Morningstar, Inc. (NASDAQ:MORN) Shares Sold by Cardinal Capital Management

Cardinal Capital Management trimmed its holdings in Morningstar, Inc. (NASDAQ:MORN) by 1.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,693 shares of the business services provider’s stock after selling 122 shares during the quarter. Cardinal Capital Management’s holdings in Morningstar were worth $3,061,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Cerity Partners LLC purchased a new stake in shares of Morningstar in the fourth quarter worth approximately $867,000. Allspring Global Investments Holdings LLC lifted its position in shares of Morningstar by 31.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 285,398 shares of the business services provider’s stock worth $81,693,000 after purchasing an additional 68,574 shares in the last quarter. HBK Sorce Advisory LLC lifted its position in shares of Morningstar by 4.7% in the fourth quarter. HBK Sorce Advisory LLC now owns 896 shares of the business services provider’s stock worth $256,000 after purchasing an additional 40 shares in the last quarter. New York State Teachers Retirement System increased its holdings in Morningstar by 3.6% in the fourth quarter. New York State Teachers Retirement System now owns 5,800 shares of the business services provider’s stock worth $1,660,000 after buying an additional 200 shares during the last quarter. Finally, Boit C F David acquired a new position in Morningstar in the fourth quarter worth approximately $109,000. 57.02% of the stock is owned by institutional investors and hedge funds.

Morningstar Stock Down 0.1 %

Shares of Morningstar stock traded down $0.40 on Thursday, hitting $312.49. The company had a trading volume of 27,420 shares, compared to its average volume of 129,552. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a market capitalization of $13.36 billion, a price-to-earnings ratio of 95.39 and a beta of 1.15. The stock has a 50 day moving average of $296.19 and a 200-day moving average of $275.13. Morningstar, Inc. has a 1 year low of $163.28 and a 1 year high of $316.05.

Morningstar (NASDAQ:MORN) last released its quarterly earnings results on Thursday, February 22nd. The business services provider reported $1.97 earnings per share for the quarter. Morningstar had a return on equity of 18.54% and a net margin of 6.92%. The firm had revenue of $538.70 million for the quarter.

Morningstar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, April 5th will be given a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend is Thursday, April 4th. Morningstar’s payout ratio is 49.39%.

Insider Transactions at Morningstar

In other news, Director Steven N. Kaplan sold 1,250 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $306.81, for a total value of $383,512.50. Following the completion of the sale, the director now directly owns 44,427 shares of the company’s stock, valued at approximately $13,630,647.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Morningstar news, Director Steven N. Kaplan sold 1,250 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $306.81, for a total transaction of $383,512.50. Following the transaction, the director now directly owns 44,427 shares in the company, valued at approximately $13,630,647.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Joseph D. Mansueto sold 12,650 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $298.12, for a total value of $3,771,218.00. Following the transaction, the chairman now owns 10,859,171 shares in the company, valued at $3,237,336,058.52. The disclosure for this sale can be found here. Insiders sold a total of 95,544 shares of company stock valued at $27,733,515 over the last 90 days. Company insiders own 37.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. TheStreet upgraded shares of Morningstar from a “c” rating to a “b” rating in a report on Friday, February 23rd. StockNews.com upgraded shares of Morningstar from a “hold” rating to a “buy” rating in a research report on Thursday, February 29th.

About Morningstar

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.