California Public Employees Retirement System reduced its stake in Morningstar, Inc. (NASDAQ:MORN) by 1.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 48,968 shares of the business services provider’s stock after selling 603 shares during the period. California Public Employees Retirement System owned 0.12% of Morningstar worth $4,748,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its position in shares of Morningstar by 6.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,510 shares of the business services provider’s stock worth $118,000 after purchasing an additional 98 shares during the last quarter. US Bancorp DE boosted its position in shares of Morningstar by 5.3% in the 4th quarter. US Bancorp DE now owns 19,274 shares of the business services provider’s stock worth $1,869,000 after purchasing an additional 978 shares during the last quarter. Great West Life Assurance Co. Can boosted its position in shares of Morningstar by 75.4% in the 3rd quarter. Great West Life Assurance Co. Can now owns 2,725 shares of the business services provider’s stock worth $231,000 after purchasing an additional 1,171 shares during the last quarter. State of Alaska Department of Revenue bought a new position in shares of Morningstar in the 4th quarter worth $126,000. Finally, SG Americas Securities LLC bought a new position in shares of Morningstar in the 3rd quarter worth $128,000. Institutional investors and hedge funds own 40.72% of the company’s stock.
Morningstar, Inc. (NASDAQ MORN) opened at $97.74 on Tuesday. Morningstar, Inc. has a 12-month low of $68.43 and a 12-month high of $103.46. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.64 and a quick ratio of 1.64. The stock has a market capitalization of $4,133.79, a price-to-earnings ratio of 30.64 and a beta of 0.69.
The business also recently declared a quarterly dividend, which will be paid on Friday, April 27th. Stockholders of record on Friday, April 6th will be given a $0.25 dividend. The ex-dividend date is Thursday, April 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.02%. Morningstar’s dividend payout ratio is currently 31.35%.
Morningstar declared that its board has authorized a stock 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. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.
Separately, BidaskClub upgraded Morningstar from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, January 3rd.
In other Morningstar news, Director Steven N. Kaplan sold 2,500 shares of Morningstar stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $96.91, for a total transaction of $242,275.00. Following the transaction, the director now directly owns 42,021 shares in the company, valued at $4,072,255.11. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Gail S. Landis sold 1,531 shares of Morningstar stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $95.46, for a total value of $146,149.26. Following the transaction, the director now owns 5,350 shares in the company, valued at $510,711. The disclosure for this sale can be found here. Insiders own 57.40% of the company’s stock.
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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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