Morningstar, Inc. (NASDAQ:MORN) Chairman Sells $2,728,568.20 in Stock

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph D. Mansueto sold 9,062 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $301.10, for a total value of $2,728,568.20. Following the sale, the chairman now owns 10,047,332 shares in the company, valued at approximately $3,025,251,665.20. This trade represents a 0.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Morningstar Stock Performance

Shares of MORN stock opened at $290.65 on Friday. The firm has a market capitalization of $12.45 billion, a price-to-earnings ratio of 38.40 and a beta of 1.23. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.14 and a quick ratio of 1.14. The business has a fifty day moving average of $323.48 and a 200 day moving average of $329.66. Morningstar, Inc. has a 1 year low of $281.37 and a 1 year high of $365.00.

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

Morningstar Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 3rd will be paid a dividend of $0.455 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $1.82 dividend on an annualized basis and a dividend yield of 0.63%. This is a boost from Morningstar’s previous quarterly dividend of $0.41. Morningstar’s payout ratio is currently 21.24%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MORN. StockNews.com upgraded Morningstar from a “hold” rating to a “buy” rating in a report on Thursday, February 27th. BMO Capital Markets dropped their target price on Morningstar from $387.00 to $370.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd.

Hedge Funds Weigh In On Morningstar

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mackenzie Financial Corp purchased a new stake in shares of Morningstar during the fourth quarter worth approximately $915,000. Forum Financial Management LP acquired a new position in Morningstar in the fourth quarter valued at about $223,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Morningstar by 10.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 98,337 shares of the business services provider’s stock valued at $33,116,000 after buying an additional 9,658 shares during the last quarter. Two Sigma Advisers LP lifted its position in Morningstar by 795.7% in the fourth quarter. Two Sigma Advisers LP now owns 20,600 shares of the business services provider’s stock valued at $6,937,000 after buying an additional 18,300 shares during the last quarter. Finally, Two Sigma Investments LP purchased a new stake in Morningstar during the fourth quarter worth about $12,203,000. Hedge funds and other institutional investors own 57.02% of the company’s stock.

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.