New York State Teachers Retirement System Trims Position in Morningstar, Inc. (NASDAQ:MORN)

New York State Teachers Retirement System reduced its holdings in Morningstar, Inc. (NASDAQ:MORN) by 1.2% during the 3rd quarter, Holdings Channel reports. The fund owned 8,445 shares of the business services provider’s stock after selling 100 shares during the period. New York State Teachers Retirement System’s holdings in Morningstar were worth $2,695,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the business. Millennium Management LLC grew its holdings in Morningstar by 154.0% during the second quarter. Millennium Management LLC now owns 320,186 shares of the business services provider’s stock worth $94,727,000 after acquiring an additional 194,122 shares during the period. M&G Plc acquired a new stake in shares of Morningstar during the 1st quarter worth approximately $52,293,000. Boston Financial Mangement LLC purchased a new position in shares of Morningstar during the 3rd quarter valued at approximately $19,666,000. Assenagon Asset Management S.A. acquired a new position in shares of Morningstar in the 2nd quarter valued at $9,366,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Morningstar during the first quarter worth $9,070,000. 57.02% of the stock is owned by hedge funds and other institutional investors.

Morningstar Stock Down 0.3 %

MORN stock opened at $343.27 on Friday. Morningstar, Inc. has a 52 week low of $259.50 and a 52 week high of $349.07. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.55. The firm has a 50-day simple moving average of $325.34 and a 200-day simple moving average of $309.16. The stock has a market capitalization of $14.72 billion, a P/E ratio of 45.35 and a beta of 1.18.

Morningstar (NASDAQ:MORN) last posted its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $2.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.01). Morningstar had a return on equity of 23.28% and a net margin of 14.69%. The firm had revenue of $569.40 million during the quarter.

Morningstar Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were paid a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend was Friday, October 4th. Morningstar’s dividend payout ratio is currently 21.40%.

Insider Buying and Selling at Morningstar

In related news, Chairman Joseph D. Mansueto sold 5,257 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $310.37, for a total transaction of $1,631,615.09. Following the transaction, the chairman now directly owns 10,599,799 shares in the company, valued at approximately $3,289,859,615.63. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Morningstar news, Director William M. Lyons sold 750 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $311.60, for a total value of $233,700.00. Following the completion of the sale, the director now directly owns 14,340 shares in the company, valued at $4,468,344. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Joseph D. Mansueto sold 5,257 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $310.37, for a total value of $1,631,615.09. Following the completion of the sale, the chairman now directly owns 10,599,799 shares of the company’s stock, valued at $3,289,859,615.63. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 61,492 shares of company stock worth $19,430,128. Corporate insiders own 37.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MORN. StockNews.com cut shares of Morningstar from a “buy” rating to a “hold” rating in a report on Thursday. UBS Group began coverage on Morningstar in a research note on Tuesday, October 8th. They issued a “buy” rating and a $390.00 price target for the company. BMO Capital Markets reiterated an “outperform” rating and set a $352.00 price target on shares of Morningstar in a research report on Wednesday, August 28th. Finally, Redburn Atlantic cut Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 price objective for the company. in a research report on Wednesday, October 9th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Morningstar has an average rating of “Moderate Buy” and an average target price of $360.67.

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.