Morningstar (NASDAQ:MORN) Chairman Joseph Mansueto Sells 6,705 Shares

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph Mansueto sold 6,705 shares of the business’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $260.65, for a total transaction of $1,747,658.25. Following the completion of the transaction, the chairman directly owned 9,312,836 shares in the company, valued at $2,427,390,703.40. 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 can be accessed through this link.

Morningstar Price Performance

Shares of NASDAQ:MORN opened at $265.17 on Thursday. The company’s 50-day moving average is $282.98 and its 200 day moving average is $293.08. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.13 and a current ratio of 1.13. The company has a market capitalization of $11.18 billion, a P/E ratio of 28.24 and a beta of 0.96. Morningstar, Inc. has a fifty-two week low of $250.34 and a fifty-two week high of $365.00.

Morningstar (NASDAQ:MORN) last issued its quarterly earnings results on Wednesday, July 30th. The business services provider reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.19. The company had revenue of $605.10 million for the quarter, compared to the consensus estimate of $605.84 million. Morningstar had a net margin of 17.22% and a return on equity of 23.54%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. BMO Capital Markets upped their price objective on shares of Morningstar from $339.00 to $355.00 and gave the company an “outperform” rating in a report on Monday, May 12th. Wall Street Zen downgraded shares of Morningstar from a “buy” rating to a “hold” rating in a report on Saturday, July 5th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $361.67.

Institutional Investors Weigh In On Morningstar

Several hedge funds and other institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Morningstar by 23.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 178 shares of the business services provider’s stock valued at $53,000 after buying an additional 34 shares during the period. Deutsche Bank AG increased its position in shares of Morningstar by 2.4% during the fourth quarter. Deutsche Bank AG now owns 1,798 shares of the business services provider’s stock valued at $605,000 after buying an additional 42 shares during the period. Ballentine Partners LLC increased its position in shares of Morningstar by 3.4% during the first quarter. Ballentine Partners LLC now owns 1,290 shares of the business services provider’s stock valued at $387,000 after buying an additional 42 shares during the period. MAI Capital Management increased its position in shares of Morningstar by 37.8% in the first quarter. MAI Capital Management now owns 153 shares of the business services provider’s stock worth $46,000 after purchasing an additional 42 shares during the last quarter. Finally, Compound Planning Inc. increased its position in shares of Morningstar by 6.6% in the first quarter. Compound Planning Inc. now owns 777 shares of the business services provider’s stock worth $233,000 after purchasing an additional 48 shares during the last quarter. 57.02% of the stock is currently owned by institutional investors.

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.