Dimensional Fund Advisors LP Boosts Stake in Morningstar, Inc. (MORN)

Dimensional Fund Advisors LP lifted its position in Morningstar, Inc. (NASDAQ:MORN) by 11.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 352,135 shares of the business services provider’s stock after purchasing an additional 36,914 shares during the quarter. Dimensional Fund Advisors LP owned 0.83% of Morningstar worth $29,928,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. UBS Asset Management Americas Inc. boosted its holdings in Morningstar by 30.3% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 11,979 shares of the business services provider’s stock valued at $938,000 after acquiring an additional 2,783 shares during the period. Nationwide Fund Advisors boosted its holdings in Morningstar by 27.6% during the 2nd quarter. Nationwide Fund Advisors now owns 29,161 shares of the business services provider’s stock valued at $2,284,000 after acquiring an additional 6,310 shares during the period. Russell Investments Group Ltd. boosted its holdings in Morningstar by 30.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 127,784 shares of the business services provider’s stock valued at $10,860,000 after acquiring an additional 29,743 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Morningstar by 81.8% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 712,933 shares of the business services provider’s stock valued at $60,592,000 after acquiring an additional 320,835 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Morningstar by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 1,392,952 shares of the business services provider’s stock valued at $109,124,000 after acquiring an additional 6,364 shares during the period. Hedge funds and other institutional investors own 38.66% of the company’s stock.

In related news, Director Gail S. Landis sold 500 shares of the stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $87.00, for a total transaction of $43,500.00. Following the completion of the sale, the director now directly owns 47,921 shares in the company, valued at approximately $4,169,127. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven N. Kaplan sold 2,500 shares of the stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $91.85, for a total value of $229,625.00. Following the completion of the sale, the director now owns 44,821 shares of the company’s stock, valued at approximately $4,116,808.85. The disclosure for this sale can be found here. Insiders have sold a total of 25,500 shares of company stock valued at $2,224,600 over the last 90 days. 57.40% of the stock is currently owned by company insiders.

Shares of Morningstar, Inc. (MORN) opened at $96.59 on Wednesday. The firm has a market capitalization of $4,138.99, a PE ratio of 24.70 and a beta of 0.77. Morningstar, Inc. has a fifty-two week low of $68.43 and a fifty-two week high of $99.11. 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 (NASDAQ:MORN) last issued its earnings results on Wednesday, October 25th. The business services provider reported $0.79 earnings per share for the quarter. Morningstar had a return on equity of 15.43% and a net margin of 19.11%.

Morningstar announced that its board has authorized a stock repurchase program on Friday, December 8th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the business services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, January 5th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, January 4th. This is a boost from Morningstar’s previous quarterly dividend of $0.23. This represents a $1.00 annualized dividend and a yield of 1.04%. Morningstar’s dividend payout ratio is currently 25.58%.

Separately, BidaskClub cut Morningstar from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 11th.

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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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