Bank of New York Mellon Corp cut its holdings in Morningstar, Inc. (NASDAQ:MORN) by 47.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 167,172 shares of the business services provider’s stock after selling 150,219 shares during the period. Bank of New York Mellon Corp’s holdings in Morningstar were worth $21,439,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Creative Planning bought a new position in shares of Morningstar in the second quarter valued at approximately $217,000. Spectrum Asset Management Inc. NB CA bought a new position in shares of Morningstar in the second quarter valued at approximately $231,000. Meeder Asset Management Inc. bought a new position in shares of Morningstar in the second quarter valued at approximately $272,000. State of Alaska Department of Revenue grew its holdings in shares of Morningstar by 25.6% in the second quarter. State of Alaska Department of Revenue now owns 2,160 shares of the business services provider’s stock valued at $277,000 after acquiring an additional 440 shares in the last quarter. Finally, Xact Kapitalforvaltning AB bought a new position in shares of Morningstar in the second quarter valued at approximately $279,000. 39.62% of the stock is owned by institutional investors.
In related news, insider Bevin Desmond sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, July 30th. The stock was sold at an average price of $133.32, for a total value of $133,320.00. Following the transaction, the insider now owns 33,943 shares in the company, valued at $4,525,280.76. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Joseph D. Mansueto sold 22,354 shares of the company’s stock in a transaction that occurred on Monday, June 18th. The shares were sold at an average price of $130.75, for a total value of $2,922,785.50. Following the completion of the transaction, the insider now owns 23,421,210 shares in the company, valued at approximately $3,062,323,207.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 252,776 shares of company stock worth $34,366,961. 57.50% of the stock is owned by company insiders.
MORN stock opened at $138.35 on Friday. The company has a market capitalization of $5.87 billion, a PE ratio of 40.58 and a beta of 0.81. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.71 and a quick ratio of 1.71. Morningstar, Inc. has a 12-month low of $81.18 and a 12-month high of $144.34.
Morningstar (NASDAQ:MORN) last released its earnings results on Wednesday, July 25th. The business services provider reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.28. The company had revenue of $252.40 million during the quarter. Morningstar had a return on equity of 17.53% and a net margin of 16.15%.
Several equities analysts have recently issued reports on MORN shares. BidaskClub raised Morningstar from a “buy” rating to a “strong-buy” rating in a report on Friday, July 20th. ValuEngine raised Morningstar from a “hold” rating to a “buy” rating in a report on Saturday, June 2nd.
Morningstar, Inc provides independent investment research services in North America, Europe, Australia, and Asia. 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.
See Also: Fiduciary
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