3,650 Shares in Morningstar, Inc. (MORN) Acquired by Catalyst Capital Advisors LLC
Catalyst Capital Advisors LLC bought a new stake in Morningstar, Inc. (NASDAQ:MORN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,650 shares of the business services provider’s stock, valued at approximately $354,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MORN. Alliancebernstein L.P. lifted its position in Morningstar by 2.4% during the second quarter. Alliancebernstein L.P. now owns 11,334 shares of the business services provider’s stock worth $888,000 after buying an additional 270 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Morningstar by 56.8% during the second quarter. Ameriprise Financial Inc. now owns 7,173 shares of the business services provider’s stock worth $562,000 after buying an additional 2,599 shares in the last quarter. UBS Asset Management Americas Inc. lifted its position in Morningstar by 30.3% during the second quarter. UBS Asset Management Americas Inc. now owns 11,979 shares of the business services provider’s stock worth $938,000 after buying an additional 2,783 shares in the last quarter. Vanguard Group Inc. lifted its position in Morningstar by 0.5% during the second quarter. Vanguard Group Inc. now owns 1,392,952 shares of the business services provider’s stock worth $109,124,000 after buying an additional 6,364 shares in the last quarter. Finally, California Public Employees Retirement System lifted its position in Morningstar by 3.5% during the second quarter. California Public Employees Retirement System now owns 47,900 shares of the business services provider’s stock worth $3,752,000 after buying an additional 1,600 shares in the last quarter. Institutional investors and hedge funds own 38.38% of the company’s stock.
In related news, Director Steven N. Kaplan sold 2,500 shares of Morningstar stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $96.91, for a total transaction of $242,275.00. Following the transaction, the director now owns 42,021 shares in the company, valued at $4,072,255.11. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 57.40% of the company’s stock.
Morningstar, Inc. (NASDAQ:MORN) opened at $97.35 on Thursday. Morningstar, Inc. has a 1 year low of $68.43 and a 1 year high of $103.46. The company has a market capitalization of $4,036.50, a P/E ratio of 36.09 and a beta of 0.69. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.69 and a current ratio of 1.69.
Morningstar declared that its Board of Directors has approved a share buyback program 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 reacquire shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Investors of record on Friday, January 5th were given a dividend of $0.25 per share. This is an increase from Morningstar’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Thursday, January 4th. This represents a $1.00 dividend on an annualized basis and a yield of 1.03%. Morningstar’s dividend payout ratio (DPR) is presently 25.58%.
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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