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

Corebridge Financial Inc. cut its holdings in shares of Morningstar, Inc. (NASDAQ:MORN) by 4.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,875 shares of the business services provider’s stock after selling 1,353 shares during the period. Corebridge Financial Inc. owned about 0.07% of Morningstar worth $10,397,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Congress Wealth Management LLC DE lifted its holdings in shares of Morningstar by 8.4% during the fourth quarter. Congress Wealth Management LLC DE now owns 10,010 shares of the business services provider’s stock worth $3,371,000 after purchasing an additional 773 shares during the period. Vanguard Group Inc. lifted its holdings in Morningstar by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 2,803,611 shares of the business services provider’s stock worth $944,144,000 after buying an additional 51,598 shares during the period. LPL Financial LLC grew its position in shares of Morningstar by 13.6% in the 4th quarter. LPL Financial LLC now owns 5,092 shares of the business services provider’s stock valued at $1,715,000 after buying an additional 610 shares during the last quarter. Fox Run Management L.L.C. increased its stake in shares of Morningstar by 228.4% in the fourth quarter. Fox Run Management L.L.C. now owns 4,811 shares of the business services provider’s stock valued at $1,620,000 after buying an additional 3,346 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Morningstar during the fourth quarter worth about $1,886,000. 57.02% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Chairman Joseph D. Mansueto sold 9,062 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $282.25, for a total transaction of $2,557,749.50. Following the completion of the sale, the chairman now owns 10,038,270 shares in the company, valued at $2,833,301,707.50. The trade was a 0.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders have sold 59,544 shares of company stock valued at $18,770,097. 39.90% of the stock is owned by company insiders.

Morningstar Price Performance

Morningstar stock opened at $300.74 on Thursday. The stock has a market capitalization of $12.88 billion, a price-to-earnings ratio of 39.73 and a beta of 1.23. Morningstar, Inc. has a 52-week low of $278.64 and a 52-week high of $365.00. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.14 and a current ratio of 1.14. The stock’s 50 day moving average price is $314.49 and its two-hundred day moving average price is $327.95.

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

Morningstar Increases Dividend

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

Analysts Set New Price Targets

Several analysts recently commented on the company. StockNews.com cut Morningstar from a “buy” rating to a “hold” rating in a report on Wednesday. BMO Capital Markets decreased their price objective on shares of Morningstar from $387.00 to $370.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd.

About Morningstar

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.