Insider Selling: Morningstar, Inc. (NASDAQ:MORN) Chairman Sells $2,525,316.74 in Stock

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph D. Mansueto sold 7,222 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $349.67, for a total value of $2,525,316.74. Following the completion of the transaction, the chairman now owns 10,801,361 shares of the company’s stock, valued at $3,776,911,900.87. This trade represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Morningstar Price Performance

MORN opened at $342.99 on Friday. Morningstar, Inc. has a 52-week low of $264.79 and a 52-week high of $352.55. The company has a 50 day moving average of $328.13 and a two-hundred day moving average of $310.72. The company has a market cap of $14.71 billion, a P/E ratio of 45.31 and a beta of 1.18. 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 (NASDAQ:MORN) last announced its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $2.00 earnings per share for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.01). Morningstar had a return on equity of 23.28% and a net margin of 14.69%. The business had revenue of $569.40 million for the quarter.

Morningstar Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were paid a $0.405 dividend. The ex-dividend date was Friday, October 4th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 0.47%. Morningstar’s dividend payout ratio (DPR) is currently 21.40%.

Wall Street Analysts Forecast Growth

MORN has been the topic of several recent analyst reports. UBS Group initiated coverage on Morningstar in a research report on Tuesday, October 8th. They set a “buy” rating and a $390.00 target price on the stock. StockNews.com raised shares of Morningstar from a “hold” rating to a “buy” rating in a research report on Friday. BMO Capital Markets reaffirmed an “outperform” rating and set a $352.00 price target on shares of Morningstar in a research note on Wednesday, August 28th. Finally, Redburn Atlantic cut shares of 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. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $360.67.

Hedge Funds Weigh In On Morningstar

Several hedge funds and other institutional investors have recently bought and sold shares of MORN. Millennium Management LLC raised its stake in shares of Morningstar by 154.0% during the second quarter. Millennium Management LLC now owns 320,186 shares of the business services provider’s stock valued at $94,727,000 after purchasing an additional 194,122 shares during the period. M&G Plc acquired a new stake in Morningstar during the 1st quarter valued at $52,293,000. Massachusetts Financial Services Co. MA increased its stake in Morningstar by 9.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,201,708 shares of the business services provider’s stock worth $383,489,000 after buying an additional 102,206 shares during the period. Wasatch Advisors LP lifted its holdings in Morningstar by 13.9% in the 3rd quarter. Wasatch Advisors LP now owns 696,023 shares of the business services provider’s stock worth $222,115,000 after buying an additional 85,098 shares in the last quarter. Finally, Boston Financial Mangement LLC purchased a new position in Morningstar in the 3rd quarter valued at about $19,666,000. 57.02% of the stock is owned by institutional investors and hedge funds.

About Morningstar

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.