Joseph D. Mansueto Sells 11,693 Shares of Morningstar, Inc. (NASDAQ:MORN) Stock

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph D. Mansueto sold 11,693 shares of Morningstar stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $271.95, for a total transaction of $3,179,911.35. Following the completion of the transaction, the chairman now owns 11,380,617 shares in the company, valued at approximately $3,094,958,793.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Morningstar Price Performance

Morningstar stock traded up $2.56 during trading hours on Tuesday, hitting $274.97. 87,023 shares of the stock were exchanged, compared to its average volume of 180,452. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market capitalization of $11.74 billion, a P/E ratio of 166.69 and a beta of 1.14. Morningstar, Inc. has a 12 month low of $163.28 and a 12 month high of $275.87. The business’s 50-day moving average is $245.15 and its two-hundred day moving average is $222.59.

Morningstar (NASDAQ:MORN) last announced its earnings results on Wednesday, October 25th. The business services provider reported $1.28 earnings per share (EPS) for the quarter. Morningstar had a net margin of 3.59% and a return on equity of 14.09%. The company had revenue of $515.50 million for the quarter.

Morningstar Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Friday, October 6th were issued a $0.375 dividend. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $1.50 annualized dividend and a yield of 0.55%. Morningstar’s dividend payout ratio is currently 90.91%.

Analysts Set New Price Targets

Several research firms have recently commented on MORN. StockNews.com began coverage on shares of Morningstar in a report on Thursday, October 5th. They set a “hold” rating on the stock. Redburn Atlantic upgraded shares of Morningstar from a “neutral” rating to an “overweight” rating and set a $320.00 price target on the stock in a report on Monday, October 30th.

Hedge Funds Weigh In On Morningstar

Several large investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. raised its holdings in Morningstar by 9.6% in the first quarter. PNC Financial Services Group Inc. now owns 1,489 shares of the business services provider’s stock worth $406,000 after purchasing an additional 130 shares during the period. AlphaCrest Capital Management LLC bought a new stake in shares of Morningstar during the first quarter worth $425,000. MetLife Investment Management LLC bought a new stake in shares of Morningstar during the first quarter worth $387,000. BlackRock Inc. increased its position in shares of Morningstar by 1.6% during the first quarter. BlackRock Inc. now owns 1,069,710 shares of the business services provider’s stock worth $292,213,000 after acquiring an additional 16,952 shares in the last quarter. Finally, Great West Life Assurance Co. Can grew its position in Morningstar by 4.5% in the first quarter. Great West Life Assurance Co. Can now owns 1,871 shares of the business services provider’s stock valued at $540,000 after purchasing an additional 80 shares in the last quarter. 57.02% of the stock is currently owned by institutional investors and hedge funds.

Morningstar Company Profile

Morningstar, Inc provides independent investment insights in the United States, Canada, Asia, Australia, Europe, the United Kingdom, and internationally. The company provides investment data, fundamental equity and manager research, private capital markets research, credit and fund rating, and index; environmental, social, and governance (ESG) rating, as well as indexes directly on its proprietary desktop or web-based software platforms, or through subscriptions, data feeds, and third-party distributors; and investment offerings, including managed investment products, publicly listed and private companies, fixed income securities, private credit, and bank loans.