Principal Financial Group Inc. Sells 25,095 Shares of Morningstar, Inc. (NASDAQ:MORN)

Principal Financial Group Inc. lowered its stake in shares of Morningstar, Inc. (NASDAQ:MORN - Free Report) by 22.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 84,845 shares of the business services provider's stock after selling 25,095 shares during the period. Principal Financial Group Inc. owned approximately 0.20% of Morningstar worth $27,076,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. V Square Quantitative Management LLC bought a new position in Morningstar during the 3rd quarter worth approximately $30,000. Crewe Advisors LLC bought a new position in shares of Morningstar during the second quarter worth $35,000. Venturi Wealth Management LLC grew its holdings in shares of Morningstar by 101.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 121 shares of the business services provider's stock valued at $39,000 after buying an additional 61 shares during the period. Acadian Asset Management LLC increased its position in shares of Morningstar by 73.8% in the 2nd quarter. Acadian Asset Management LLC now owns 146 shares of the business services provider's stock valued at $43,000 after buying an additional 62 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its stake in Morningstar by 93.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 182 shares of the business services provider's stock worth $58,000 after buying an additional 88 shares during the period. 57.02% of the stock is currently owned by institutional investors and hedge funds.

Morningstar Stock Up 0.5 %

MORN traded up $1.85 during trading hours on Wednesday, hitting $340.77. 28,099 shares of the company's stock were exchanged, compared to its average volume of 121,426. 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, Inc. has a 1-year low of $269.51 and a 1-year high of $365.00. The stock's 50-day moving average is $344.64 and its two-hundred day moving average is $321.91. The stock has a market cap of $14.61 billion, a price-to-earnings ratio of 45.02 and a beta of 1.19.

Morningstar (NASDAQ:MORN - Get Free Report) last announced 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). Morningstar had a net margin of 14.69% and a return on equity of 23.28%. The company had revenue of $569.40 million during the quarter.

Morningstar Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 3rd will be issued a dividend of $0.455 per share. The ex-dividend date of this dividend is Friday, October 3rd. 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 0.53%. Morningstar's dividend payout ratio is 24.04%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on MORN shares. StockNews.com downgraded Morningstar from a "buy" rating to a "hold" rating in a report on Friday, December 20th. Redburn Atlantic downgraded shares of Morningstar from a "buy" rating to a "neutral" rating and set a $340.00 target price on the stock. in a report on Wednesday, October 9th. UBS Group assumed coverage on shares of Morningstar in a report on Tuesday, October 8th. They issued a "buy" rating and a $390.00 price target for the company. Finally, 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. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $360.67.

Insider Activity at Morningstar

In related news, Chairman Joseph D. Mansueto sold 9,062 shares of Morningstar stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $328.22, for a total transaction of $2,974,329.64. Following the sale, the chairman now directly owns 10,845,718 shares in the company, valued at $3,559,781,561.96. This trade represents a 0.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William M. Lyons sold 750 shares of Morningstar stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $331.88, for a total transaction of $248,910.00. Following the transaction, the director now owns 12,840 shares in the company, valued at approximately $4,261,339.20. This trade represents a 5.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,411 shares of company stock valued at $17,961,104 in the last 90 days. 39.90% of the stock is owned by corporate insiders.

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.