Morningstar, Inc. (NASDAQ:MORN) Chairman Sells $2,974,329.64 in Stock

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph D. Mansueto sold 9,062 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $328.22, for a total transaction of $2,974,329.64. Following the transaction, the chairman now directly owns 10,845,718 shares in the company, valued at $3,559,781,561.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Morningstar Stock Performance

MORN traded up $2.32 on Monday, hitting $330.73. 140,572 shares of the stock traded hands, compared to its average volume of 115,621. The business has a fifty day moving average price of $323.12 and a two-hundred day moving average price of $308.13. The company has a current ratio of 1.14, a quick ratio of 1.05 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $14.18 billion, a PE ratio of 43.38 and a beta of 1.18. Morningstar, Inc. has a 52 week low of $259.50 and a 52 week high of $349.07.

Morningstar (NASDAQ:MORN) last released its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $2.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.01). The firm had revenue of $569.40 million for the quarter. Morningstar had a net margin of 14.69% and a return on equity of 23.28%.

Morningstar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were issued a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Friday, October 4th. Morningstar’s payout ratio is 21.40%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on MORN shares. UBS Group initiated coverage on Morningstar in a research note on Tuesday, October 8th. They set a “buy” rating and a $390.00 price target for the company. BMO Capital Markets reaffirmed an “outperform” rating and set a $352.00 price objective on shares of Morningstar in a report on Wednesday, August 28th. Finally, Redburn Atlantic lowered Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 target price on the stock. in a report on Wednesday, October 9th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Morningstar presently has an average rating of “Moderate Buy” and a consensus target price of $360.67.

Institutional Trading of Morningstar

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets lifted its position in shares of Morningstar by 104.2% during the 1st quarter. BNP Paribas Financial Markets now owns 6,114 shares of the business services provider’s stock worth $1,885,000 after buying an additional 3,120 shares during the period. Central Pacific Bank Trust Division bought a new stake in Morningstar during the 1st quarter worth approximately $979,000. Texas Permanent School Fund Corp increased its stake in shares of Morningstar by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 22,796 shares of the business services provider’s stock valued at $7,030,000 after buying an additional 298 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its position in Morningstar by 60.8% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 1,140 shares of the business services provider’s stock valued at $352,000 after acquiring an additional 431 shares in the last quarter. Finally, Quantbot Technologies LP increased its holdings in shares of Morningstar by 80.5% in the first quarter. Quantbot Technologies LP now owns 6,914 shares of the business services provider’s stock valued at $2,132,000 after purchasing an additional 3,083 shares in the last quarter. Institutional investors own 57.02% of the company’s stock.

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.