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

M&T Bank Corp trimmed its position in Morningstar, Inc. (NASDAQ:MORN) by 5.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of MORN. GAMMA Investing LLC acquired a new stake in Morningstar in the fourth quarter valued at $35,000. Harvest Fund Management Co. Ltd acquired a new stake in Morningstar in the 3rd quarter valued at about $42,000. Fifth Third Bancorp increased its holdings in Morningstar by 55.2% during the 3rd quarter. Fifth Third Bancorp now owns 194 shares of the business services provider’s stock valued at $45,000 after acquiring an additional 69 shares in the last quarter. CVA Family Office LLC acquired a new position in Morningstar during the fourth quarter worth about $65,000. Finally, CWM LLC lifted its holdings in shares of Morningstar by 14.1% in the fourth quarter. CWM LLC now owns 324 shares of the business services provider’s stock valued at $93,000 after purchasing an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 57.02% of the company’s stock.

Insider Transactions at Morningstar

In other news, Chairman Joseph D. Mansueto sold 7,668 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $278.69, for a total transaction of $2,136,994.92. Following the completion of the transaction, the chairman now directly owns 10,916,191 shares in the company, valued at approximately $3,042,233,269.79. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Steven N. Kaplan sold 1,250 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $306.81, for a total value of $383,512.50. Following the sale, the director now owns 44,427 shares in the company, valued at approximately $13,630,647.87. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Joseph D. Mansueto sold 7,668 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $278.69, for a total value of $2,136,994.92. Following the completion of the sale, the chairman now directly owns 10,916,191 shares of the company’s stock, valued at $3,042,233,269.79. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 105,913 shares of company stock valued at $30,983,090. 37.70% of the stock is currently owned by insiders.

Morningstar Stock Up 0.3 %

MORN opened at $299.86 on Wednesday. The company 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 quick ratio of 0.98 and a current ratio of 0.98. Morningstar, Inc. has a 1 year low of $185.10 and a 1 year high of $316.05. The firm has a 50 day moving average price of $302.16 and a 200 day moving average price of $283.95.

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

Morningstar Announces Dividend

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

Analyst Upgrades and Downgrades

MORN has been the topic of a number of analyst reports. TheStreet upgraded Morningstar from a “c” rating to a “b” rating in a report on Friday, February 23rd. StockNews.com raised Morningstar from a “hold” rating to a “buy” rating in a research note on Thursday, February 29th.

About Morningstar

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.