Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph D. Mansueto Sells 721 Shares of Stock

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph D. Mansueto sold 721 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $312.94, for a total value of $225,629.74. Following the transaction, the chairman now directly owns 10,532,253 shares in the company, valued at $3,295,963,253.82. The sale was disclosed in a document filed with the SEC, which is available at this link.

Morningstar Stock Performance

NASDAQ MORN opened at $304.72 on Friday. The firm has a market cap of $13.03 billion, a price-to-earnings ratio of 61.56 and a beta of 1.18. The company has a 50-day simple moving average of $309.14 and a two-hundred day simple moving average of $301.56. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.63. Morningstar, Inc. has a 12-month low of $219.45 and a 12-month high of $330.22.

Morningstar (NASDAQ:MORN) last issued its earnings results on Wednesday, July 24th. The business services provider reported $2.01 earnings per share for the quarter. The company 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, July 12th were paid a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend was Friday, July 12th. Morningstar’s payout ratio is 32.73%.

Institutional Investors Weigh In On Morningstar

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc increased its position in shares of Morningstar by 21.9% in the second quarter. Versant Capital Management Inc now owns 245 shares of the business services provider’s stock valued at $72,000 after acquiring an additional 44 shares during the period. Legacy Advisors LLC lifted 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 worth $895,000 after acquiring an additional 49 shares during the period. GAMMA Investing LLC lifted its position in shares of Morningstar by 38.6% in the 2nd quarter. GAMMA Investing LLC now owns 183 shares of the business services provider’s stock worth $54,000 after purchasing an additional 51 shares during the period. Great Valley Advisor Group Inc. raised its position in shares of Morningstar by 7.3% in 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 in the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in Morningstar by 38.0% in the second quarter. Nisa Investment Advisors LLC now owns 196 shares of the business services provider’s stock worth $58,000 after purchasing an additional 54 shares in the last quarter. 57.02% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets reissued an “outperform” rating and set a $352.00 price target on shares of Morningstar in a research note on Wednesday, August 28th.

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.