Morningstar, Inc. (NASDAQ:MORN) Chairman Sells $1,571,989.70 in Stock

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph D. Mansueto sold 5,149 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $305.30, for a total value of $1,571,989.70. Following the completion of the transaction, the chairman now directly owns 10,610,555 shares of the company’s stock, valued at $3,239,402,441.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Morningstar Price Performance

Morningstar stock opened at $313.59 on Friday. Morningstar, Inc. has a 12 month low of $213.38 and a 12 month high of $330.22. The company has a current ratio of 1.05, a quick ratio of 0.98 and a debt-to-equity ratio of 0.63. The business’s 50 day simple moving average is $302.22 and its 200 day simple moving average is $297.74. The company has a market cap of $13.40 billion, a price-to-earnings ratio of 63.35 and a beta of 1.17.

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

Morningstar Announces Dividend

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

Institutional Investors Weigh In On Morningstar

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Morningstar by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 2,576,670 shares of the business services provider’s stock worth $737,546,000 after acquiring an additional 23,812 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Morningstar by 0.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,099,502 shares of the business services provider’s stock worth $325,288,000 after buying an additional 4,822 shares in the last quarter. Wasatch Advisors LP raised its position in shares of Morningstar by 5.3% in the first quarter. Wasatch Advisors LP now owns 562,099 shares of the business services provider’s stock worth $173,334,000 after buying an additional 28,164 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Morningstar by 45.9% in the fourth quarter. Wellington Management Group LLP now owns 509,486 shares of the business services provider’s stock worth $145,835,000 after buying an additional 160,281 shares in the last quarter. Finally, Millennium Management LLC raised its position in shares of Morningstar by 154.0% in the second quarter. Millennium Management LLC now owns 320,186 shares of the business services provider’s stock worth $94,727,000 after buying an additional 194,122 shares in the last quarter. Hedge funds and other institutional investors own 57.02% of the company’s stock.

Analyst Ratings Changes

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

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.