Treasurer of the State of North Carolina Acquires 650 Shares of Morningstar, Inc. (NASDAQ:MORN)

Treasurer of the State of North Carolina raised its holdings in Morningstar, Inc. (NASDAQ:MORN) by 9.0% during the second quarter, Holdings Channel.com reports. The fund owned 7,880 shares of the business services provider’s stock after purchasing an additional 650 shares during the period. Treasurer of the State of North Carolina’s holdings in Morningstar were worth $1,140,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its stake in Morningstar by 0.5% in the second quarter. Vanguard Group Inc. now owns 1,682,328 shares of the business services provider’s stock valued at $243,332,000 after acquiring an additional 7,602 shares during the last quarter. FMR LLC boosted its stake in Morningstar by 26.5% in the first quarter. FMR LLC now owns 1,554,353 shares of the business services provider’s stock valued at $195,833,000 after acquiring an additional 325,848 shares during the last quarter. BlackRock Inc. boosted its stake in Morningstar by 8.5% in the second quarter. BlackRock Inc. now owns 885,567 shares of the business services provider’s stock valued at $128,087,000 after acquiring an additional 69,173 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Morningstar by 1.7% in the second quarter. JPMorgan Chase & Co. now owns 681,154 shares of the business services provider’s stock valued at $97,555,000 after acquiring an additional 11,227 shares during the last quarter. Finally, Mawer Investment Management Ltd. boosted its stake in Morningstar by 24.8% in the second quarter. Mawer Investment Management Ltd. now owns 483,300 shares of the business services provider’s stock valued at $69,905,000 after acquiring an additional 96,000 shares during the last quarter. 43.98% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Chairman Joseph D. Mansueto sold 8,435 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $151.78, for a total transaction of $1,280,264.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Joseph D. Mansueto sold 22,411 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $156.42, for a total transaction of $3,505,528.62. Following the sale, the insider now owns 21,629,592 shares in the company, valued at $3,383,300,780.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 335,183 shares of company stock worth $51,776,407. Insiders own 54.10% of the company’s stock.

Shares of NASDAQ MORN opened at $151.47 on Friday. The company’s fifty day moving average is $154.25 and its 200-day moving average is $145.29. The stock has a market cap of $6.48 billion, a price-to-earnings ratio of 38.17 and a beta of 0.79. Morningstar, Inc. has a twelve month low of $99.67 and a twelve month high of $162.53. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.01.

Morningstar (NASDAQ:MORN) last announced its quarterly earnings results on Thursday, July 25th. The business services provider reported $0.98 earnings per share for the quarter. The company had revenue of $273.90 million for the quarter. Morningstar had a net margin of 16.52% and a return on equity of 17.36%.

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 18th will be given a dividend of $0.28 per share. The ex-dividend date is Thursday, October 17th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.74%.

A number of brokerages have issued reports on MORN. ValuEngine cut shares of Morningstar from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. BidaskClub raised shares of Morningstar from a “strong sell” rating to a “sell” rating in a research report on Thursday.

About Morningstar

Morningstar, Inc provides independent investment research services in North America, Europe, Australia, Canada, Asia, and internationally. It offers a line of data, research, and software tools on a range of investment offerings, including managed investment products, publicly listed companies, fixed income securities, private capital markets, 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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Institutional Ownership by Quarter for Morningstar (NASDAQ:MORN)

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