Insider Selling: Morningstar, Inc. (NASDAQ:MORN) Chairman Sells $1,907,419.80 in Stock

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 transaction of $1,907,419.80. Following the sale, the chairman now owns 10,539,718 shares in the company, valued at $3,290,289,165.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Morningstar Trading Down 0.4 %

Morningstar stock opened at $311.92 on Friday. The company has a market cap of $13.33 billion, a price-to-earnings ratio of 63.01 and a beta of 1.17. The firm has a 50-day moving average of $308.96 and a 200-day moving average of $301.35. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.05 and a quick ratio of 1.05. Morningstar, Inc. has a one year low of $219.45 and a one year high of $330.22.

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

Morningstar Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

Institutional Trading of Morningstar

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CWM LLC increased its stake in shares of Morningstar by 14.1% during the 4th quarter. CWM LLC now owns 324 shares of the business services provider’s stock worth $93,000 after purchasing an additional 40 shares during the last quarter. Versant Capital Management Inc increased its position in Morningstar by 21.9% during the second quarter. Versant Capital Management Inc now owns 245 shares of the business services provider’s stock worth $72,000 after buying an additional 44 shares during the last quarter. Legacy Advisors LLC raised its stake in Morningstar by 1.6% in the second quarter. Legacy Advisors LLC now owns 3,025 shares of the business services provider’s stock valued at $895,000 after buying an additional 49 shares during the period. GAMMA Investing LLC lifted its position in shares of Morningstar by 38.6% in the second quarter. GAMMA Investing LLC now owns 183 shares of the business services provider’s stock valued at $54,000 after buying an additional 51 shares during the last quarter. Finally, Great Valley Advisor Group Inc. boosted its stake in shares of Morningstar by 7.3% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 754 shares of the business services provider’s stock worth $223,000 after acquiring an additional 51 shares during the period. 57.02% of the stock is owned by institutional investors.

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.