California State Teachers Retirement System lowered its holdings in Morningstar, Inc. (NASDAQ:MORN) by 3.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,166 shares of the business services provider’s stock after selling 1,328 shares during the period. California State Teachers Retirement System owned about 0.08% of Morningstar worth $2,676,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the stock. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of Morningstar by 20.8% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 392,098 shares of the business services provider’s stock valued at $30,717,000 after acquiring an additional 67,491 shares during the period. Dimensional Fund Advisors LP raised its stake in Morningstar by 19.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 315,221 shares of the business services provider’s stock worth $24,695,000 after purchasing an additional 50,747 shares in the last quarter. CI Global Investments Inc. raised its stake in Morningstar by 40.0% in the 2nd quarter. CI Global Investments Inc. now owns 175,000 shares of the business services provider’s stock worth $13,710,000 after purchasing an additional 50,000 shares in the last quarter. Black Creek Investment Management Inc. acquired a new stake in Morningstar in the 2nd quarter worth about $1,684,000. Finally, State Street Corp raised its stake in Morningstar by 7.0% in the 2nd quarter. State Street Corp now owns 286,049 shares of the business services provider’s stock worth $22,415,000 after purchasing an additional 18,730 shares in the last quarter. 38.61% of the stock is owned by institutional investors and hedge funds.
Separately, BidaskClub raised shares of Morningstar from a “buy” rating to a “strong-buy” rating in a report on Monday, August 14th.
In other news, Director Jack Noonan sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $85.46, for a total value of $1,709,200.00. Following the transaction, the director now owns 3,344 shares in the company, valued at approximately $285,778.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gail S. Landis sold 500 shares of the business’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $87.00, for a total transaction of $43,500.00. Following the transaction, the director now owns 47,921 shares in the company, valued at approximately $4,169,127. The disclosure for this sale can be found here. Insiders have sold a total of 21,000 shares of company stock worth $1,795,200 over the last three months. Insiders own 57.40% of the company’s stock.
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Shares of Morningstar, Inc. (NASDAQ MORN) opened at $89.34 on Monday. The stock has a market cap of $3,799.60, a P/E ratio of 33.97 and a beta of 0.75. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.26. Morningstar, Inc. has a 1-year low of $68.43 and a 1-year high of $89.64.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Wednesday, October 18th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend was Tuesday, October 17th. Morningstar’s payout ratio is 23.53%.
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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