Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph D. Mansueto Sells 6,110 Shares

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph D. Mansueto sold 6,110 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $312.18, for a total value of $1,907,419.80. Following the sale, the chairman now directly owns 10,539,718 shares of the company’s stock, valued at approximately $3,290,289,165.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Morningstar Price Performance

MORN opened at $312.54 on Wednesday. The stock’s 50-day moving average price is $307.98 and its 200 day moving average price is $300.92. Morningstar, Inc. has a 12-month low of $219.45 and a 12-month high of $330.22. The firm has a market cap of $13.36 billion, a price-to-earnings ratio of 62.84 and a beta of 1.17. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.63.

Morningstar (NASDAQ:MORN) last issued its quarterly earnings results on Wednesday, July 24th. The business services provider reported $2.01 earnings per share (EPS) for the quarter. Morningstar had a net margin of 11.34% and a return on equity of 22.34%. The business had revenue of $571.90 million for the quarter.

Morningstar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, July 12th were given a $0.405 dividend. The ex-dividend date of this dividend was Friday, July 12th. This represents a $1.62 annualized dividend and a yield of 0.52%. Morningstar’s dividend payout ratio is presently 32.73%.

Hedge Funds Weigh In On Morningstar

Institutional investors have recently modified their holdings of the business. Norges Bank purchased a new position in Morningstar in the fourth quarter valued at $85,814,000. Millennium Management LLC raised its position in Morningstar by 154.0% in the 2nd quarter. Millennium Management LLC now owns 320,186 shares of the business services provider’s stock valued at $94,727,000 after purchasing an additional 194,122 shares in the last quarter. M&G Plc purchased a new position in Morningstar in the first quarter worth approximately $52,293,000. Wellington Management Group LLP lifted its position in shares of Morningstar by 45.9% during the 4th quarter. Wellington Management Group LLP now owns 509,486 shares of the business services provider’s stock worth $145,835,000 after purchasing an additional 160,281 shares during the last quarter. Finally, Norden Group LLC boosted its position in shares of Morningstar by 3,164.9% during the 1st quarter. Norden Group LLC now owns 129,257 shares of the business services provider’s stock worth $39,860,000 after acquiring an additional 125,298 shares in the last quarter. Institutional investors and hedge funds own 57.02% of the company’s stock.

Analysts Set New Price Targets

Separately, BMO Capital Markets restated an “outperform” rating and issued a $352.00 price objective on shares of Morningstar in a report on Wednesday, August 28th.

Morningstar Company Profile

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.