Morningstar, Inc. (NASDAQ:MORN) Stake Lessened by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its position in shares of Morningstar, Inc. (NASDAQ:MORN) by 22.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,845 shares of the business services provider’s stock after selling 25,095 shares during the period. Principal Financial Group Inc. owned 0.20% of Morningstar worth $27,076,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its stake in Morningstar by 104.2% during the first quarter. BNP Paribas Financial Markets now owns 6,114 shares of the business services provider’s stock valued at $1,885,000 after buying an additional 3,120 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Morningstar by 60.8% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 1,140 shares of the business services provider’s stock worth $352,000 after purchasing an additional 431 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in Morningstar during the first quarter valued at approximately $654,000. Headlands Technologies LLC bought a new stake in Morningstar during the first quarter worth approximately $66,000. Finally, Russell Investments Group Ltd. grew its position in Morningstar by 0.4% in the first quarter. Russell Investments Group Ltd. now owns 22,413 shares of the business services provider’s stock worth $6,911,000 after buying an additional 82 shares during the last quarter. 57.02% of the stock is currently owned by institutional investors and hedge funds.

Morningstar Trading Up 0.6 %

NASDAQ:MORN opened at $350.55 on Wednesday. The stock’s 50-day moving average is $326.73 and its two-hundred day moving average is $310.02. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.14 and a quick ratio of 1.14. The stock has a market cap of $15.03 billion, a PE ratio of 46.05 and a beta of 1.18. Morningstar, Inc. has a fifty-two week low of $263.79 and a fifty-two week high of $352.00.

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

Morningstar Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were paid a $0.405 dividend. The ex-dividend date was Friday, October 4th. This represents a $1.62 dividend on an annualized basis and a yield of 0.46%. Morningstar’s dividend payout ratio (DPR) is currently 21.40%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. UBS Group started coverage on Morningstar in a research note on Tuesday, October 8th. They set a “buy” rating and a $390.00 price objective for the company. BMO Capital Markets restated an “outperform” rating and set a $352.00 price objective on shares of Morningstar in a report on Wednesday, August 28th. StockNews.com cut shares of Morningstar from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Redburn Atlantic lowered shares of Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 price target on the stock. in a report on Wednesday, October 9th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Morningstar has an average rating of “Moderate Buy” and an average price target of $360.67.

Insiders Place Their Bets

In related news, Chairman Joseph D. Mansueto sold 8,056 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $305.95, for a total value of $2,464,733.20. Following the completion of the sale, the chairman now owns 10,517,257 shares of the company’s stock, valued at approximately $3,217,754,779.15. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Morningstar news, Chairman Joseph D. Mansueto sold 8,056 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $305.95, for a total value of $2,464,733.20. Following the completion of the sale, the chairman now directly owns 10,517,257 shares of the company’s stock, valued at $3,217,754,779.15. 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 is available at this hyperlink. Also, Chairman Joseph D. Mansueto sold 6,209 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $312.12, for a total transaction of $1,937,953.08. Following the transaction, the chairman now owns 10,574,707 shares in the company, valued at $3,300,577,548.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,370 shares of company stock valued at $21,909,493 in the last three months. Insiders own 39.90% of the company’s stock.

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.