Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph D. Mansueto Sells 10,328 Shares

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph D. Mansueto sold 10,328 shares of Morningstar stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $271.00, for a total value of $2,798,888.00. Following the transaction, the chairman now directly owns 11,392,310 shares in the company, valued at $3,087,316,010. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Morningstar Stock Performance

Shares of MORN traded up $2.56 on Tuesday, reaching $274.97. 87,023 shares of the stock traded hands, compared to its average volume of 180,452. The firm has a market cap of $11.74 billion, a price-to-earnings ratio of 166.69 and a beta of 1.14. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.94 and a quick ratio of 0.94. Morningstar, Inc. has a 12 month low of $163.28 and a 12 month high of $275.87. The stock’s 50-day moving average price is $245.15 and its 200-day moving average price is $222.59.

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

Morningstar Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Friday, October 6th were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Thursday, October 5th. Morningstar’s dividend payout ratio (DPR) is presently 90.91%.

Hedge Funds Weigh In On Morningstar

Large investors have recently made changes to their positions in the company. Commerce Bank increased its holdings in Morningstar by 0.4% in the first quarter. Commerce Bank now owns 14,030 shares of the business services provider’s stock valued at $2,849,000 after purchasing an additional 57 shares during the last quarter. Advisory Services Network LLC increased its holdings in Morningstar by 1.6% in the first quarter. Advisory Services Network LLC now owns 3,654 shares of the business services provider’s stock valued at $742,000 after purchasing an additional 58 shares during the last quarter. Treasurer of the State of North Carolina increased its holdings in shares of Morningstar by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 11,292 shares of the business services provider’s stock worth $2,645,000 after acquiring an additional 60 shares in the last quarter. Neuberger Berman Group LLC increased its holdings in shares of Morningstar by 0.6% in the first quarter. Neuberger Berman Group LLC now owns 10,501 shares of the business services provider’s stock worth $2,868,000 after acquiring an additional 63 shares in the last quarter. Finally, Allworth Financial LP increased its holdings in shares of Morningstar by 90.1% in the second quarter. Allworth Financial LP now owns 135 shares of the business services provider’s stock worth $26,000 after acquiring an additional 64 shares in the last quarter. Institutional investors and hedge funds own 57.02% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on MORN shares. Redburn Atlantic raised Morningstar from a “neutral” rating to an “overweight” rating and set a $320.00 price target on the stock in a research note on Monday, October 30th. StockNews.com assumed coverage on Morningstar in a research report on Thursday, October 5th. They set a “hold” rating for the company.

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.