Morningstar, Inc. (NASDAQ:MORN) Chairman Sells $3,219,003.64 in Stock

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph D. Mansueto sold 9,062 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $355.22, for a total transaction of $3,219,003.64. Following the transaction, the chairman now owns 10,738,224 shares in the company, valued at approximately $3,814,431,929.28. The trade was a 0.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Morningstar Trading Up 0.3 %

Shares of NASDAQ MORN opened at $355.65 on Thursday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.55. Morningstar, Inc. has a twelve month low of $269.51 and a twelve month high of $359.50. The company’s fifty day moving average is $334.69 and its 200-day moving average is $314.24. The stock has a market cap of $15.25 billion, a price-to-earnings ratio of 46.98 and a beta of 1.18.

Morningstar (NASDAQ:MORN) last posted its earnings results on Wednesday, October 23rd. The business services provider reported $2.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.01). The business had revenue of $569.40 million during the quarter. Morningstar had a net margin of 14.69% and a return on equity of 23.28%.

Morningstar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were issued a dividend of $0.405 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $1.62 annualized dividend and a yield of 0.46%. Morningstar’s dividend payout ratio (DPR) is currently 21.40%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. BMO Capital Markets restated an “outperform” rating and issued a $352.00 price objective on shares of Morningstar in a report on Wednesday, August 28th. UBS Group started coverage on Morningstar in a research note on Tuesday, October 8th. They issued a “buy” rating and a $390.00 price target on the stock. Redburn Atlantic cut Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 price objective for the company. in a research note on Wednesday, October 9th. Finally, StockNews.com cut Morningstar from a “buy” rating to a “hold” rating in a report on Saturday, November 23rd. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $360.67.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. M&G Plc lifted its position in Morningstar by 2.0% in the 2nd quarter. M&G Plc now owns 173,105 shares of the business services provider’s stock valued at $51,239,000 after acquiring an additional 3,322 shares in the last quarter. Tidal Investments LLC acquired a new position in shares of Morningstar during the first quarter worth about $1,207,000. Victory Capital Management Inc. boosted its position in shares of Morningstar by 12.7% during the third quarter. Victory Capital Management Inc. now owns 15,843 shares of the business services provider’s stock worth $5,056,000 after buying an additional 1,789 shares during the period. Harbor Capital Advisors Inc. grew its holdings in shares of Morningstar by 295.4% during the second quarter. Harbor Capital Advisors Inc. now owns 2,637 shares of the business services provider’s stock worth $780,000 after buying an additional 1,970 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in Morningstar in the 2nd quarter valued at approximately $9,366,000. Institutional investors and hedge funds own 57.02% of the company’s stock.

Morningstar Company Profile

Morningstar, Inc provides independent investment insights in the United States, Asia. Australia, Continental Europe, the United Kingdom, and internationally. The company operates in five segments: Morningstar Data and Analytics; PitchBook; Morningstar Wealth; Morningstar Credit; and Morningstar Retirement.