Kayne Anderson Rudnick Investment Management LLC Boosts Stake in Morningstar, Inc. (MORN)
Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Morningstar, Inc. (NASDAQ:MORN) by 81.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 712,933 shares of the business services provider’s stock after buying an additional 320,835 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned 1.68% of Morningstar worth $60,592,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. UBS Asset Management Americas Inc. lifted its position in Morningstar by 30.3% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 11,979 shares of the business services provider’s stock valued at $938,000 after acquiring an additional 2,783 shares during the period. Nationwide Fund Advisors boosted its position in shares of Morningstar by 27.6% in the second quarter. Nationwide Fund Advisors now owns 29,161 shares of the business services provider’s stock worth $2,284,000 after purchasing an additional 6,310 shares during the period. Nicholas Company Inc. boosted its position in shares of Morningstar by 17.0% in the second quarter. Nicholas Company Inc. now owns 63,580 shares of the business services provider’s stock worth $4,980,000 after purchasing an additional 9,230 shares during the period. Vanguard Group Inc. boosted its position in shares of Morningstar by 0.5% in the second quarter. Vanguard Group Inc. now owns 1,392,952 shares of the business services provider’s stock worth $109,124,000 after purchasing an additional 6,364 shares during the period. Finally, YHB Investment Advisors Inc. boosted its position in shares of Morningstar by 16.0% in the second quarter. YHB Investment Advisors Inc. now owns 22,846 shares of the business services provider’s stock worth $1,790,000 after purchasing an additional 3,145 shares during the period. 39.30% of the stock is currently owned by institutional investors.
Separately, BidaskClub upgraded shares of Morningstar from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 14th.
TRADEMARK VIOLATION WARNING: “Kayne Anderson Rudnick Investment Management LLC Boosts Stake in Morningstar, Inc. (MORN)” was originally posted by Daily Political and is owned by of Daily Political. If you are viewing this story on another publication, it was stolen and republished in violation of U.S. & international trademark and copyright law. The correct version of this story can be viewed at https://www.dailypolitical.com/2017/11/16/kayne-anderson-rudnick-investment-management-llc-boosts-stake-in-morningstar-inc-morn.html.
In related news, Director Jack Noonan sold 20,000 shares of the company’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $85.46, for a total transaction of $1,709,200.00. Following the sale, the director now owns 3,344 shares of the company’s stock, valued at $285,778.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Gail S. Landis sold 500 shares of the company’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 sale, the director now directly owns 47,921 shares in the company, valued at approximately $4,169,127. The disclosure for this sale can be found here. Insiders sold 21,000 shares of company stock worth $1,795,200 in the last three months. Insiders own 57.40% of the company’s stock.
Morningstar, Inc. (NASDAQ:MORN) traded down $0.55 during mid-day trading on Thursday, hitting $88.26. 55,200 shares of the stock traded hands, compared to its average volume of 61,434. Morningstar, Inc. has a 1 year low of $68.43 and a 1 year high of $89.45. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.69 and a quick ratio of 1.69. The stock has a market capitalization of $3,777.06, a P/E ratio of 33.77 and a beta of 0.75.
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Wednesday, October 18th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend was Tuesday, October 17th. Morningstar’s dividend payout ratio (DPR) is presently 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.
Receive News & Ratings for Morningstar Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Morningstar Inc. and related companies with MarketBeat.com's FREE daily email newsletter.