California Public Employees Retirement System increased its holdings in shares of Morningstar, Inc. (NASDAQ:MORN) by 3.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 49,571 shares of the business services provider’s stock after acquiring an additional 1,671 shares during the period. California Public Employees Retirement System owned about 0.12% of Morningstar worth $4,213,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of MORN. Vanguard Group Inc. raised its stake in shares of Morningstar by 0.5% in the second quarter. Vanguard Group Inc. now owns 1,392,952 shares of the business services provider’s stock worth $109,124,000 after acquiring an additional 6,364 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Morningstar by 81.8% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 712,933 shares of the business services provider’s stock worth $60,592,000 after buying an additional 320,835 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Morningstar by 0.8% during the second quarter. Renaissance Technologies LLC now owns 591,100 shares of the business services provider’s stock worth $46,307,000 after buying an additional 4,900 shares during the last quarter. Epoch Investment Partners Inc. raised its stake in shares of Morningstar by 0.8% during the second quarter. Epoch Investment Partners Inc. now owns 366,207 shares of the business services provider’s stock worth $28,689,000 after buying an additional 3,033 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Morningstar by 11.7% during the third quarter. Dimensional Fund Advisors LP now owns 352,135 shares of the business services provider’s stock worth $29,928,000 after buying an additional 36,914 shares during the last quarter. Institutional investors and hedge funds own 38.66% of the company’s stock.
Shares of Morningstar, Inc. (NASDAQ MORN) opened at $98.34 on Thursday. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.26. Morningstar, Inc. has a 1 year low of $68.43 and a 1 year high of $99.11. The company has a market cap of $4,107.94, a price-to-earnings ratio of 25.15 and a beta of 0.77.
Morningstar (NASDAQ:MORN) last issued its quarterly earnings data on Wednesday, October 25th. The business services provider reported $0.79 earnings per share for the quarter. Morningstar had a net margin of 19.11% and a return on equity of 15.43%.
Morningstar declared that its Board of Directors has initiated a share repurchase plan on Friday, December 8th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the business services provider to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, January 5th will be paid a $0.25 dividend. The ex-dividend date is Thursday, January 4th. This is an increase from Morningstar’s previous quarterly dividend of $0.23. This represents a $1.00 annualized dividend and a dividend yield of 1.02%. Morningstar’s dividend payout ratio is 25.58%.
In other news, Director Steven N. Kaplan sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $96.91, for a total value of $242,275.00. Following the sale, the director now directly owns 42,021 shares in the company, valued at approximately $4,072,255.11. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gail S. Landis sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $87.00, for a total transaction of $43,500.00. Following the completion of the sale, the director now owns 47,921 shares in the company, valued at $4,169,127. The disclosure for this sale can be found here. Insiders sold 25,500 shares of company stock worth $2,224,600 over the last 90 days. 57.40% of the stock is currently owned by corporate insiders.
Separately, BidaskClub upgraded shares of Morningstar from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 3rd.
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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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