Morningstar, Inc. (MORN) Holdings Lifted by Confluence Investment Management LLC

Confluence Investment Management LLC lifted its position in shares of Morningstar, Inc. (NASDAQ:MORN) by 2.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 141,134 shares of the business services provider’s stock after buying an additional 3,031 shares during the quarter. Confluence Investment Management LLC owned approximately 0.33% of Morningstar worth $13,685,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Parametric Portfolio Associates LLC increased its holdings in shares of 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 buying an additional 1,726 shares during the last quarter. Neuberger Berman Group LLC increased its holdings in shares of 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 buying an additional 3,225 shares during the last quarter. California Public Employees Retirement System grew its holdings in Morningstar by 3.5% during the 3rd quarter. California Public Employees Retirement System now owns 49,571 shares of the business services provider’s stock valued at $4,213,000 after purchasing an additional 1,671 shares during the last quarter. Cornerstone Capital Management Holdings LLC. bought a new position in Morningstar during the 3rd quarter valued at about $454,000. Finally, Stifel Financial Corp bought a new position in Morningstar during the 3rd quarter valued at about $280,000. Institutional investors own 38.66% of the company’s stock.

Morningstar, Inc. (NASDAQ MORN) opened at $97.32 on Tuesday. The company has a market cap of $4,138.99, a PE ratio of 24.89 and a beta of 0.77. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.26. Morningstar, Inc. has a fifty-two week low of $68.43 and a fifty-two week high of $99.11.

Morningstar (NASDAQ:MORN) last released its quarterly earnings data on Wednesday, October 25th. The business services provider reported $0.79 earnings per share (EPS) for the quarter. Morningstar had a net margin of 19.11% and a return on equity of 15.43%.

Morningstar declared that its Board of Directors has initiated a share buyback plan on Friday, December 8th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the business services provider to buy shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, January 5th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Thursday, January 4th. This is a boost from Morningstar’s previous quarterly dividend of $0.23. Morningstar’s dividend payout ratio is presently 25.58%.

In related news, Director Steven N. Kaplan sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $91.85, for a total transaction of $229,625.00. Following the completion of the transaction, the director now owns 44,821 shares in the company, valued at approximately $4,116,808.85. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gail S. Landis sold 500 shares of the business’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $87.00, for a total transaction of $43,500.00. Following the transaction, the director now owns 47,921 shares of the company’s stock, valued at approximately $4,169,127. The disclosure for this sale can be found here. Insiders sold a total of 25,500 shares of company stock valued at $2,224,600 in the last ninety days. Corporate insiders own 57.40% of the company’s stock.

Separately, BidaskClub upgraded shares of Morningstar from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 3rd.

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About Morningstar

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.

Institutional Ownership by Quarter for Morningstar (NASDAQ:MORN)

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