Russell Investments Group Ltd. Grows Stock Holdings in Morningstar, Inc. (NASDAQ:MORN)

Russell Investments Group Ltd. increased its stake in shares of Morningstar, Inc. (NASDAQ:MORNGet Rating) by 60.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,470 shares of the business services provider’s stock after buying an additional 9,586 shares during the period. Russell Investments Group Ltd. owned about 0.06% of Morningstar worth $6,956,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in MORN. Select Equity Group L.P. boosted its holdings in Morningstar by 16.5% during the fourth quarter. Select Equity Group L.P. now owns 4,850,288 shares of the business services provider’s stock worth $1,658,750,000 after buying an additional 688,048 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of Morningstar in the fourth quarter valued at about $128,670,000. JPMorgan Chase & Co. lifted its holdings in shares of Morningstar by 20.5% in the fourth quarter. JPMorgan Chase & Co. now owns 576,347 shares of the business services provider’s stock valued at $197,104,000 after purchasing an additional 97,873 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Morningstar by 1,245.6% in the fourth quarter. SG Americas Securities LLC now owns 25,364 shares of the business services provider’s stock valued at $8,674,000 after purchasing an additional 23,479 shares in the last quarter. Finally, LMR Partners LLP lifted its holdings in shares of Morningstar by 32.6% in the fourth quarter. LMR Partners LLP now owns 90,393 shares of the business services provider’s stock valued at $30,914,000 after purchasing an additional 22,225 shares in the last quarter. Hedge funds and other institutional investors own 54.01% of the company’s stock.

Insider Activity

In other news, Director Robin Diamonte sold 600 shares of the business’s stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $241.00, for a total value of $144,600.00. Following the completion of the transaction, the director now owns 8,467 shares of the company’s stock, valued at $2,040,547. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Chairman Joseph D. Mansueto sold 14,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 14th. The shares were sold at an average price of $226.60, for a total transaction of $3,285,700.00. Following the completion of the transaction, the chairman now owns 12,437,745 shares of the company’s stock, valued at $2,818,393,017. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robin Diamonte sold 600 shares of the company’s stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $241.00, for a total transaction of $144,600.00. Following the transaction, the director now directly owns 8,467 shares of the company’s stock, valued at approximately $2,040,547. The disclosure for this sale can be found here. Insiders sold a total of 93,418 shares of company stock valued at $22,647,499 over the last 90 days. Insiders own 41.90% of the company’s stock.

Morningstar Stock Up 0.1 %

Shares of NASDAQ MORN opened at $249.19 on Tuesday. Morningstar, Inc. has a 12-month low of $218.25 and a 12-month high of $350.21. The company has a market capitalization of $10.59 billion, a PE ratio of 59.47 and a beta of 1.11. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.02 and a quick ratio of 1.02. The firm’s 50-day moving average is $241.17 and its two-hundred day moving average is $258.78.

Morningstar Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 29th. Stockholders of record on Friday, July 1st were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date was Thursday, June 30th. Morningstar’s dividend payout ratio is presently 34.37%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Morningstar from a “buy” rating to a “hold” rating in a report on Wednesday, April 13th.

Morningstar Profile

(Get Rating)

Morningstar, Inc provides independent investment research services in North America, Europe, Australia, and Asia. The company offers web-based tools; investment data, fundamental equity and manager research, private capital markets research, credit and fund rating, and index, as well as environmental, social, and governance (ESG) rating services; and investment offerings, including managed investment products, publicly listed and private companies, fixed income securities, and real-time global market data for financial advisors, asset managers, retirement plan providers and sponsors, and individual and institutional investors.

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