PEAK6 Investments L.P. Trims Holdings in Morningstar, Inc. (MORN)

PEAK6 Investments L.P. decreased its stake in shares of Morningstar, Inc. (NASDAQ:MORN) by 38.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,568 shares of the business services provider’s stock after selling 3,532 shares during the period. PEAK6 Investments L.P.’s holdings in Morningstar were worth $540,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. State of Alaska Department of Revenue bought a new position in Morningstar in the fourth quarter valued at $126,000. Advisor Group Inc. lifted its stake in Morningstar by 57.3% in the fourth quarter. Advisor Group Inc. now owns 1,449 shares of the business services provider’s stock valued at $141,000 after acquiring an additional 528 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Morningstar in the third quarter valued at $128,000. The Manufacturers Life Insurance Company lifted its stake in Morningstar by 6.9% in the second quarter. The Manufacturers Life Insurance Company now owns 1,510 shares of the business services provider’s stock valued at $118,000 after acquiring an additional 98 shares during the last quarter. Finally, Atria Investments LLC acquired a new stake in Morningstar in the fourth quarter valued at $203,000. 40.72% of the stock is owned by institutional investors.

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In related news, Director Gail S. Landis sold 1,531 shares of Morningstar stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $95.46, for a total transaction of $146,149.26. Following the sale, the director now directly owns 5,350 shares of the company’s stock, valued at approximately $510,711. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 57.40% of the company’s stock.

Shares of Morningstar stock opened at $96.15 on Friday. Morningstar, Inc. has a twelve month low of $68.43 and a twelve month high of $103.46. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $4,068.35, a price-to-earnings ratio of 34.56 and a beta of 0.66.

Morningstar (NASDAQ:MORN) last released its earnings results on Tuesday, February 20th. The business services provider reported $0.91 EPS for the quarter. Morningstar had a net margin of 15.02% and a return on equity of 15.64%. The firm had revenue of $243.10 million for the quarter.

Morningstar announced that its board has authorized a share buyback program on Friday, December 8th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the business services provider to purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Friday, April 27th. Investors of record on Friday, April 6th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Thursday, April 5th.

Separately, BidaskClub cut shares of Morningstar from a “buy” rating to a “hold” rating in a research note on Wednesday, January 24th.

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Morningstar 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.

Institutional Ownership by Quarter for Morningstar (NASDAQ:MORN)

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