Morningstar, Inc. (MORN) Director Sells $242,275.00 in Stock

Morningstar, Inc. (NASDAQ:MORN) Director Steven N. Kaplan sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $96.91, for a total transaction of $242,275.00. Following the completion of the transaction, the director now owns 42,021 shares of the company’s stock, valued at $4,072,255.11. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Shares of Morningstar, Inc. (NASDAQ MORN) traded down $0.49 during midday trading on Friday, reaching $96.69. 82,100 shares of the company were exchanged, compared to its average volume of 61,446. Morningstar, Inc. has a 52 week low of $68.43 and a 52 week high of $99.11. The stock has a market cap of $4,133.04, a price-to-earnings ratio of 36.95 and a beta of 0.78. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.69 and a current ratio of 1.69.

Morningstar declared that its Board of Directors has authorized a share repurchase program on Friday, December 8th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the business services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, January 5th will be issued a $0.25 dividend. This is a positive change from Morningstar’s previous quarterly dividend of $0.23. This represents a $1.00 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend is Thursday, January 4th. Morningstar’s payout ratio is presently 23.53%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Parametric Portfolio Associates LLC raised its holdings in Morningstar by 0.8% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 209,169 shares of the business services provider’s stock worth $17,777,000 after acquiring an additional 1,726 shares during the last quarter. Neuberger Berman Group LLC grew its position in Morningstar by 31.8% in the 3rd quarter. Neuberger Berman Group LLC now owns 13,362 shares of the business services provider’s stock worth $1,136,000 after purchasing an additional 3,225 shares during the period. California Public Employees Retirement System grew its position in Morningstar by 3.5% in the 3rd quarter. California Public Employees Retirement System now owns 49,571 shares of the business services provider’s stock worth $4,213,000 after purchasing an additional 1,671 shares during the period. Cornerstone Capital Management Holdings LLC. bought a new stake in Morningstar in the 3rd quarter worth approximately $454,000. Finally, Stifel Financial Corp bought a new stake in Morningstar in the 3rd quarter worth approximately $280,000. Institutional investors own 38.65% of the company’s stock.

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Morningstar Company Profile

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.

Insider Buying and Selling by Quarter for Morningstar (NASDAQ:MORN)

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