Retirement Systems of Alabama Raises Holdings in Morningstar, Inc. (NASDAQ:MORN)

Retirement Systems of Alabama lifted its holdings in Morningstar, Inc. (NASDAQ:MORN) by 1.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,785 shares of the business services provider’s stock after buying an additional 603 shares during the quarter. Retirement Systems of Alabama’s holdings in Morningstar were worth $10,462,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CIBC Asset Management Inc increased its holdings in shares of Morningstar by 3.4% in the 3rd quarter. CIBC Asset Management Inc now owns 1,259 shares of the business services provider’s stock valued at $402,000 after purchasing an additional 41 shares in the last quarter. Legacy Advisors LLC lifted its position in shares of Morningstar by 1.6% during the 2nd quarter. Legacy Advisors LLC now owns 3,025 shares of the business services provider’s stock valued at $895,000 after acquiring an additional 49 shares during the period. Planning Alternatives Ltd. ADV boosted its stake in shares of Morningstar by 2.2% during the 3rd quarter. Planning Alternatives Ltd. ADV now owns 2,254 shares of the business services provider’s stock worth $719,000 after acquiring an additional 49 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Morningstar by 38.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 196 shares of the business services provider’s stock worth $58,000 after acquiring an additional 54 shares during the period. Finally, George Kaiser Family Foundation increased its position in shares of Morningstar by 0.7% in the second quarter. George Kaiser Family Foundation now owns 7,693 shares of the business services provider’s stock valued at $2,276,000 after buying an additional 55 shares in the last quarter. Institutional investors and hedge funds own 57.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Redburn Atlantic lowered shares of Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 price objective on the stock. in a research report on Wednesday, October 9th. UBS Group assumed coverage on Morningstar in a research report on Tuesday, October 8th. They issued a “buy” rating and a $390.00 price objective on the stock. BMO Capital Markets reiterated an “outperform” rating and set a $352.00 price objective on shares of Morningstar in a research report on Wednesday, August 28th. Finally, StockNews.com upgraded shares of Morningstar from a “hold” rating to a “buy” rating in a report on Thursday, December 12th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $360.67.

Insider Activity at Morningstar

In related news, Chairman Joseph D. Mansueto sold 9,062 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $355.22, for a total value of $3,219,003.64. Following the transaction, the chairman now directly owns 10,738,224 shares of the company’s stock, valued at approximately $3,814,431,929.28. This trade represents a 0.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Jason Dubinsky sold 3,223 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $352.88, for a total value of $1,137,332.24. Following the sale, the chief financial officer now directly owns 17,304 shares of the company’s stock, valued at approximately $6,106,235.52. This trade represents a 15.70 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,411 shares of company stock worth $17,961,104. 39.90% of the stock is owned by company insiders.

Morningstar Trading Up 0.7 %

Shares of Morningstar stock opened at $355.53 on Tuesday. Morningstar, Inc. has a fifty-two week low of $269.51 and a fifty-two week high of $365.00. The business’s fifty day moving average is $343.52 and its two-hundred day moving average is $319.33. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.55. The firm has a market cap of $15.25 billion, a PE ratio of 46.97 and a beta of 1.19.

Morningstar (NASDAQ:MORN) last released its earnings results on Wednesday, October 23rd. The business services provider reported $2.00 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.01). Morningstar had a net margin of 14.69% and a return on equity of 23.28%. The business had revenue of $569.40 million during the quarter.

Morningstar Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 3rd will be given a $0.455 dividend. The ex-dividend date is Friday, October 3rd. This is a boost from Morningstar’s previous quarterly dividend of $0.41. This represents a $1.82 annualized dividend and a dividend yield of 0.51%. Morningstar’s dividend payout ratio (DPR) is currently 24.04%.

Morningstar Company Profile

Morningstar, Inc provides independent investment insights in the United States, Asia. Australia, Continental Europe, the United Kingdom, and internationally. The company operates in five segments: Morningstar Data and Analytics; PitchBook; Morningstar Wealth; Morningstar Credit; and Morningstar Retirement.