sale can be found here. Insiders sold a total of 59,541 shares of company stock worth $18,399,192 in the last three months. Insiders own 39.90% of the company’s stock.

Morningstar Stock Up 0.7 %

NASDAQ:MORN opened at $318.61 on Thursday. The firm has a market capitalization of $13.62 billion, a P/E ratio of 64.37 and a beta of 1.18. The stock’s fifty day simple moving average is $313.42 and its 200-day simple moving average is $303.66. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.63. Morningstar, Inc. has a 12-month low of $219.45 and a 12-month high of $330.22.

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

Morningstar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be given a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend is Friday, October 4th. Morningstar’s dividend payout ratio is presently 32.73%.

Analysts Set New Price Targets

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

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.