State of New Jersey Common Pension Fund D Sells 261 Shares of Morningstar, Inc. (NASDAQ:MORN)

State of New Jersey Common Pension Fund D lessened its holdings in Morningstar, Inc. (NASDAQ:MORN) by 2.4% during the third quarter, HoldingsChannel.com reports. The firm owned 10,443 shares of the business services provider’s stock after selling 261 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Morningstar were worth $3,333,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in MORN. Scout Investments Inc. lifted its position in Morningstar by 75.8% during the 1st quarter. Scout Investments Inc. now owns 42,549 shares of the business services provider’s stock worth $13,034,000 after buying an additional 18,345 shares in the last quarter. M&G Plc boosted its position in Morningstar by 2.0% during the second quarter. M&G Plc now owns 173,105 shares of the business services provider’s stock valued at $51,239,000 after purchasing an additional 3,322 shares during the last quarter. Tidal Investments LLC acquired a new position in shares of Morningstar during the 1st quarter worth approximately $1,207,000. BNP Paribas Financial Markets boosted its holdings in shares of Morningstar by 104.2% in the 1st 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 during the last quarter. Finally, Harbor Capital Advisors Inc. grew its stake in shares of Morningstar by 295.4% in the second quarter. Harbor Capital Advisors Inc. now owns 2,637 shares of the business services provider’s stock valued at $780,000 after buying an additional 1,970 shares in the last quarter. Institutional investors and hedge funds own 57.02% of the company’s stock.

Morningstar Stock Up 0.6 %

Morningstar stock opened at $350.55 on Wednesday. The company’s 50-day moving average price is $326.73 and its two-hundred day moving average price is $310.02. 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 stock has a market cap of $15.03 billion, a P/E ratio of 46.31 and a beta of 1.18. Morningstar, Inc. has a twelve month low of $263.79 and a twelve month high of $352.00.

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

Morningstar Announces Dividend

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

Insider Activity at Morningstar

In other Morningstar news, Chairman Joseph D. Mansueto sold 7,222 shares of Morningstar stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $349.67, for a total value of $2,525,316.74. Following the completion of the sale, the chairman now owns 10,801,361 shares in the company, valued at $3,776,911,900.87. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Chairman Joseph D. Mansueto sold 3,838 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $315.90, for a total transaction of $1,212,424.20. Following the sale, the chairman now directly owns 10,581,130 shares of the company’s stock, valued at approximately $3,342,578,967. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Joseph D. Mansueto sold 7,222 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $349.67, for a total value of $2,525,316.74. Following the completion of the transaction, the chairman now owns 10,801,361 shares in the company, valued at $3,776,911,900.87. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,370 shares of company stock worth $21,909,493. Corporate insiders own 39.90% of the company’s stock.

Analyst Upgrades and Downgrades

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