Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph D. Mansueto Sells 12,650 Shares

Morningstar, Inc. (NASDAQ:MORNGet Free Report) Chairman Joseph D. Mansueto sold 12,650 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $298.12, for a total value of $3,771,218.00. Following the completion of the transaction, the chairman now directly owns 10,859,171 shares in the company, valued at $3,237,336,058.52. The transaction was disclosed in a filing with the SEC, which is available at this link.

Morningstar Price Performance

NASDAQ MORN opened at $295.19 on Wednesday. The business’s fifty day moving average price is $279.46 and its 200-day moving average price is $259.95. The stock has a market capitalization of $12.60 billion, a price-to-earnings ratio of 90.00 and a beta of 1.14. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.93 and a quick ratio of 0.94. Morningstar, Inc. has a 1-year low of $163.28 and a 1-year high of $301.91.

Morningstar (NASDAQ:MORNGet Free Report) last released its quarterly earnings results on Thursday, February 22nd. The business services provider reported $1.97 earnings per share for the quarter. The firm had revenue of $538.70 million for the quarter. Morningstar had a return on equity of 18.54% and a net margin of 6.92%.

Morningstar Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Friday, January 5th were paid a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 0.55%. This is a positive change from Morningstar’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Thursday, January 4th. Morningstar’s dividend payout ratio is 49.39%.

Institutional Investors Weigh In On Morningstar

Several hedge funds and other institutional investors have recently modified their holdings of MORN. Principal Securities Inc. purchased a new stake in shares of Morningstar in the 4th quarter worth $29,000. Meeder Asset Management Inc. increased its stake in shares of Morningstar by 7,500.0% in the 4th quarter. Meeder Asset Management Inc. now owns 152 shares of the business services provider’s stock worth $33,000 after purchasing an additional 150 shares in the last quarter. First Horizon Advisors Inc. increased its stake in shares of Morningstar by 60.2% in the 2nd quarter. First Horizon Advisors Inc. now owns 173 shares of the business services provider’s stock worth $34,000 after purchasing an additional 65 shares in the last quarter. GAMMA Investing LLC purchased a new stake in shares of Morningstar in the 4th quarter worth $35,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of Morningstar in the 3rd quarter worth $42,000. 57.02% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MORN has been the topic of several analyst reports. TheStreet raised Morningstar from a “c” rating to a “b” rating in a research report on Friday. StockNews.com cut Morningstar from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st.

Check Out Our Latest Research Report on MORN

Morningstar Company Profile

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Morningstar (NASDAQ:MORN)

Receive News & Ratings for Morningstar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Morningstar and related companies with MarketBeat.com's FREE daily email newsletter.