TIAA CREF Investment Management LLC trimmed its position in Morningstar, Inc. (NASDAQ:MORN) by 4.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 70,319 shares of the business services provider’s stock after selling 3,558 shares during the quarter. TIAA CREF Investment Management LLC owned approximately 0.17% of Morningstar worth $6,819,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company raised its holdings in shares of Morningstar by 6.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,510 shares of the business services provider’s stock valued at $118,000 after purchasing an additional 98 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of Morningstar in the 4th quarter valued at $126,000. SG Americas Securities LLC acquired a new stake in shares of Morningstar in the 3rd quarter valued at $128,000. Advisor Group Inc. raised its stake in Morningstar by 57.3% during the 4th quarter. Advisor Group Inc. now owns 1,449 shares of the business services provider’s stock worth $141,000 after acquiring an additional 528 shares in the last quarter. Finally, Atria Investments LLC acquired a new stake in Morningstar during the 4th quarter worth $203,000. Institutional investors and hedge funds own 40.72% of the company’s stock.
In related news, Director Gail S. Landis sold 1,531 shares of Morningstar stock in a transaction 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 sale, the director now directly owns 5,350 shares in the company, valued at approximately $510,711. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 57.40% of the stock is owned by company insiders.
Shares of NASDAQ:MORN opened at $98.01 on Friday. Morningstar, Inc. has a 12 month low of $68.43 and a 12 month high of $103.46. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.22. The firm has a market cap of $4,173.67, a P/E ratio of 35.42 and a beta of 0.66.
Morningstar (NASDAQ:MORN) last announced its quarterly 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 for the quarter.
The business also recently declared a quarterly dividend, which will be paid on Friday, April 27th. Investors of record on Friday, April 6th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, April 5th. This represents a $1.00 annualized dividend and a yield of 1.02%.
Separately, BidaskClub lowered shares of Morningstar from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 11th.
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Morningstar, Inc provides independent investment research services in North America, Europe, Australia, and Asia. It offers a line of data, research, and software tools on a range of investment offerings, including managed investment products, publicly listed companies, fixed income securities, private capital markets, and real-time global market data for financial advisors, asset managers, retirement plan providers and sponsors, and individual and institutional investors.
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