Corebridge Financial Inc. Has $10.40 Million Holdings in Morningstar, Inc. (NASDAQ:MORN)

Corebridge Financial Inc. lowered its stake in shares of Morningstar, Inc. (NASDAQ:MORN) by 4.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 30,875 shares of the business services provider’s stock after selling 1,353 shares during the period. Corebridge Financial Inc.’s holdings in Morningstar were worth $10,397,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its position in shares of Morningstar by 2.1% during the third quarter. Geode Capital Management LLC now owns 497,411 shares of the business services provider’s stock valued at $158,772,000 after buying an additional 10,437 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Morningstar by 2.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 191,765 shares of the business services provider’s stock valued at $61,196,000 after buying an additional 5,045 shares during the last quarter. Quantbot Technologies LP lifted its stake in Morningstar by 259.3% during the 3rd quarter. Quantbot Technologies LP now owns 13,769 shares of the business services provider’s stock valued at $4,394,000 after acquiring an additional 9,937 shares in the last quarter. Smith Group Asset Management LLC purchased a new position in Morningstar during the 4th quarter worth $468,000. Finally, Oak Thistle LLC grew its stake in shares of Morningstar by 194.9% in the 4th quarter. Oak Thistle LLC now owns 4,276 shares of the business services provider’s stock worth $1,440,000 after acquiring an additional 2,826 shares in the last quarter. 57.02% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on MORN shares. StockNews.com lowered shares of Morningstar from a “buy” rating to a “hold” rating in a research report on Wednesday. BMO Capital Markets dropped their target price on shares of Morningstar from $387.00 to $370.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd.

Morningstar Trading Down 1.5 %

Shares of Morningstar stock opened at $300.74 on Thursday. The firm has a market cap of $12.88 billion, a PE ratio of 39.73 and a beta of 1.23. Morningstar, Inc. has a 1 year low of $278.64 and a 1 year high of $365.00. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.14 and a quick ratio of 1.14. The stock has a fifty day moving average price of $314.49 and a 200-day moving average price of $327.95.

Morningstar (NASDAQ:MORN) last posted its quarterly earnings data on Wednesday, February 26th. The business services provider reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.15. The business had revenue of $591.00 million during the quarter, compared to the consensus estimate of $580.81 million. Morningstar had a net margin of 14.69% and a return on equity of 23.28%.

Morningstar Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 4th will be issued a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend is Friday, April 4th. This is a boost from Morningstar’s previous quarterly dividend of $0.41. Morningstar’s payout ratio is 21.24%.

Insider Activity at Morningstar

In related news, Chairman Joseph D. Mansueto sold 3,635 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $325.44, for a total value of $1,182,974.40. Following the sale, the chairman now directly owns 10,142,694 shares in the company, valued at approximately $3,300,838,335.36. The trade was a 0.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders have sold 59,544 shares of company stock worth $18,770,097. Insiders own 39.90% of the company’s stock.

Morningstar 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.