Morningstar, Inc. (NASDAQ:MORN) Chairman Sells $2,155,062.50 in Stock

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph D. Mansueto sold 7,250 shares of the company’s stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $297.25, for a total transaction of $2,155,062.50. Following the completion of the transaction, the chairman now owns 9,495,705 shares in the company, valued at approximately $2,822,598,311.25. The trade was a 0.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Morningstar Stock Down 0.4%

NASDAQ:MORN opened at $303.80 on Monday. Morningstar, Inc. has a 1-year low of $250.34 and a 1-year high of $365.00. The company has a 50-day moving average of $286.30 and a 200 day moving average of $317.91. The firm has a market cap of $12.84 billion, a PE ratio of 40.13 and a beta of 0.99. 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 (NASDAQ:MORN) last released its quarterly earnings data on Wednesday, April 30th. The business services provider reported $2.23 earnings per share for the quarter, topping analysts’ consensus estimates of $2.10 by $0.13. Morningstar had a net margin of 14.69% and a return on equity of 23.28%. The company had revenue of $581.90 million during the quarter, compared to analyst estimates of $589.07 million.

Morningstar Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Friday, April 4th were paid a $0.455 dividend. The ex-dividend date was Friday, April 4th. This is a positive change from Morningstar’s previous quarterly dividend of $0.41. This represents a $1.82 dividend on an annualized basis and a yield of 0.60%. Morningstar’s dividend payout ratio is 20.45%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on MORN shares. StockNews.com upgraded shares of Morningstar from a “hold” rating to a “buy” rating in a report on Friday, May 2nd. BMO Capital Markets cut their price target on shares of Morningstar from $387.00 to $370.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd.

Institutional Trading of Morningstar

A number of hedge funds have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. lifted its stake in Morningstar by 0.7% in the fourth quarter. Harbor Capital Advisors Inc. now owns 5,626 shares of the business services provider’s stock worth $1,895,000 after acquiring an additional 37 shares during the period. Deutsche Bank AG lifted its stake in Morningstar by 2.4% in the fourth quarter. Deutsche Bank AG now owns 1,798 shares of the business services provider’s stock worth $605,000 after acquiring an additional 42 shares during the period. Ballentine Partners LLC lifted 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 last quarter. V Square Quantitative Management LLC lifted its position in shares of Morningstar by 49.5% during the fourth quarter. V Square Quantitative Management LLC now owns 139 shares of the business services provider’s stock valued at $47,000 after buying an additional 46 shares during the last quarter. Finally, UMB Bank n.a. lifted its position in shares of Morningstar by 10.5% during the first quarter. UMB Bank n.a. now owns 516 shares of the business services provider’s stock valued at $155,000 after buying an additional 49 shares during the last quarter. 57.02% of the stock is owned by hedge funds and other 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.