Joseph D. Mansueto Sells 7,486 Shares of Morningstar, Inc. (NASDAQ:MORN) Stock

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph D. Mansueto sold 7,486 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $298.30, for a total value of $2,233,073.80. Following the completion of the transaction, the chairman now directly owns 10,733,826 shares in the company, valued at $3,201,900,295.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Morningstar Trading Down 1.3 %

NASDAQ MORN opened at $295.94 on Thursday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.66. Morningstar, Inc. has a 52 week low of $185.10 and a 52 week high of $316.05. The business has a 50 day moving average price of $302.10 and a 200-day moving average price of $284.04. The company has a market cap of $12.65 billion, a price-to-earnings ratio of 59.79 and a beta of 1.15.

Morningstar (NASDAQ:MORN) last posted its earnings results on Wednesday, April 24th. The business services provider reported $1.73 EPS for the quarter. Morningstar had a net margin of 10.13% and a return on equity of 21.79%. The company had revenue of $542.80 million during the quarter.

Morningstar Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Friday, April 5th were given a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend was Thursday, April 4th. Morningstar’s payout ratio is currently 32.73%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MORN. Raymond James & Associates grew its holdings in shares of Morningstar by 0.7% in the third quarter. Raymond James & Associates now owns 18,690 shares of the business services provider’s stock valued at $4,378,000 after acquiring an additional 128 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Morningstar by 43.2% during the third quarter. Bank of New York Mellon Corp now owns 389,627 shares of the business services provider’s stock worth $91,266,000 after buying an additional 117,514 shares during the last quarter. New York State Teachers Retirement System bought a new stake in Morningstar in the third quarter worth about $1,312,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Morningstar by 14.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,065 shares of the business services provider’s stock valued at $1,186,000 after acquiring an additional 650 shares during the last quarter. Finally, Park Avenue Securities LLC bought a new position in shares of Morningstar during the 3rd quarter valued at approximately $279,000. 57.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on MORN shares. TheStreet raised Morningstar from a “c” rating to a “b” rating in a research note on Friday, February 23rd. StockNews.com upgraded shares of Morningstar from a “hold” rating to a “buy” rating in a research report on Thursday, February 29th.

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.