Meeder Asset Management Inc. Has $905,000 Stake in Morningstar, Inc. (MORN)

Meeder Asset Management Inc. grew its stake in Morningstar, Inc. (NASDAQ:MORN) by 239.4% in the 3rd quarter, Holdings Channel reports. The firm owned 7,195 shares of the business services provider’s stock after purchasing an additional 5,075 shares during the period. Meeder Asset Management Inc.’s holdings in Morningstar were worth $905,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. BlackRock Inc. lifted its stake in shares of Morningstar by 2.8% in the 2nd quarter. BlackRock Inc. now owns 783,368 shares of the business services provider’s stock valued at $100,467,000 after purchasing an additional 20,979 shares during the last quarter. FMR LLC lifted its stake in shares of Morningstar by 456.8% in the 2nd quarter. FMR LLC now owns 747,835 shares of the business services provider’s stock valued at $95,910,000 after purchasing an additional 613,534 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Morningstar by 10.1% during the 2nd quarter. Renaissance Technologies LLC now owns 600,900 shares of the business services provider’s stock worth $77,065,000 after acquiring an additional 55,000 shares during the last quarter. Royce & Associates LP lifted its stake in shares of Morningstar by 0.9% during the 2nd quarter. Royce & Associates LP now owns 599,492 shares of the business services provider’s stock worth $76,885,000 after acquiring an additional 5,100 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its stake in shares of Morningstar by 31.8% during the 3rd quarter. Wells Fargo & Company MN now owns 337,799 shares of the business services provider’s stock worth $42,529,000 after acquiring an additional 81,574 shares during the last quarter. 39.56% of the stock is owned by institutional investors and hedge funds.

Shares of MORN stock opened at $124.87 on Friday. Morningstar, Inc. has a 52-week low of $86.62 and a 52-week high of $144.34. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.82 and a quick ratio of 1.82. The company has a market cap of $5.31 billion, a P/E ratio of 33.37 and a beta of 0.76.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 31st. Investors of record on Wednesday, October 17th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend was Tuesday, October 16th.

Separately, BidaskClub lowered Morningstar from a “hold” rating to a “sell” rating in a research note on Thursday.

In related news, Director Gail S. Landis sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, October 29th. The stock was sold at an average price of $129.75, for a total transaction of $259,500.00. Following the completion of the sale, the director now directly owns 4,686 shares of the company’s stock, valued at approximately $608,008.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William M. Lyons sold 625 shares of the firm’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $133.54, for a total value of $83,462.50. Following the sale, the director now directly owns 16,752 shares of the company’s stock, valued at $2,237,062.08. The disclosure for this sale can be found here. Insiders have sold a total of 324,501 shares of company stock valued at $43,241,512 over the last three months. 57.50% of the stock is owned by corporate insiders.

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Morningstar Company Profile

Morningstar, Inc provides independent investment research services in North America, Europe, Australia, and Asia. It offers a line of data, research, and software tools on a range of investment offerings, including managed investment products, publicly listed companies, fixed income securities, private capital markets, and real-time global market data for financial advisors, asset managers, retirement plan providers and sponsors, and individual and institutional investors.

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Institutional Ownership by Quarter for Morningstar (NASDAQ:MORN)

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