Morningstar, Inc. (NASDAQ:MORN) Chairman Sells $2,635,520.36 in Stock

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph D. Mansueto sold 8,954 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $294.34, for a total value of $2,635,520.36. Following the completion of the transaction, the chairman now directly owns 10,741,312 shares in the company, valued at $3,161,597,774.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Morningstar Stock Up 0.3 %

Shares of MORN traded up $0.88 on Tuesday, reaching $299.86. The company’s stock had a trading volume of 114,781 shares, compared to its average volume of 126,191. The stock has a market capitalization of $12.82 billion, a PE ratio of 60.40 and a beta of 1.15. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.66. Morningstar, Inc. has a twelve month low of $185.10 and a twelve month high of $316.05. The firm has a fifty day moving average of $302.06 and a 200-day moving average of $283.43.

Morningstar (NASDAQ:MORN) last posted its earnings results on Wednesday, April 24th. The business services provider reported $1.73 earnings per share for the quarter. The company had revenue of $542.80 million for the quarter. Morningstar had a return on equity of 21.79% and a net margin of 10.13%.

Morningstar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, April 5th were given a $0.405 dividend. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $1.62 annualized dividend and a yield of 0.54%. Morningstar’s dividend payout ratio is currently 32.73%.

Hedge Funds Weigh In On Morningstar

Several institutional investors have recently added to or reduced their stakes in MORN. Principal Securities Inc. purchased a new stake in shares of Morningstar during the 4th quarter worth approximately $29,000. GAMMA Investing LLC bought a new stake in shares of Morningstar in the fourth quarter valued at $35,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Morningstar during the 3rd quarter valued at $42,000. Fifth Third Bancorp grew its stake in shares of Morningstar by 55.2% during the 3rd quarter. Fifth Third Bancorp now owns 194 shares of the business services provider’s stock worth $45,000 after acquiring an additional 69 shares during the period. Finally, CVA Family Office LLC purchased a new stake in Morningstar in the 4th quarter worth about $65,000. Institutional investors own 57.02% of the company’s stock.

Analyst Ratings Changes

MORN has been the subject of a number of research reports. TheStreet upgraded shares of Morningstar from a “c” rating to a “b” rating in a report on Friday, February 23rd. StockNews.com raised Morningstar from a “hold” rating to a “buy” rating in a research note on Thursday, February 29th.

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.