Morningstar (NASDAQ:MORN) Shares Gap Up to $291.27

Morningstar, Inc. (NASDAQ:MORN)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $291.27, but opened at $298.02. Morningstar shares last traded at $298.02, with a volume of 1,147 shares changing hands.

Analyst Ratings Changes

Separately, StockNews.com raised Morningstar from a “hold” rating to a “buy” rating in a research report on Thursday, February 29th.

Morningstar Stock Performance

The company has a debt-to-equity ratio of 0.66, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market capitalization of $12.61 billion, a PE ratio of 59.58 and a beta of 1.16. The company’s fifty day simple moving average is $293.31 and its 200 day simple moving average is $290.92.

Morningstar (NASDAQ:MORN) last announced its quarterly earnings results on Wednesday, April 24th. The business services provider reported $1.73 EPS for the quarter. Morningstar had a net margin of 10.13% and a return on equity of 21.79%. The company had revenue of $542.80 million for the quarter.

Morningstar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, July 12th will be given a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Friday, July 12th. Morningstar’s dividend payout ratio (DPR) is presently 32.73%.

Insider Activity at Morningstar

In related news, Chairman Joseph D. Mansueto sold 9,062 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $289.22, for a total transaction of $2,620,911.64. Following the sale, the chairman now owns 10,648,928 shares of the company’s stock, valued at approximately $3,079,882,956.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director William M. Lyons sold 750 shares of the stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $289.07, for a total transaction of $216,802.50. Following the sale, the director now owns 16,590 shares of the company’s stock, valued at approximately $4,795,671.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Joseph D. Mansueto sold 9,062 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $289.22, for a total value of $2,620,911.64. Following the sale, the chairman now directly owns 10,648,928 shares in the company, valued at approximately $3,079,882,956.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 73,802 shares of company stock worth $21,760,308. 39.90% of the stock is owned by company insiders.

Institutional Trading of Morningstar

Institutional investors have recently added to or reduced their stakes in the stock. Principal Securities Inc. purchased a new stake in shares of Morningstar in the 4th quarter valued at about $29,000. GAMMA Investing LLC purchased a new stake in shares of Morningstar in the 4th quarter valued at about $35,000. CVA Family Office LLC purchased a new stake in shares of Morningstar in the 4th quarter valued at about $65,000. Fifth Third Bancorp raised its holdings in shares of Morningstar by 19.6% in the 4th quarter. Fifth Third Bancorp now owns 232 shares of the business services provider’s stock valued at $66,000 after acquiring an additional 38 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of Morningstar in the 1st quarter valued at about $66,000. Hedge funds and other institutional investors 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.