M&T Bank Corp Decreases Position in Morningstar, Inc. (NASDAQ:MORN)

M&T Bank Corp cut its holdings in Morningstar, Inc. (NASDAQ:MORN) by 5.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,467 shares of the business services provider’s stock after selling 568 shares during the period. M&T Bank Corp’s holdings in Morningstar were worth $2,996,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Amalgamated Bank grew its holdings in Morningstar by 2.2% in the 4th quarter. Amalgamated Bank now owns 18,510 shares of the business services provider’s stock worth $5,298,000 after acquiring an additional 407 shares during the last quarter. Benjamin Edwards Inc. boosted its holdings in Morningstar by 12.3% in the fourth quarter. Benjamin Edwards Inc. now owns 1,052 shares of the business services provider’s stock valued at $301,000 after acquiring an additional 115 shares in the last quarter. Norden Group LLC increased its position in Morningstar by 7.5% during the 4th quarter. Norden Group LLC now owns 3,959 shares of the business services provider’s stock valued at $1,133,000 after purchasing an additional 276 shares during the period. Kestra Private Wealth Services LLC purchased a new stake in shares of Morningstar in the 4th quarter worth about $216,000. Finally, Retirement Systems of Alabama increased its position in shares of Morningstar by 0.4% during the fourth quarter. Retirement Systems of Alabama now owns 32,623 shares of the business services provider’s stock valued at $9,338,000 after buying an additional 135 shares during the period. 57.02% of the stock is owned by institutional investors.

Morningstar Price Performance

MORN opened at $299.86 on Wednesday. The firm has a market cap of $12.82 billion, a PE ratio of 60.58 and a beta of 1.15. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.98 and a quick ratio of 0.98. Morningstar, Inc. has a 1 year low of $185.10 and a 1 year high of $316.05. The stock has a 50-day moving average price of $302.16 and a 200-day moving average price of $283.95.

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

Morningstar Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, April 5th were given a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Thursday, April 4th. Morningstar’s dividend payout ratio (DPR) is 32.73%.

Analysts Set New Price Targets

Several analysts have weighed in on MORN shares. 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 research report on Thursday, February 29th.

Insider Activity

In other Morningstar news, Chairman Joseph D. Mansueto sold 7,481 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $282.08, for a total transaction of $2,110,240.48. Following the completion of the sale, the chairman now directly owns 10,908,710 shares in the company, valued at approximately $3,077,128,916.80. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Steven N. Kaplan sold 1,250 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $306.81, for a total value of $383,512.50. Following the transaction, the director now directly owns 44,427 shares of the company’s stock, valued at approximately $13,630,647.87. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Joseph D. Mansueto sold 7,481 shares of Morningstar stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $282.08, for a total value of $2,110,240.48. Following the transaction, the chairman now directly owns 10,908,710 shares in the company, valued at $3,077,128,916.80. The disclosure for this sale can be found here. Insiders have sold a total of 105,913 shares of company stock valued at $30,983,090 in the last 90 days. 37.70% of the stock is currently owned by insiders.

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.