California Public Employees Retirement System cut its holdings in shares of Morningstar, Inc. (NASDAQ:MORN) by 1.2% during the 4th quarter, HoldingsChannel reports. 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’s holdings in Morningstar were worth $4,748,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. State of Alaska Department of Revenue bought a new position in Morningstar during the fourth quarter worth about $126,000. SG Americas Securities LLC bought a new position in Morningstar during the third quarter worth about $128,000. The Manufacturers Life Insurance Company lifted its holdings in Morningstar by 6.9% during the second quarter. The Manufacturers Life Insurance Company now owns 1,510 shares of the business services provider’s stock worth $118,000 after acquiring an additional 98 shares in the last quarter. Atria Investments LLC bought a new position in Morningstar during the fourth quarter worth about $203,000. Finally, Eagle Ridge Investment Management bought a new position in Morningstar during the fourth quarter worth about $219,000. Hedge funds and other institutional investors own 40.72% of the company’s stock.
In other Morningstar news, 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 sale, the director now owns 5,350 shares of the company’s stock, valued at approximately $510,711. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven N. Kaplan sold 2,500 shares of Morningstar 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 directly owns 42,021 shares in the company, valued at approximately $4,072,255.11. The disclosure for this sale can be found here. Company insiders own 57.40% of the company’s stock.
Shares of 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 stock has a market capitalization of $4,133.79, a PE ratio of 30.64 and a beta of 0.69. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.22.
Morningstar (NASDAQ:MORN) last released its quarterly earnings results on Tuesday, February 20th. The business services provider reported $0.91 earnings per share (EPS) for the quarter. Morningstar had a return on equity of 15.64% and a net margin of 15.02%. The firm had revenue of $243.10 million for the quarter.
Morningstar announced that its board has initiated a stock buyback plan 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 reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, April 27th. Shareholders of record on Friday, April 6th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend is Thursday, April 5th. Morningstar’s dividend payout ratio is 31.35%.
WARNING: “Morningstar, Inc. (MORN) Holdings Trimmed by California Public Employees Retirement System” was posted by Ticker Report and is the property of of Ticker Report. If you are accessing this report on another publication, it was illegally stolen and republished in violation of United States & international copyright law. The correct version of this report can be accessed at https://www.tickerreport.com/banking-finance/3258867/morningstar-inc-morn-holdings-trimmed-by-california-public-employees-retirement-system.html.
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.
Want to see what other hedge funds are holding MORN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Morningstar, Inc. (NASDAQ:MORN).
Receive News & Ratings for Morningstar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Morningstar and related companies with MarketBeat.com's FREE daily email newsletter.