Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph D. Mansueto Sells 4,080 Shares

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph D. Mansueto sold 4,080 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $323.46, for a total value of $1,319,716.80. Following the completion of the transaction, the chairman now directly owns 10,072,938 shares in the company, valued at approximately $3,258,192,525.48. The trade was a 0.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Morningstar Stock Performance

NASDAQ:MORN traded up $2.56 during trading hours on Friday, reaching $313.72. 244,218 shares of the stock were exchanged, compared to its average volume of 123,911. The stock has a market capitalization of $13.45 billion, a P/E ratio of 41.44 and a beta of 1.20. The firm has a 50 day simple moving average of $328.15 and a 200-day simple moving average of $329.97. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.55. Morningstar, Inc. has a 52 week low of $281.37 and a 52 week high of $365.00.

Morningstar (NASDAQ:MORN) last posted its quarterly earnings results on Wednesday, February 26th. The business services provider reported $2.14 EPS for the quarter, beating the consensus estimate of $1.99 by $0.15. The business had revenue of $591.00 million during the quarter, compared to analyst estimates of $580.81 million. Morningstar had a net margin of 14.69% and a return on equity of 23.28%.

Morningstar Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 3rd will be given a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 0.58%. This is a boost from Morningstar’s previous quarterly dividend of $0.41. The ex-dividend date is Friday, October 3rd. Morningstar’s dividend payout ratio is presently 24.04%.

Institutional Investors Weigh In On Morningstar

Several large investors have recently added to or reduced their stakes in MORN. Smartleaf Asset Management LLC lifted its position in Morningstar by 178.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 78 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 50 shares during the last quarter. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Morningstar in the fourth quarter valued at approximately $28,000. Venturi Wealth Management LLC raised its holdings in shares of Morningstar by 101.7% during the third quarter. Venturi Wealth Management LLC now owns 121 shares of the business services provider’s stock valued at $39,000 after buying an additional 61 shares during the last quarter. R Squared Ltd bought a new stake in shares of Morningstar during the fourth quarter valued at approximately $40,000. Finally, V Square Quantitative Management LLC boosted its position in shares of Morningstar by 49.5% during the fourth quarter. V Square Quantitative Management LLC now owns 139 shares of the business services provider’s stock worth $47,000 after buying an additional 46 shares during the period. 57.02% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Morningstar from a “hold” rating to a “buy” rating in a report on Thursday.

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.