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

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph D. Mansueto sold 9,062 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $348.45, for a total value of $3,157,653.90. Following the sale, the chairman now owns 10,808,583 shares of the company’s stock, valued at approximately $3,766,250,746.35. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Morningstar Stock Up 0.6 %

NASDAQ MORN traded up $1.98 during trading on Tuesday, hitting $350.55. The company’s stock had a trading volume of 73,570 shares, compared to its average volume of 115,198. Morningstar, Inc. has a fifty-two week low of $263.79 and a fifty-two week high of $352.00. The company has a market cap of $15.03 billion, a PE ratio of 46.05 and a beta of 1.18. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.14 and a quick ratio of 1.14. The business’s 50 day simple moving average is $326.73 and its 200-day simple moving average is $310.02.

Morningstar (NASDAQ:MORN) last released its earnings results 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). The firm had revenue of $569.40 million during the quarter. Morningstar had a net margin of 14.69% and a return on equity of 23.28%.

Morningstar Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were given a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend was Friday, October 4th. Morningstar’s payout ratio is 21.40%.

Analyst Ratings Changes

MORN has been the topic of a number of research analyst reports. BMO Capital Markets restated an “outperform” rating and issued a $352.00 target price on shares of Morningstar in a research note on Wednesday, August 28th. Redburn Atlantic downgraded 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. StockNews.com lowered shares of Morningstar from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, UBS Group started coverage on shares of Morningstar in a report on Tuesday, October 8th. They set a “buy” rating and a $390.00 target price for the company. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Morningstar currently has an average rating of “Moderate Buy” and a consensus target price of $360.67.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. CIBC Asset Management Inc boosted its holdings in shares of 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 acquiring an additional 41 shares in the last quarter. Versant Capital Management Inc increased its position in Morningstar by 21.9% in the 2nd quarter. Versant Capital Management Inc now owns 245 shares of the business services provider’s stock worth $72,000 after purchasing an additional 44 shares during the last quarter. Legacy Advisors LLC lifted its stake in shares of Morningstar by 1.6% in the 2nd quarter. Legacy Advisors LLC now owns 3,025 shares of the business services provider’s stock valued at $895,000 after purchasing an additional 49 shares during the last quarter. Planning Alternatives Ltd. ADV increased its position in Morningstar by 2.2% during the third quarter. Planning Alternatives Ltd. ADV now owns 2,254 shares of the business services provider’s stock worth $719,000 after acquiring an additional 49 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Morningstar by 38.6% during the second quarter. GAMMA Investing LLC now owns 183 shares of the business services provider’s stock valued at $54,000 after acquiring an additional 51 shares during the period. Institutional investors and hedge funds own 57.02% of the company’s stock.

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.