Morningstar, Inc. (NASDAQ:MORN) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lessened its stake in Morningstar, Inc. (NASDAQ:MORN) by 2.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,584 shares of the business services provider’s stock after selling 347 shares during the period. Mutual of America Capital Management LLC’s holdings in Morningstar were worth $4,654,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in MORN. Dearborn Partners LLC bought a new stake in shares of Morningstar in the 3rd quarter worth about $338,000. CIBC Asset Management Inc increased its holdings in Morningstar by 3.4% in the third quarter. CIBC Asset Management Inc now owns 1,259 shares of the business services provider’s stock valued at $402,000 after buying an additional 41 shares during the last quarter. KBC Group NV raised its stake in Morningstar by 10.8% during the third quarter. KBC Group NV now owns 689 shares of the business services provider’s stock valued at $220,000 after buying an additional 67 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in Morningstar by 9.3% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 12,924 shares of the business services provider’s stock worth $4,124,000 after buying an additional 1,097 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of Morningstar by 12.7% in the 3rd quarter. Victory Capital Management Inc. now owns 15,843 shares of the business services provider’s stock worth $5,056,000 after acquiring an additional 1,789 shares in the last quarter. 57.02% of the stock is owned by institutional investors and hedge funds.

Morningstar Trading Up 0.3 %

Morningstar stock opened at $335.77 on Thursday. The firm has a 50-day moving average price of $330.54 and a two-hundred day moving average price of $312.28. Morningstar, Inc. has a 52-week low of $269.51 and a 52-week high of $352.55. The firm has a market capitalization of $14.40 billion, a price-to-earnings ratio of 44.24 and a beta of 1.18. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.55.

Morningstar (NASDAQ:MORN) last issued 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 business had revenue of $569.40 million for the quarter.

Morningstar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were issued a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 0.48%. The ex-dividend date was Friday, October 4th. Morningstar’s payout ratio is currently 21.40%.

Insider Activity

In other Morningstar news, Director William M. Lyons sold 750 shares of Morningstar stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $311.60, for a total value of $233,700.00. Following the transaction, the director now owns 14,340 shares in the company, valued at approximately $4,468,344. The trade was a 4.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Joseph D. Mansueto sold 6,110 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $312.18, for a total value of $1,907,419.80. Following the sale, the chairman now owns 10,539,718 shares of the company’s stock, valued at $3,290,289,165.24. This trade represents a 0.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 61,541 shares of company stock worth $20,234,838 over the last three months. Corporate insiders own 37.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on MORN shares. Redburn Atlantic lowered 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. StockNews.com upgraded shares of Morningstar from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. UBS Group began coverage on shares of Morningstar in a research note on Tuesday, October 8th. They set a “buy” rating and a $390.00 price objective on the stock. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $352.00 price target on shares of Morningstar in a report on Wednesday, August 28th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $360.67.

Morningstar 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.