Cornerstone Capital Management Holdings LLC. boosted its holdings in shares of Morningstar, Inc. (NASDAQ:MORN) by 63.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,747 shares of the business services provider’s stock after buying an additional 3,395 shares during the period. Cornerstone Capital Management Holdings LLC.’s holdings in Morningstar were worth $847,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of the stock. Champlain Investment Partners LLC raised its position in Morningstar by 1.5% during the fourth quarter. Champlain Investment Partners LLC now owns 383,630 shares of the business services provider’s stock valued at $37,201,000 after buying an additional 5,675 shares during the period. Dimensional Fund Advisors LP raised its position in Morningstar by 11.7% during the third quarter. Dimensional Fund Advisors LP now owns 352,135 shares of the business services provider’s stock valued at $29,928,000 after buying an additional 36,914 shares during the period. Geode Capital Management LLC raised its position in Morningstar by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 255,809 shares of the business services provider’s stock valued at $24,805,000 after buying an additional 1,635 shares during the period. Parametric Portfolio Associates LLC raised its position in Morningstar by 0.8% during the third quarter. Parametric Portfolio Associates LLC now owns 209,169 shares of the business services provider’s stock valued at $17,777,000 after buying an additional 1,726 shares during the period. Finally, American Capital Management Inc. raised its position in Morningstar by 2.3% during the fourth quarter. American Capital Management Inc. now owns 208,560 shares of the business services provider’s stock valued at $20,224,000 after buying an additional 4,655 shares during the period. 40.72% of the stock is currently owned by hedge funds and other institutional investors.
Shares of MORN stock opened at $95.52 on Monday. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.22. Morningstar, Inc. has a fifty-two week low of $68.43 and a fifty-two week high of $103.46. The stock has a market capitalization of $4,059.41, a price-to-earnings ratio of 34.48 and a beta of 0.69.
Morningstar declared that its Board of Directors has authorized a stock repurchase program on Friday, December 8th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the business services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 27th. Shareholders of record on Friday, April 6th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Thursday, April 5th.
In other Morningstar news, Director Gail S. Landis sold 1,531 shares of the company’s 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 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 SEC, which is accessible through the SEC website. Corporate insiders own 57.40% of the company’s stock.
Separately, BidaskClub raised Morningstar from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 22nd.
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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