Neuberger Berman Group LLC boosted its position in shares of Morningstar, Inc. (NASDAQ:MORN) by 31.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,362 shares of the business services provider’s stock after purchasing an additional 3,225 shares during the period. Neuberger Berman Group LLC’s holdings in Morningstar were worth $1,136,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Morningstar by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 1,392,952 shares of the business services provider’s stock valued at $109,124,000 after purchasing an additional 6,364 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its holdings in Morningstar by 81.8% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 712,933 shares of the business services provider’s stock valued at $60,592,000 after purchasing an additional 320,835 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Morningstar by 0.8% during the 2nd quarter. Renaissance Technologies LLC now owns 591,100 shares of the business services provider’s stock valued at $46,307,000 after purchasing an additional 4,900 shares in the last quarter. Epoch Investment Partners Inc. grew its holdings in Morningstar by 0.8% during the 2nd quarter. Epoch Investment Partners Inc. now owns 366,207 shares of the business services provider’s stock valued at $28,689,000 after purchasing an additional 3,033 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Morningstar by 11.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 352,135 shares of the business services provider’s stock valued at $29,928,000 after purchasing an additional 36,914 shares in the last quarter. 38.65% of the stock is owned by institutional investors and hedge funds.
Morningstar, Inc. (NASDAQ:MORN) opened at $96.97 on Tuesday. The firm has a market cap of $4,124.11, a price-to-earnings ratio of 24.80 and a beta of 0.77. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.26. Morningstar, Inc. has a fifty-two week low of $68.43 and a fifty-two week high of $99.11.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, January 5th will be issued a dividend of $0.25 per share. This is a positive change from Morningstar’s previous quarterly dividend of $0.23. This represents a $1.00 annualized dividend and a yield of 1.03%. The ex-dividend date is Thursday, January 4th. Morningstar’s dividend payout ratio (DPR) is currently 23.53%.
Morningstar declared that its Board of Directors has authorized a stock buyback program on Friday, December 8th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
In other Morningstar news, Director Jack Noonan sold 20,000 shares of the firm’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $85.46, for a total transaction of $1,709,200.00. Following the completion of the transaction, the director now directly owns 3,344 shares of the company’s stock, valued at approximately $285,778.24. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Steven N. Kaplan sold 2,500 shares of the firm’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $91.85, for a total transaction of $229,625.00. Following the transaction, the director now directly owns 44,821 shares of the company’s stock, valued at $4,116,808.85. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,500 shares of company stock valued at $2,224,600. 57.40% of the stock is owned by company insiders.
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Morningstar, Inc is a provider of independent investment research in North America, Europe, Australia, and Asia. The Company focuses to create products that help investors reach their financial goals. It offers a range of data, software, research, and investment management offerings for financial advisors, asset managers, sponsors, and individual investors.
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