Nuveen Asset Management LLC Has $19.32 Million Holdings in Morningstar, Inc. (NASDAQ:MORN)

Posted by Defense World Staff on Mar 4th, 2023

Nuveen Asset Management LLC cut its holdings in shares of Morningstar, Inc. (NASDAQ:MORN – Get Rating) by 1.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 91,005 shares of the business services provider’s stock after selling 1,225 shares during the quarter. Nuveen Asset Management LLC owned about 0.21% of Morningstar worth $19,322,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Pinnacle Financial Partners Inc. acquired a new position in shares of Morningstar during the third quarter worth approximately $25,000. IMA Wealth Inc. acquired a new position in shares of Morningstar during the second quarter worth approximately $48,000. Cullen Frost Bankers Inc. acquired a new position in shares of Morningstar during the third quarter worth approximately $42,000. Quadrant Capital Group LLC lifted its holdings in shares of Morningstar by 49.1% during the second quarter. Quadrant Capital Group LLC now owns 498 shares of the business services provider’s stock worth $120,000 after buying an additional 164 shares during the last quarter. Finally, Wakefield Asset Management LLLP acquired a new position in shares of Morningstar during the second quarter worth approximately $125,000. 54.79% of the stock is currently owned by institutional investors and hedge funds.

Morningstar Stock Performance

Shares of NASDAQ MORN opened at $211.06 on Friday. The business has a fifty day simple moving average of $231.23 and a 200 day simple moving average of $230.24. The company has a current ratio of 0.92, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $8.97 billion, a price-to-earnings ratio of 129.49 and a beta of 1.19. Morningstar, Inc. has a one year low of $200.10 and a one year high of $293.64.

Morningstar Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 31st. Investors of record on Friday, January 6th were paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.71%. This is a positive change from Morningstar’s previous quarterly dividend of $0.36. The ex-dividend date was Thursday, January 5th. Morningstar’s dividend payout ratio is presently 92.03%.

Analysts Set New Price Targets

Separately, Redburn Partners lowered Morningstar from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 11th.

Insider Activity at Morningstar

In other Morningstar news, Chairman Joseph D. Mansueto sold 14,500 shares of the stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $207.07, for a total transaction of $3,002,515.00. Following the completion of the transaction, the chairman now directly owns 11,555,781 shares in the company, valued at $2,392,855,571.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Morningstar news, Chairman Joseph D. Mansueto sold 12,982 shares of the stock in a transaction on Monday, February 27th. The stock was sold at an average price of $207.50, for a total transaction of $2,693,765.00. Following the completion of the transaction, the chairman now directly owns 11,582,699 shares in the company, valued at $2,403,410,042.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Joseph D. Mansueto sold 14,500 shares of the stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $207.07, for a total value of $3,002,515.00. Following the transaction, the chairman now owns 11,555,781 shares of the company’s stock, valued at $2,392,855,571.67. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 105,345 shares of company stock worth $23,320,157. 45.70% of the stock is owned by corporate insiders.

About Morningstar

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Morningstar, Inc engages in the provision of investment research. It offers Morningstar data, direct, investment management, advisor workstation, workplace solutions, pitchbook data, enterprise components, research, credit ratings and indexes. The company was founded by Joseph D. Mansueto on May 16, 1984, and is headquartered in Chicago, IL.