Morningstar, Inc. (NASDAQ:MORN) Chairman Sells $2,985,475.90 in Stock

by · The Cerbat Gem

Morningstar, Inc. (NASDAQ:MORN – Get Free Report) Chairman Joseph D. Mansueto sold 9,062 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $329.45, for a total transaction of $2,985,475.90. Following the sale, the chairman now owns 10,836,656 shares in the company, valued at approximately $3,570,136,319.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Morningstar Stock Performance

NASDAQ:MORN traded up $7.91 during mid-day trading on Wednesday, hitting $344.41. 138,347 shares of the stock were exchanged, compared to its average volume of 133,767. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.14 and a current ratio of 1.14. Morningstar, Inc. has a fifty-two week low of $259.50 and a fifty-two week high of $349.07. The firm’s 50-day simple moving average is $324.02 and its 200 day simple moving average is $308.67. The stock has a market capitalization of $14.77 billion, a price-to-earnings ratio of 45.50 and a beta of 1.18.

Morningstar (NASDAQ:MORN – Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $2.00 earnings per share for the quarter, missing the consensus estimate 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 for 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 given a dividend of $0.405 per share. The ex-dividend date was Friday, October 4th. This represents a $1.62 annualized dividend and a dividend yield of 0.47%. Morningstar’s dividend payout ratio is currently 21.40%.

Wall Street Analysts Forecast Growth

MORN has been the subject of a number of recent analyst reports. BMO Capital Markets reiterated an “outperform” rating and issued a $352.00 price target on shares of Morningstar in a research note 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 price target for the company. Finally, Redburn Atlantic lowered Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 price objective on the stock. in a research note on Wednesday, October 9th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Morningstar has an average rating of “Moderate Buy” and a consensus price target of $360.67.

Check Out Our Latest Analysis on MORN

Institutional Investors Weigh In On Morningstar

Hedge funds have recently modified their holdings of the company. Dearborn Partners LLC bought a new position in shares of Morningstar during the third quarter valued at $338,000. CIBC Asset Management Inc increased its holdings in Morningstar by 3.4% in the third quarter. CIBC Asset Management Inc now owns 1,259 shares of the business services provider’s stock valued at $402,000 after purchasing an additional 41 shares during the period. KBC Group NV raised its position in Morningstar by 10.8% during the 3rd quarter. KBC Group NV now owns 689 shares of the business services provider’s stock worth $220,000 after purchasing an additional 67 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in Morningstar by 9.3% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 12,924 shares of the business services provider’s stock worth $4,124,000 after buying an additional 1,097 shares during the period. Finally, Victory Capital Management Inc. grew its position in shares of Morningstar by 12.7% in the 3rd quarter. Victory Capital Management Inc. now owns 15,843 shares of the business services provider’s stock valued at $5,056,000 after buying an additional 1,789 shares during the last quarter. Institutional investors and hedge funds own 57.02% of the company’s stock.

Morningstar Company Profile

(Get Free Report)

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.

See Also