Renaissance Technologies LLC trimmed its stake in shares of Morningstar, Inc. (NASDAQ:MORN) by 1.9% during the fourth quarter, HoldingsChannel reports. The firm owned 557,900 shares of the business services provider’s stock after selling 10,900 shares during the period. Renaissance Technologies LLC’s holdings in Morningstar were worth $54,100,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Morningstar by 81.8% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 712,933 shares of the business services provider’s stock worth $60,592,000 after purchasing an additional 320,835 shares in the last quarter. Champlain Investment Partners LLC lifted its position in shares of Morningstar by 1.5% during the fourth quarter. Champlain Investment Partners LLC now owns 383,630 shares of the business services provider’s stock worth $37,201,000 after purchasing an additional 5,675 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Morningstar by 11.7% during the third quarter. Dimensional Fund Advisors LP now owns 352,135 shares of the business services provider’s stock worth $29,928,000 after purchasing an additional 36,914 shares in the last quarter. State Street Corp lifted its position in shares of Morningstar by 7.0% during the second quarter. State Street Corp now owns 286,049 shares of the business services provider’s stock worth $22,415,000 after purchasing an additional 18,730 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Morningstar by 0.6% in 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. Institutional investors own 40.72% of the company’s stock.
Morningstar, Inc. (NASDAQ MORN) opened at $97.48 on Thursday. Morningstar, Inc. has a twelve month low of $68.43 and a twelve month high of $103.46. The firm has a market cap of $4,174.17, a P/E ratio of 35.46 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 issued its earnings results on Tuesday, February 20th. The business services provider reported $0.91 EPS for the quarter. Morningstar had a net margin of 15.02% and a return on equity of 15.64%. The firm had revenue of $243.10 million during the quarter.
Morningstar announced that its Board of Directors has initiated a stock buyback program on Friday, December 8th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the business services provider to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are 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 paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.03%. The ex-dividend date is Thursday, April 5th. Morningstar’s payout ratio is presently 31.35%.
In other Morningstar news, Director Steven N. Kaplan sold 2,500 shares of the company’s stock in a transaction that occurred on 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gail S. Landis sold 1,531 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were 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 corporate insiders.
Separately, BidaskClub lowered shares of Morningstar from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 11th.
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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