Principal Financial Group Inc. Takes $219,000 Position in Morningstar, Inc. (MORN)

Principal Financial Group Inc. purchased a new position in shares of Morningstar, Inc. (NASDAQ:MORN) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,582 shares of the business services provider’s stock, valued at approximately $219,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Copeland Capital Management LLC grew its position in Morningstar by 1.6% in the 3rd quarter. Copeland Capital Management LLC now owns 163,793 shares of the business services provider’s stock valued at $13,921,000 after buying an additional 2,657 shares in the last quarter. Aperio Group LLC grew its position in Morningstar by 137.8% in the 3rd quarter. Aperio Group LLC now owns 21,071 shares of the business services provider’s stock valued at $1,791,000 after buying an additional 12,210 shares in the last quarter. Cardinal Capital Management grew its position in Morningstar by 10.3% in the 3rd quarter. Cardinal Capital Management now owns 14,839 shares of the business services provider’s stock valued at $1,261,000 after buying an additional 1,389 shares in the last quarter. First Trust Advisors LP bought a new position in Morningstar in the 3rd quarter valued at about $2,975,000. Finally, Fisher Asset Management LLC bought a new position in Morningstar in the 3rd quarter valued at about $3,221,000. Institutional investors and hedge funds own 38.65% of the company’s stock.

In other Morningstar news, Director Gail S. Landis sold 500 shares of the company’s stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $85.00, for a total value of $42,500.00. Following the completion of the sale, the director now directly owns 7,381 shares of the company’s stock, valued at approximately $627,385. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven N. Kaplan sold 2,500 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $91.85, for a total transaction of $229,625.00. Following the completion of the sale, the director now directly owns 44,821 shares of the company’s stock, valued at $4,116,808.85. The disclosure for this sale can be found here. Insiders sold a total of 23,500 shares of company stock valued at $2,024,825 in the last quarter. 57.40% of the stock is currently owned by insiders.

Morningstar, Inc. (NASDAQ MORN) opened at $97.54 on Monday. The stock has a market cap of $4,148.38, a PE ratio of 37.09 and a beta of 0.78. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.69 and a quick ratio of 1.69. Morningstar, Inc. has a 12-month low of $68.43 and a 12-month high of $97.85.

Morningstar announced that its Board of Directors has authorized a share buyback plan on Friday, December 8th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the business services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, January 5th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date is Thursday, January 4th. This is a positive change from Morningstar’s previous quarterly dividend of $0.23. Morningstar’s dividend payout ratio is currently 23.53%.

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Morningstar Company Profile

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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Institutional Ownership by Quarter for Morningstar (NASDAQ:MORN)

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