Wells Fargo & Company MN lifted its holdings in Morningstar, Inc. (NASDAQ:MORN) by 3.2% in the fourth quarter, Holdings Channel reports. The fund owned 164,740 shares of the business services provider’s stock after purchasing an additional 5,117 shares during the quarter. Wells Fargo & Company MN’s holdings in Morningstar were worth $15,974,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the stock. The Manufacturers Life Insurance Company lifted its holdings 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 valued at $118,000 after acquiring an additional 98 shares during the last quarter. US Bancorp DE lifted its holdings 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 valued at $1,869,000 after acquiring an additional 978 shares during the last quarter. Great West Life Assurance Co. Can lifted its holdings 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 valued at $231,000 after acquiring 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 valued at about $126,000. Finally, SG Americas Securities LLC bought a new position in shares of Morningstar in the 3rd quarter valued at about $128,000. 40.72% of the stock is owned by hedge funds and other institutional investors.
Morningstar, Inc. (NASDAQ MORN) opened at $98.22 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.64 and a quick ratio of 1.64. Morningstar, Inc. has a 1-year low of $68.43 and a 1-year high of $103.46. The company has a market cap of $4,133.79, a PE ratio of 30.79 and a beta of 0.69.
The firm 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 $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend is Thursday, April 5th. Morningstar’s payout ratio is 31.35%.
Morningstar announced that its Board of Directors has initiated a stock buyback 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 reacquire shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.
Separately, BidaskClub downgraded shares of Morningstar from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 11th.
In other Morningstar news, Director Steven N. Kaplan sold 2,500 shares of the firm’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $96.91, for a total value of $242,275.00. Following the completion of the sale, 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 the SEC website. Also, Director Gail S. Landis sold 1,531 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $95.46, for a total transaction of $146,149.26. Following the completion of the sale, the director now directly owns 5,350 shares of the company’s stock, valued at approximately $510,711. The disclosure for this sale can be found here. 57.40% of the stock is currently owned by company insiders.
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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.
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