Franklin Resources Inc. Sells 454 Shares of Morningstar, Inc. (NASDAQ:MORN)

Franklin Resources Inc. reduced its holdings in Morningstar, Inc. (NASDAQ:MORN) by 23.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,483 shares of the business services provider’s stock after selling 454 shares during the quarter. Franklin Resources Inc.’s holdings in Morningstar were worth $508,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. V Square Quantitative Management LLC acquired a new stake in shares of Morningstar during the third quarter worth $30,000. Venturi Wealth Management LLC raised its holdings in shares of Morningstar by 101.7% in the third quarter. Venturi Wealth Management LLC now owns 121 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 61 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in Morningstar by 73.8% during the second quarter. Acadian Asset Management LLC now owns 146 shares of the business services provider’s stock worth $43,000 after purchasing an additional 62 shares during the last quarter. Farther Finance Advisors LLC grew its position in Morningstar by 93.6% in the third quarter. Farther Finance Advisors LLC now owns 182 shares of the business services provider’s stock valued at $58,000 after purchasing an additional 88 shares in the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in Morningstar in the 3rd quarter valued at $58,000. Institutional investors and hedge funds own 57.02% of the company’s stock.

Morningstar Stock Down 0.6 %

Shares of MORN opened at $337.67 on Tuesday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.55. Morningstar, Inc. has a 12 month low of $269.51 and a 12 month high of $365.00. The stock has a market capitalization of $14.48 billion, a PE ratio of 44.61 and a beta of 1.19. The firm’s 50 day moving average is $344.32 and its 200-day moving average is $323.38.

Morningstar (NASDAQ:MORN) last released its earnings results 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). Morningstar had a return on equity of 23.28% and a net margin of 14.69%. The business had revenue of $569.40 million for the quarter.

Morningstar Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 3rd will be issued a $0.455 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $1.82 dividend on an annualized basis and a dividend yield of 0.54%. This is a boost from Morningstar’s previous quarterly dividend of $0.41. Morningstar’s dividend payout ratio is 24.04%.

Insider Activity

In other Morningstar news, Director William M. Lyons sold 750 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $331.88, for a total value of $248,910.00. Following the completion of the transaction, the director now directly owns 12,840 shares in the company, valued at approximately $4,261,339.20. This trade represents a 5.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Joseph D. Mansueto sold 9,062 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $329.45, for a total value of $2,985,475.90. Following the sale, the chairman now owns 10,836,656 shares in the company, valued at approximately $3,570,136,319.20. This trade represents a 0.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,661 shares of company stock worth $17,723,744. Corporate insiders own 39.90% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. StockNews.com raised Morningstar from a “hold” rating to a “buy” rating in a research report on Saturday. 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 research report on Wednesday, October 9th. Finally, UBS Group assumed coverage on shares of Morningstar in a research report on Tuesday, October 8th. They issued a “buy” rating and a $390.00 price objective for the company. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $360.67.

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.