Joseph D. Mansueto Sells 9,062 Shares of Morningstar, Inc. (NASDAQ:MORN) Stock

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph D. Mansueto sold 9,062 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $355.22, for a total transaction of $3,219,003.64. Following the completion of the sale, the chairman now owns 10,738,224 shares in the company, valued at $3,814,431,929.28. The trade was a 0.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Morningstar Trading Up 0.3 %

Shares of NASDAQ:MORN opened at $355.65 on Friday. The firm has a market capitalization of $15.25 billion, a price-to-earnings ratio of 46.98 and a beta of 1.18. The business’s 50 day moving average price is $335.39 and its 200-day moving average price is $314.53. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.14 and a quick ratio of 1.14. Morningstar, Inc. has a 1 year low of $269.51 and a 1 year high of $359.50.

Morningstar (NASDAQ:MORN) last announced its earnings results on Wednesday, October 23rd. The business services provider reported $2.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.01). The company 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 company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were paid 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%.

Hedge Funds Weigh In On Morningstar

Several hedge funds and other institutional investors have recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new position in Morningstar in the 3rd quarter valued at $30,000. Blue Trust Inc. grew its holdings in shares of Morningstar by 326.9% during the second quarter. Blue Trust Inc. now owns 111 shares of the business services provider’s stock worth $34,000 after buying an additional 85 shares in the last quarter. Crewe Advisors LLC acquired a new stake in shares of Morningstar in the second quarter valued at about $35,000. DT Investment Partners LLC purchased a new position in shares of Morningstar in the second quarter worth about $36,000. Finally, Venturi Wealth Management LLC boosted its position in Morningstar by 101.7% during the third quarter. Venturi Wealth Management LLC now owns 121 shares of the business services provider’s stock worth $39,000 after acquiring an additional 61 shares during the last quarter. Hedge funds and other institutional investors own 57.02% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on MORN. BMO Capital Markets reaffirmed an “outperform” rating and set a $352.00 price target on shares of Morningstar in a research report on Wednesday, August 28th. StockNews.com downgraded shares of Morningstar from a “buy” rating to a “hold” rating in a report on Saturday, November 23rd. 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 report on Wednesday, October 9th. Finally, UBS Group started coverage on shares of Morningstar in a research note on Tuesday, October 8th. They set a “buy” rating and a $390.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Morningstar presently has an average rating of “Moderate Buy” and an average target price of $360.67.

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.