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

07 Nov 2024, 12:12 by Tristan Rich · The Markets Daily

Morningstar, Inc. (NASDAQ:MORN – Get Free Report) Chairman Joseph D. Mansueto sold 9,062 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $329.45, for a total value of $2,985,475.90. Following the completion of the transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available at this link.

Morningstar Trading Up 2.4 %

NASDAQ MORN opened at $344.41 on Thursday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $14.77 billion, a P/E ratio of 45.50 and a beta of 1.18. The business has a fifty day simple moving average of $324.70 and a 200 day simple moving average of $308.92. Morningstar, Inc. has a 12 month low of $259.50 and a 12 month high of $349.07.

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

Morningstar Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were paid a $0.405 dividend. The ex-dividend date was Friday, October 4th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 0.47%. Morningstar’s payout ratio is presently 21.40%.

Analyst Upgrades and Downgrades

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

View Our Latest Report on Morningstar

Institutional Trading of Morningstar

A number of institutional investors and hedge funds have recently modified their holdings of MORN. Millennium Management LLC boosted its position in Morningstar by 154.0% in the second quarter. Millennium Management LLC now owns 320,186 shares of the business services provider’s stock worth $94,727,000 after purchasing an additional 194,122 shares during the last quarter. M&G Plc purchased a new position in shares of Morningstar in the 1st quarter worth about $52,293,000. Boston Financial Mangement LLC bought a new position in Morningstar during the third quarter valued at about $19,666,000. Assenagon Asset Management S.A. purchased a new stake in Morningstar during the second quarter worth about $9,366,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Morningstar in the first quarter worth about $9,070,000. 57.02% of the stock is owned by hedge funds and other institutional investors.

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