Morningstar said it is still weighing acquisitions, partnerships and internal development as it looks for growth opportunities, but did not point to any specific deal.
On capital allocation, the company said its priorities remain unchanged: maintaining a strong balance sheet, investing in organic growth, pursuing acquisitions that can create long-term shareholder value, growing the dividend over time and buying back shares when it sees fit.
The company also gave a clearer picture of board turnover. It has added five new directors since 2017, including Anne Bramman in early 2026, who brings more than 30 years of finance, operations, strategy and transformation experience. Morningstar said its board refresh process includes reviewing composition and skills regularly and balancing shorter* and longer-tenured members.
One director, Gail Landis, reached the company’s retirement age policy and stepped down after 13 years on the board, choosing not to stand for re-election at the 2026 annual meeting. Morningstar said its mandatory retirement age for directors is 73, and that age limit applies after 10 years of board service. Following these announcements, the company's shares moved -1.95%, and are now trading at a price of $196.41. Check out the company's full 8-K submission here.
