Voya Investment Management LLC Sells 6,077 Shares of Morningstar, Inc. $MORN

Voya Investment Management LLC decreased its stake in shares of Morningstar, Inc. (NASDAQ:MORN) by 33.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,965 shares of the business services provider’s stock after selling 6,077 shares during the period. Voya Investment Management LLC’s holdings in Morningstar were worth $2,776,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Osterweis Capital Management Inc. purchased a new position in Morningstar during the 2nd quarter worth $29,000. IFP Advisors Inc lifted its position in shares of Morningstar by 270.3% during the second quarter. IFP Advisors Inc now owns 137 shares of the business services provider’s stock valued at $43,000 after purchasing an additional 100 shares in the last quarter. MAI Capital Management boosted its holdings in Morningstar by 37.8% during the first quarter. MAI Capital Management now owns 153 shares of the business services provider’s stock worth $46,000 after purchasing an additional 42 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Morningstar by 23.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 178 shares of the business services provider’s stock worth $53,000 after purchasing an additional 34 shares during the last quarter. Finally, American National Bank & Trust bought a new stake in Morningstar in the 2nd quarter worth about $57,000. Institutional investors own 57.02% of the company’s stock.

Analysts Set New Price Targets

MORN has been the topic of several recent analyst reports. UBS Group dropped their target price on shares of Morningstar from $350.00 to $320.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Morningstar in a report on Monday, December 22nd. Wall Street Zen upgraded Morningstar from a “hold” rating to a “buy” rating in a research note on Friday, November 28th. Finally, BMO Capital Markets set a $250.00 target price on Morningstar in a research report on Thursday, October 30th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $285.00.

Insider Buying and Selling

In other news, Chairman Joseph D. Mansueto sold 1,286 shares of Morningstar stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $213.12, for a total value of $274,072.32. Following the completion of the transaction, the chairman owned 8,600,815 shares in the company, valued at $1,833,005,692.80. This trade represents a 0.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 63,750 shares of company stock worth $13,537,223 over the last quarter. 36.20% of the stock is owned by corporate insiders.

Morningstar Price Performance

Morningstar stock opened at $219.06 on Friday. The business’s 50 day simple moving average is $214.65 and its 200 day simple moving average is $248.59. Morningstar, Inc. has a 12 month low of $202.89 and a 12 month high of $340.90. The company has a market cap of $9.01 billion, a price-to-earnings ratio of 24.92 and a beta of 1.11. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.56.

Morningstar (NASDAQ:MORN) last issued its earnings results on Wednesday, October 29th. The business services provider reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.42 by $0.13. Morningstar had a return on equity of 25.07% and a net margin of 15.70%.The firm had revenue of $617.40 million for the quarter, compared to analyst estimates of $603.29 million.

Morningstar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 2nd will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $2.00 annualized dividend and a yield of 0.9%. Morningstar’s dividend payout ratio is 20.71%.

Morningstar Company Profile

Morningstar, Inc is a leading provider of independent investment research, data, and analytics, serving both individual investors and financial professionals. The company offers comprehensive coverage of financial products, including mutual funds, exchange-traded funds (ETFs), stocks, bonds and market indexes. Morningstar’s proprietary rating systems and research methodologies help clients assess the risk and return profiles of investment opportunities and make informed decisions.

Its core products include Morningstar Direct, an institutional investment analysis platform; Morningstar Office Cloud, a portfolio management solution for advisors; and Morningstar Data, which delivers extensive datasets through APIs and data feeds.