Federated Hermes Inc. Decreases Stake in Morningstar, Inc. (NASDAQ:MORN)

Federated Hermes Inc. lowered its holdings in Morningstar, Inc. (NASDAQ:MORN) by 16.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,951 shares of the business services provider’s stock after selling 591 shares during the quarter. Federated Hermes Inc.’s holdings in Morningstar were worth $845,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. CWM LLC increased its position in Morningstar by 42.7% during the third quarter. CWM LLC now owns 284 shares of the business services provider’s stock valued at $67,000 after acquiring an additional 85 shares during the last quarter. Exchange Traded Concepts LLC purchased a new stake in Morningstar during the third quarter valued at $48,000. Xponance Inc. increased its position in Morningstar by 63.8% during the third quarter. Xponance Inc. now owns 5,758 shares of the business services provider’s stock valued at $1,349,000 after acquiring an additional 2,243 shares during the last quarter. Raymond James & Associates increased its position in Morningstar by 0.7% during the third quarter. Raymond James & Associates now owns 18,690 shares of the business services provider’s stock valued at $4,378,000 after acquiring an additional 128 shares during the last quarter. Finally, Simon Quick Advisors LLC increased its position in Morningstar by 36.2% during the third quarter. Simon Quick Advisors LLC now owns 3,314 shares of the business services provider’s stock valued at $776,000 after acquiring an additional 880 shares during the last quarter. Hedge funds and other institutional investors own 57.02% of the company’s stock.

Insider Transactions at Morningstar

In other news, Director Steven N. Kaplan sold 1,250 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $306.81, for a total value of $383,512.50. Following the completion of the transaction, the director now owns 44,427 shares of the company’s stock, valued at $13,630,647.87. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Steven N. Kaplan sold 1,250 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $306.81, for a total value of $383,512.50. Following the completion of the transaction, the director now owns 44,427 shares of the company’s stock, valued at $13,630,647.87. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Joseph D. Mansueto sold 12,650 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $298.12, for a total value of $3,771,218.00. Following the completion of the transaction, the chairman now directly owns 10,859,171 shares of the company’s stock, valued at approximately $3,237,336,058.52. The disclosure for this sale can be found here. Insiders sold a total of 88,618 shares of company stock valued at $25,798,460 over the last 90 days. Company insiders own 37.70% of the company’s stock.

Wall Street Analyst Weigh In

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

Morningstar Stock Performance

Shares of MORN opened at $287.34 on Thursday. The company has a quick ratio of 0.93, a current ratio of 0.98 and a debt-to-equity ratio of 0.66. The business has a 50-day simple moving average of $301.80 and a two-hundred day simple moving average of $281.73. The stock has a market cap of $12.28 billion, a price-to-earnings ratio of 58.05 and a beta of 1.15. Morningstar, Inc. has a 52 week low of $178.81 and a 52 week high of $316.05.

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

Morningstar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, April 5th were paid a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date was Thursday, April 4th. Morningstar’s dividend payout ratio (DPR) is 32.73%.

Morningstar Company Profile

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.