JPMorgan Chase & Co. trimmed its holdings in shares of Morningstar, Inc. (NASDAQ:MORN - Free Report) by 5.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 190,655 shares of the business services provider's stock after selling 11,485 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.44% of Morningstar worth $64,205,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of the business. Segall Bryant & Hamill LLC increased its holdings in shares of Morningstar by 8.6% in the 4th quarter. Segall Bryant & Hamill LLC now owns 36,832 shares of the business services provider's stock valued at $12,404,000 after acquiring an additional 2,927 shares during the period. Prudential Financial Inc. boosted its position in Morningstar by 48.6% during the fourth quarter. Prudential Financial Inc. now owns 17,353 shares of the business services provider's stock valued at $5,844,000 after purchasing an additional 5,677 shares in the last quarter. Congress Wealth Management LLC DE grew its stake in Morningstar by 8.4% during the 4th quarter. Congress Wealth Management LLC DE now owns 10,010 shares of the business services provider's stock worth $3,371,000 after buying an additional 773 shares during the last quarter. Vanguard Group Inc. increased its position in Morningstar by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 2,803,611 shares of the business services provider's stock valued at $944,144,000 after buying an additional 51,598 shares in the last quarter. Finally, LPL Financial LLC raised its stake in Morningstar by 13.6% in the fourth quarter. LPL Financial LLC now owns 5,092 shares of the business services provider's stock valued at $1,715,000 after buying an additional 610 shares during the last quarter. Institutional investors own 57.02% of the company's stock.
Morningstar Stock Performance
MORN stock traded down $10.91 during midday trading on Monday, reaching $257.85. The stock had a trading volume of 308,233 shares, compared to its average volume of 129,456. The firm has a fifty day simple moving average of $309.72 and a two-hundred day simple moving average of $327.24. Morningstar, Inc. has a 52-week low of $253.35 and a 52-week high of $365.00. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.14 and a current ratio of 1.14. The stock has a market cap of $11.04 billion, a PE ratio of 34.06 and a beta of 1.16.
Morningstar (NASDAQ:MORN - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The business services provider reported $2.14 earnings per share for the quarter, beating analysts' consensus estimates of $1.99 by $0.15. Morningstar had a return on equity of 23.28% and a net margin of 14.69%. The business had revenue of $591.00 million for the quarter, compared to analyst estimates of $580.81 million.
Morningstar Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be issued a $0.455 dividend. This is an increase from Morningstar's previous quarterly dividend of $0.41. This represents a $1.82 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Friday, April 4th. Morningstar's dividend payout ratio is 21.24%.
Analyst Upgrades and Downgrades
MORN has been the topic of a number of research analyst reports. BMO Capital Markets dropped their price target on Morningstar from $387.00 to $370.00 and set an "outperform" rating on the stock in a research note on Monday, March 3rd. StockNews.com upgraded shares of Morningstar from a "hold" rating to a "buy" rating in a research note on Thursday.
Check Out Our Latest Research Report on Morningstar
Insider Transactions at Morningstar
In related news, Chairman Joseph D. Mansueto sold 9,062 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $326.86, for a total transaction of $2,962,005.32. Following the sale, the chairman now directly owns 10,109,617 shares of the company's stock, valued at $3,304,429,412.62. This trade represents a 0.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 59,544 shares of company stock worth $18,770,097 over the last 90 days. 39.90% of the stock is currently owned by company insiders.
About Morningstar
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Free Report)
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.
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