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

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph D. Mansueto sold 9,062 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $348.45, for a total transaction of $3,157,653.90. Following the sale, the chairman now directly owns 10,808,583 shares in the company, valued at $3,766,250,746.35. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Morningstar Stock Up 0.6 %

NASDAQ MORN opened at $350.55 on Wednesday. The stock has a market capitalization of $15.03 billion, a P/E ratio of 46.31 and a beta of 1.18. Morningstar, Inc. has a 52 week low of $263.79 and a 52 week high of $352.00. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.14 and a current ratio of 1.14. The stock has a fifty day moving average of $326.73 and a 200-day moving average of $310.02.

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

Morningstar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were issued a $0.405 dividend. 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 is currently 21.40%.

Wall Street Analysts Forecast Growth

MORN has been the topic of a number of research analyst reports. BMO Capital Markets restated an “outperform” rating and set a $352.00 price target on shares of Morningstar in a research report on Wednesday, August 28th. UBS Group initiated coverage on Morningstar in a report on Tuesday, October 8th. They set a “buy” rating and a $390.00 target price on the stock. Redburn Atlantic cut Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 price target for the company. in a report on Wednesday, October 9th. Finally, StockNews.com lowered shares of Morningstar from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $360.67.

Institutional Trading of Morningstar

A number of institutional investors have recently bought and sold shares of the business. Algert Global LLC boosted its position in shares of Morningstar by 25.7% in the 3rd quarter. Algert Global LLC now owns 25,509 shares of the business services provider’s stock worth $8,140,000 after purchasing an additional 5,220 shares during the last quarter. Cerity Partners LLC lifted its stake in Morningstar by 16.9% in the third quarter. Cerity Partners LLC now owns 6,318 shares of the business services provider’s stock valued at $2,016,000 after buying an additional 915 shares during the period. Great Valley Advisor Group Inc. boosted its holdings in Morningstar by 102.1% during the third quarter. Great Valley Advisor Group Inc. now owns 1,524 shares of the business services provider’s stock worth $486,000 after buying an additional 770 shares during the last quarter. Planning Alternatives Ltd. ADV grew its position in shares of Morningstar by 2.2% during the 3rd quarter. Planning Alternatives Ltd. ADV now owns 2,254 shares of the business services provider’s stock worth $719,000 after buying an additional 49 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Morningstar by 2.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 191,765 shares of the business services provider’s stock valued at $61,196,000 after acquiring an additional 5,045 shares during the last quarter. Institutional investors and hedge funds own 57.02% of the company’s stock.

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.