Morningstar, Inc. (NASDAQ:MORN) Shares Sold by Welch & Forbes LLC

Welch & Forbes LLC trimmed its position in Morningstar, Inc. (NASDAQ:MORN) by 29.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,410 shares of the business services provider’s stock after selling 576 shares during the period. Welch & Forbes LLC’s holdings in Morningstar were worth $366,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in MORN. Praesidium Investment Management Company LLC purchased a new stake in shares of Morningstar during the second quarter worth about $60,424,000. Echo Street Capital Management LLC boosted its holdings in Morningstar by 59.1% in the 2nd quarter. Echo Street Capital Management LLC now owns 446,257 shares of the business services provider’s stock valued at $114,737,000 after purchasing an additional 165,736 shares during the last quarter. State Street Corp boosted its holdings in Morningstar by 25.2% in the 2nd quarter. State Street Corp now owns 349,447 shares of the business services provider’s stock valued at $89,846,000 after purchasing an additional 70,389 shares during the last quarter. Artisan Partners Limited Partnership lifted its holdings in shares of Morningstar by 16.5% in the 2nd quarter. Artisan Partners Limited Partnership now owns 463,834 shares of the business services provider’s stock worth $119,256,000 after acquiring an additional 65,628 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Morningstar by 52.0% in the 2nd quarter. Millennium Management LLC now owns 190,517 shares of the business services provider’s stock worth $48,984,000 after acquiring an additional 65,177 shares during the last quarter. Institutional investors own 50.16% of the company’s stock.

In other news, Chairman Joseph D. Mansueto sold 7,778 shares of Morningstar stock in a transaction dated Friday, November 19th. The shares were sold at an average price of $325.02, for a total transaction of $2,528,005.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jason Dubinsky sold 3,007 shares of the firm’s stock in a transaction that occurred on Monday, November 22nd. The stock was sold at an average price of $318.96, for a total transaction of $959,112.72. The disclosure for this sale can be found here. Insiders have sold a total of 198,000 shares of company stock valued at $56,304,258 over the last 90 days. 45.70% of the stock is currently owned by insiders.

Shares of NASDAQ:MORN opened at $319.27 on Thursday. Morningstar, Inc. has a 52 week low of $196.65 and a 52 week high of $328.52. The company’s 50 day moving average is $292.10 and its two-hundred day moving average is $266.48. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.27. The company has a market cap of $13.76 billion, a PE ratio of 65.16 and a beta of 1.11.

Morningstar (NASDAQ:MORN) last issued its quarterly earnings results on Wednesday, October 27th. The business services provider reported $1.38 earnings per share for the quarter. Morningstar had a net margin of 13.11% and a return on equity of 20.93%. The firm had revenue of $428.90 million during the quarter.

About Morningstar

Morningstar, Inc engages in the provision of investment research. It offers morningstar data, morningstar direct, morningstar investment management, morningstar advisor workstation, workplace solutions, pitchbook data, morningstar enterprise components, morningstar research, morningstar credit ratings and morningstar indexes.

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Institutional Ownership by Quarter for Morningstar (NASDAQ:MORN)

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