KLP Kapitalforvaltning AS Buys New Stake in Morningstar, Inc. (NASDAQ:MORN)

KLP Kapitalforvaltning AS purchased a new position in shares of Morningstar, Inc. (NASDAQ:MORN) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,600 shares of the business services provider’s stock, valued at approximately $1,886,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sei Investments Co. lifted its position in shares of Morningstar by 1.4% during the 4th quarter. Sei Investments Co. now owns 136,939 shares of the business services provider’s stock worth $46,115,000 after buying an additional 1,884 shares during the last quarter. American Century Companies Inc. lifted its position in Morningstar by 22.4% in the fourth quarter. American Century Companies Inc. now owns 8,111 shares of the business services provider’s stock valued at $2,731,000 after acquiring an additional 1,482 shares during the last quarter. Whittier Trust Co. boosted its stake in Morningstar by 64.2% in the fourth quarter. Whittier Trust Co. now owns 271 shares of the business services provider’s stock valued at $91,000 after acquiring an additional 106 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in shares of Morningstar by 288.7% during the fourth quarter. Teacher Retirement System of Texas now owns 32,751 shares of the business services provider’s stock worth $11,029,000 after purchasing an additional 24,325 shares during the last quarter. Finally, Xponance Inc. grew its holdings in shares of Morningstar by 3.1% during the fourth quarter. Xponance Inc. now owns 5,431 shares of the business services provider’s stock worth $1,829,000 after purchasing an additional 165 shares during the last quarter. 57.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MORN has been the subject of several research reports. BMO Capital Markets reduced their target price on Morningstar from $387.00 to $370.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. StockNews.com cut Morningstar from a “buy” rating to a “hold” rating in a research note on Wednesday.

Insider Activity at Morningstar

In other news, Chairman Joseph D. Mansueto sold 3,635 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $325.44, for a total value of $1,182,974.40. Following the completion of the sale, the chairman now owns 10,142,694 shares in the company, valued at approximately $3,300,838,335.36. This trade represents a 0.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 59,544 shares of company stock worth $18,770,097 in the last three months. Insiders own 39.90% of the company’s stock.

Morningstar Price Performance

Shares of NASDAQ:MORN opened at $302.01 on Friday. Morningstar, Inc. has a one year low of $278.64 and a one year high of $365.00. The stock has a market capitalization of $12.94 billion, a price-to-earnings ratio of 39.90 and a beta of 1.23. The company has a 50-day simple moving average of $313.96 and a 200-day simple moving average of $327.77. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.14 and a current ratio of 1.14.

Morningstar (NASDAQ:MORN) last posted its quarterly earnings data on Wednesday, February 26th. The business services provider reported $2.14 EPS for the quarter, beating the consensus estimate of $1.99 by $0.15. Morningstar had a return on equity of 23.28% and a net margin of 14.69%. The firm had revenue of $591.00 million during the quarter, compared to the consensus estimate of $580.81 million.

Morningstar Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 4th will be issued a dividend of $0.455 per share. The ex-dividend date of this dividend is Friday, April 4th. This is an increase from Morningstar’s previous quarterly dividend of $0.41. This represents a $1.82 annualized dividend and a dividend yield of 0.60%. Morningstar’s dividend payout ratio (DPR) is currently 21.24%.

About Morningstar

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.