Amalgamated Bank Reduces Stock Position in Morningstar, Inc. (NASDAQ:MORN)

Amalgamated Bank cut its stake in Morningstar, Inc. (NASDAQ:MORN) by 21.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,468 shares of the business services provider’s stock after selling 4,042 shares during the period. Amalgamated Bank’s holdings in Morningstar were worth $4,461,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in MORN. Vanguard Group Inc. lifted its holdings in Morningstar by 3.0% in the third quarter. Vanguard Group Inc. now owns 2,552,858 shares of the business services provider’s stock valued at $597,981,000 after acquiring an additional 75,275 shares during the last quarter. Barlow Wealth Partners Inc. acquired a new position in Morningstar in the fourth quarter valued at approximately $9,133,000. Allspring Global Investments Holdings LLC lifted its holdings in 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 valued at $81,693,000 after acquiring an additional 68,574 shares during the last quarter. Morgan Stanley lifted its stake in Morningstar by 1.0% during the third quarter. Morgan Stanley now owns 1,957,310 shares of the business services provider’s stock worth $458,481,000 after purchasing an additional 19,119 shares in the last quarter. Finally, Mutual of America Capital Management LLC acquired a new position in Morningstar during the third quarter worth $3,961,000. 57.02% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Morningstar news, Chairman Joseph D. Mansueto sold 6,198 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $298.80, for a total transaction of $1,851,962.40. Following the transaction, the chairman now owns 10,852,973 shares of the company’s stock, valued at $3,242,868,332.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Chairman Joseph D. Mansueto sold 9,935 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $296.94, for a total transaction of $2,950,098.90. Following the completion of the sale, the chairman now owns 10,832,014 shares in the company, valued at $3,216,458,237.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Joseph D. Mansueto sold 6,198 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $298.80, for a total transaction of $1,851,962.40. Following the sale, the chairman now owns 10,852,973 shares of the company’s stock, valued at approximately $3,242,868,332.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 104,007 shares of company stock valued at $31,052,209. 39.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

MORN has been the topic of a number of recent research reports. TheStreet raised Morningstar from a “c” rating to a “b” rating in a research report on Friday, February 23rd. StockNews.com raised Morningstar from a “hold” rating to a “buy” rating in a report on Thursday, February 29th.

Morningstar Stock Down 1.7 %

NASDAQ:MORN traded down $5.03 during trading hours on Thursday, hitting $294.15. The company’s stock had a trading volume of 61,706 shares, compared to its average volume of 120,344. The stock has a market capitalization of $12.57 billion, a P/E ratio of 59.61 and a beta of 1.15. The stock has a fifty day moving average of $300.68 and a 200-day moving average of $287.86. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.66. Morningstar, Inc. has a 52-week low of $185.15 and a 52-week high of $316.05.

Morningstar (NASDAQ:MORN) last posted its earnings results on Wednesday, April 24th. The business services provider reported $1.73 EPS for the quarter. The firm had revenue of $542.80 million for the quarter. Morningstar had a return on equity of 21.79% and a net margin of 10.13%.

Morningstar Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, April 5th were issued a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend was Thursday, April 4th. Morningstar’s payout ratio is 32.73%.

Morningstar Profile

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.