Bank of New York Mellon Corp Lowers Stake in Morningstar, Inc. (NASDAQ:MORN)

Posted by Defense World Staff on Mar 10th, 2023

Bank of New York Mellon Corp cut its position in Morningstar, Inc. (NASDAQ:MORN – Get Rating) by 2.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 289,155 shares of the business services provider’s stock after selling 7,571 shares during the period. Bank of New York Mellon Corp owned about 0.68% of Morningstar worth $61,394,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Mayflower Financial Advisors LLC bought a new stake in Morningstar during the third quarter valued at about $324,000. Wakefield Asset Management LLLP bought a new stake in Morningstar during the 2nd quarter valued at approximately $125,000. O Shaughnessy Asset Management LLC lifted its holdings in Morningstar by 28.6% in the 2nd quarter. O Shaughnessy Asset Management LLC now owns 1,116 shares of the business services provider’s stock worth $270,000 after purchasing an additional 248 shares in the last quarter. Sei Investments Co. boosted its stake in Morningstar by 7.5% in the 2nd quarter. Sei Investments Co. now owns 82,602 shares of the business services provider’s stock worth $19,829,000 after purchasing an additional 5,748 shares during the period. Finally, Franklin Resources Inc. grew its holdings in Morningstar by 6.3% during the 2nd quarter. Franklin Resources Inc. now owns 22,956 shares of the business services provider’s stock valued at $5,551,000 after buying an additional 1,353 shares in the last quarter. 54.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Redburn Partners downgraded shares of Morningstar from a “buy” rating to a “neutral” rating in a report on Wednesday, January 11th.

Insiders Place Their Bets

In related news, Chairman Joseph D. Mansueto sold 1,260 shares of Morningstar stock in a transaction dated Wednesday, December 14th. The stock was sold at an average price of $232.98, for a total value of $293,554.80. Following the completion of the transaction, the chairman now owns 11,729,730 shares in the company, valued at $2,732,792,495.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Chairman Joseph D. Mansueto sold 1,260 shares of Morningstar stock in a transaction that occurred on Wednesday, December 14th. The stock was sold at an average price of $232.98, for a total value of $293,554.80. Following the completion of the transaction, the chairman now owns 11,729,730 shares in the company, valued at approximately $2,732,792,495.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Joseph D. Mansueto sold 8,620 shares of the stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $207.18, for a total value of $1,785,891.60. Following the sale, the chairman now owns 11,514,073 shares in the company, valued at approximately $2,385,485,644.14. The disclosure for this sale can be found here. Insiders sold 135,540 shares of company stock valued at $29,621,700 in the last three months. Corporate insiders own 45.70% of the company’s stock.

Morningstar Trading Down 2.9 %

MORN stock opened at $201.12 on Friday. The firm has a fifty day moving average price of $230.66 and a 200 day moving average price of $228.95. Morningstar, Inc. has a fifty-two week low of $200.10 and a fifty-two week high of $293.64. The firm has a market cap of $8.54 billion, a PE ratio of 123.39 and a beta of 1.19. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.92 and a current ratio of 0.92.

Morningstar Company Profile

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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.

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Institutional Ownership by Quarter for Morningstar (NASDAQ:MORN)

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