Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph D. Mansueto Sells 5,257 Shares

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph D. Mansueto sold 5,257 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $310.37, for a total transaction of $1,631,615.09. Following the completion of the transaction, the chairman now directly owns 10,599,799 shares of the company’s stock, valued at approximately $3,289,859,615.63. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Morningstar Stock Up 0.8 %

MORN stock traded up $2.59 during midday trading on Thursday, hitting $313.59. The company’s stock had a trading volume of 88,297 shares, compared to its average volume of 117,057. The company has a quick ratio of 0.98, a current ratio of 1.05 and a debt-to-equity ratio of 0.63. Morningstar, Inc. has a 52-week low of $213.38 and a 52-week high of $330.22. The firm has a market capitalization of $13.40 billion, a P/E ratio of 62.83 and a beta of 1.17. The firm has a 50-day simple moving average of $301.80 and a 200-day simple moving average of $297.63.

Morningstar (NASDAQ:MORN) last announced its quarterly earnings data on Wednesday, July 24th. The business services provider reported $2.01 earnings per share 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 company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, July 12th were issued a $0.405 dividend. The ex-dividend date of this dividend was Friday, July 12th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 0.52%. Morningstar’s payout ratio is 32.73%.

Institutional Investors Weigh In On Morningstar

Hedge funds and other institutional investors have recently modified their holdings of the company. Principal Securities Inc. acquired a new stake in shares of Morningstar in the 4th quarter valued at $29,000. Blue Trust Inc. raised its holdings in shares of Morningstar by 326.9% in the 2nd quarter. Blue Trust Inc. now owns 111 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 85 shares in the last quarter. GAMMA Investing LLC acquired a new stake in shares of Morningstar in the 4th quarter valued at $35,000. Crewe Advisors LLC acquired a new stake in Morningstar during the 2nd quarter worth $35,000. Finally, DT Investment Partners LLC purchased a new stake in Morningstar in the second quarter valued at $36,000. 57.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets assumed coverage on shares of Morningstar in a research report on Monday. They issued an “outperform” rating and a $352.00 price target for the company.

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.