Bank of Stockton Has $243,000 Stock Holdings in Morningstar, Inc. (NASDAQ:MORN)

Bank of Stockton reduced its stake in Morningstar, Inc. (NASDAQ:MORN) by 17.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 760 shares of the business services provider’s stock after selling 164 shares during the period. Bank of Stockton’s holdings in Morningstar were worth $243,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA grew its stake in Morningstar by 0.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,099,502 shares of the business services provider’s stock valued at $325,288,000 after buying an additional 4,822 shares during the last quarter. Wasatch Advisors LP grew its position in shares of Morningstar by 5.3% in the first quarter. Wasatch Advisors LP now owns 562,099 shares of the business services provider’s stock valued at $173,334,000 after purchasing an additional 28,164 shares during the last quarter. Millennium Management LLC increased its stake in shares of Morningstar by 154.0% during the second quarter. Millennium Management LLC now owns 320,186 shares of the business services provider’s stock worth $94,727,000 after purchasing an additional 194,122 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Morningstar by 2.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 291,490 shares of the business services provider’s stock worth $89,887,000 after purchasing an additional 6,092 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Morningstar by 1.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 272,075 shares of the business services provider’s stock valued at $80,492,000 after purchasing an additional 4,722 shares during the period. 57.02% of the stock is owned by institutional investors.

Insider Activity

In other Morningstar news, CRO Daniel Joseph Dunn sold 1,600 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $320.89, for a total value of $513,424.00. Following the completion of the sale, the executive now owns 12,967 shares of the company’s stock, valued at approximately $4,160,980.63. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CRO Daniel Joseph Dunn sold 1,600 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $320.89, for a total value of $513,424.00. Following the completion of the sale, the executive now directly owns 12,967 shares of the company’s stock, valued at $4,160,980.63. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Joseph D. Mansueto sold 1,144 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $317.03, for a total value of $362,682.32. Following the sale, the chairman now owns 10,640,768 shares of the company’s stock, valued at $3,373,442,679.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 59,541 shares of company stock worth $18,399,192 in the last three months. Company insiders own 39.90% of the company’s stock.

Morningstar Trading Up 0.4 %

Shares of NASDAQ:MORN traded up $1.29 during trading on Friday, reaching $332.63. The stock had a trading volume of 18,888 shares, compared to its average volume of 114,104. The stock has a market cap of $14.25 billion, a price-to-earnings ratio of 58.03 and a beta of 1.19. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.05 and a current ratio of 1.05. Morningstar, Inc. has a 52 week low of $226.00 and a 52 week high of $349.07. The firm’s fifty day moving average is $320.98 and its 200 day moving average is $307.06.

Morningstar (NASDAQ:MORN) last issued its quarterly earnings results 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). The business had revenue of $569.40 million during the quarter. Morningstar had a net margin of 11.34% and a return on equity of 22.34%.

Morningstar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be given a dividend of $0.405 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 0.49%. Morningstar’s dividend payout ratio (DPR) is presently 28.37%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MORN. UBS Group initiated coverage on Morningstar in a report on Tuesday, October 8th. They set a “buy” rating and a $390.00 target price for the company. BMO Capital Markets reiterated an “outperform” rating and issued a $352.00 price objective on shares of Morningstar in a research note on Wednesday, August 28th. Finally, Redburn Atlantic lowered shares of Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 target price on the stock. in a research report on Wednesday, October 9th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $360.67.

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.