First Trust Advisors LP Has $8.91 Million Stake in Morningstar, Inc. (MORN)
First Trust Advisors LP lifted its stake in Morningstar, Inc. (NASDAQ:MORN) by 118.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,792 shares of the business services provider’s stock after purchasing an additional 38,359 shares during the period. First Trust Advisors LP owned 0.17% of Morningstar worth $8,913,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the company. Connable Office Inc. bought a new position in Morningstar in the 2nd quarter worth $215,000. Creative Planning bought a new position in Morningstar in the 2nd quarter worth $217,000. Spectrum Asset Management Inc. NB CA bought a new position in Morningstar in the 2nd quarter worth $231,000. Meeder Asset Management Inc. bought a new position in Morningstar in the 2nd quarter worth $272,000. Finally, State of Alaska Department of Revenue boosted its holdings in Morningstar by 25.6% in the 2nd quarter. State of Alaska Department of Revenue now owns 2,160 shares of the business services provider’s stock worth $277,000 after buying an additional 440 shares during the period. Hedge funds and other institutional investors own 39.81% of the company’s stock.
In other Morningstar news, insider Joseph D. Mansueto sold 18,438 shares of the stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $137.21, for a total transaction of $2,529,877.98. Following the completion of the transaction, the insider now owns 23,261,023 shares of the company’s stock, valued at approximately $3,191,644,965.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph D. Mansueto sold 24,784 shares of the stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $135.53, for a total transaction of $3,358,975.52. Following the transaction, the insider now directly owns 23,291,620 shares of the company’s stock, valued at approximately $3,156,713,258.60. The disclosure for this sale can be found here. Insiders have sold a total of 336,804 shares of company stock valued at $44,608,855 in the last three months. Insiders own 57.50% of the company’s stock.
MORN opened at $121.62 on Wednesday. Morningstar, Inc. has a 52 week low of $87.83 and a 52 week high of $144.34. The stock has a market cap of $5.32 billion, a price-to-earnings ratio of 33.42 and a beta of 0.76. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.10.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 31st. Shareholders of record on Wednesday, October 17th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.82%. The ex-dividend date was Tuesday, October 16th.
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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.
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