Cigna Investments Inc. New Has $1,275,000 Stake in Morningstar, Inc. (MORN)
Cigna Investments Inc. New continued to hold its position in shares of Morningstar, Inc. (NASDAQ:MORN) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,280 shares of the business services provider’s stock at the end of the second quarter. Cigna Investments Inc. New’s holdings in Morningstar were worth $1,275,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in MORN. YHB Investment Advisors Inc. increased its position in shares of Morningstar by 16.0% in the second quarter. YHB Investment Advisors Inc. now owns 22,846 shares of the business services provider’s stock worth $1,790,000 after buying an additional 3,145 shares in the last quarter. Cardinal Capital Management increased its position in shares of Morningstar by 18.2% in the second quarter. Cardinal Capital Management now owns 13,450 shares of the business services provider’s stock worth $1,054,000 after buying an additional 2,073 shares in the last quarter. Sei Investments Co. increased its position in shares of Morningstar by 49.8% in the second quarter. Sei Investments Co. now owns 49,472 shares of the business services provider’s stock worth $3,875,000 after buying an additional 16,448 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado increased its position in shares of Morningstar by 0.9% in the second quarter. Public Employees Retirement Association of Colorado now owns 3,383 shares of the business services provider’s stock worth $265,000 after buying an additional 29 shares in the last quarter. Institutional investors and hedge funds own 38.89% of the company’s stock.
Shares of Morningstar, Inc. (MORN) opened at 82.23 on Thursday. Morningstar, Inc. has a 52-week low of $67.74 and a 52-week high of $84.68. The stock has a 50 day moving average price of $79.78 and a 200-day moving average price of $77.52. The firm has a market cap of $3.50 billion, a PE ratio of 21.58 and a beta of 0.75.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Friday, July 7th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend was Wednesday, July 5th. Morningstar’s payout ratio is 24.08%.
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Separately, BidaskClub cut Morningstar from a “hold” rating to a “sell” rating in a research report on Friday, June 9th.
In other Morningstar news, insider Bevin Desmond sold 3,002 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $83.21, for a total transaction of $249,796.42. Following the transaction, the insider now owns 34,040 shares of the company’s stock, valued at $2,832,468.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Gail S. Landis sold 500 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $83.00, for a total value of $41,500.00. Following the transaction, the director now directly owns 7,881 shares in the company, valued at approximately $654,123. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,002 shares of company stock worth $332,401. Corporate insiders own 57.40% of the company’s stock.
Morningstar Company Profile
Morningstar, Inc is a provider of independent investment research in North America, Europe, Australia, and Asia. The Company focuses to create products that help investors reach their financial goals. It offers a range of data, software, research, and investment management offerings for financial advisors, asset managers, sponsors, and individual investors.
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