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

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

Several other large investors have also recently bought and sold shares of MORN. Sei Investments Co. boosted 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 purchasing an additional 1,884 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of 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 purchasing an additional 1,482 shares during the period. Whittier Trust Co. lifted its stake in shares of 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 purchasing an additional 106 shares during the period. Teacher Retirement System of Texas boosted its holdings in 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 buying an additional 24,325 shares in the last quarter. Finally, Xponance Inc. grew its position in 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 buying an additional 165 shares during the period. Hedge funds and other institutional investors own 57.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on MORN shares. BMO Capital Markets reduced their price target on shares of Morningstar from $387.00 to $370.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd. StockNews.com cut Morningstar from a “buy” rating to a “hold” rating in a report on Wednesday.

Insider Activity at Morningstar

In related news, Chairman Joseph D. Mansueto sold 9,062 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $326.86, for a total value of $2,962,005.32. Following the completion of the transaction, the chairman now owns 10,109,617 shares of the company’s stock, valued at approximately $3,304,429,412.62. The trade was a 0.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 59,544 shares of company stock valued at $18,770,097 over the last quarter. Insiders own 39.90% of the company’s stock.

Morningstar Stock Performance

Shares of MORN opened at $302.01 on Friday. Morningstar, Inc. has a 12-month low of $278.64 and a 12-month high of $365.00. The stock has a market cap of $12.94 billion, a P/E ratio of 39.90 and a beta of 1.23. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.55. The company has a 50-day moving average of $313.96 and a two-hundred day moving average of $327.77.

Morningstar (NASDAQ:MORN) last issued its quarterly earnings data on Wednesday, February 26th. The business services provider reported $2.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.15. Morningstar had a net margin of 14.69% and a return on equity of 23.28%. The business had revenue of $591.00 million during the quarter, compared to analysts’ expectations of $580.81 million.

Morningstar Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be given a $0.455 dividend. 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%. The ex-dividend date of this dividend is Friday, April 4th. Morningstar’s dividend payout ratio 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.