Truist Financial Corp Decreases Stake in Morningstar, Inc. (NASDAQ:MORN)

Truist Financial Corp cut its holdings in shares of Morningstar, Inc. (NASDAQ:MORN) by 7.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,526 shares of the business services provider’s stock after selling 278 shares during the quarter. Truist Financial Corp’s holdings in Morningstar were worth $1,043,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MORN. Blue Trust Inc. boosted its holdings in Morningstar by 326.9% in the 2nd quarter. Blue Trust Inc. now owns 111 shares of the business services provider’s stock worth $34,000 after buying an additional 85 shares during the period. Crewe Advisors LLC bought a new position in shares of Morningstar in the second quarter worth $35,000. DT Investment Partners LLC bought a new stake in shares of Morningstar during the 2nd quarter valued at $36,000. Acadian Asset Management LLC raised its stake in shares of Morningstar by 73.8% during the 2nd quarter. Acadian Asset Management LLC now owns 146 shares of the business services provider’s stock valued at $43,000 after purchasing an additional 62 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Morningstar by 38.6% during the 2nd quarter. GAMMA Investing LLC now owns 183 shares of the business services provider’s stock worth $54,000 after purchasing an additional 51 shares in the last quarter. Institutional investors own 57.02% of the company’s stock.

Morningstar Trading Up 1.8 %

Shares of MORN opened at $340.08 on Monday. Morningstar, Inc. has a 1-year low of $219.45 and a 1-year high of $340.97. The company has a market capitalization of $14.54 billion, a P/E ratio of 68.70 and a beta of 1.19. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.05 and a quick ratio of 1.05. The firm’s 50 day simple moving average is $314.49 and its 200 day simple moving average is $304.82.

Morningstar (NASDAQ:MORN) last posted its quarterly earnings data on Wednesday, July 24th. The business services provider reported $2.01 earnings per share for the quarter. Morningstar had a net margin of 11.34% and a return on equity of 22.34%. The firm had revenue of $571.90 million for the quarter.

Morningstar Announces Dividend

The company 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 annualized dividend and a dividend yield of 0.48%. Morningstar’s dividend payout ratio (DPR) is presently 32.73%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. BMO Capital Markets reiterated an “outperform” rating and set a $352.00 price target on shares of Morningstar in a research report on Wednesday, August 28th. Redburn Atlantic cut shares of Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 target price on the stock. in a research note on Wednesday, October 9th. Finally, UBS Group initiated coverage on shares of Morningstar in a research report on Tuesday, October 8th. They set a “buy” rating and a $390.00 price target for the company. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $360.67.

Insider Activity at Morningstar

In other Morningstar news, Chairman Joseph D. Mansueto sold 1,144 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chairman now owns 10,640,768 shares of the company’s stock, valued at $3,373,442,679.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Chairman Joseph D. Mansueto sold 1,144 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $317.03, for a total value of $362,682.32. Following the completion of the sale, the chairman now owns 10,640,768 shares of the company’s stock, valued at approximately $3,373,442,679.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Joseph D. Mansueto sold 9,062 shares of Morningstar stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $302.64, for a total transaction of $2,742,523.68. Following the completion of the transaction, the chairman now owns 10,631,706 shares in the company, valued at approximately $3,217,579,503.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,541 shares of company stock valued at $18,399,192. Corporate insiders own 39.90% of the company’s stock.

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.