Joseph D. Mansueto Sells 9,062 Shares of Morningstar, Inc. (NASDAQ:MORN) Stock

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph D. Mansueto sold 9,062 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $329.45, for a total value of $2,985,475.90. Following the transaction, the chairman now directly owns 10,836,656 shares in the company, valued at $3,570,136,319.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Morningstar Stock Up 2.4 %

Shares of NASDAQ MORN opened at $344.41 on Thursday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.55. The company has a market cap of $14.77 billion, a P/E ratio of 45.50 and a beta of 1.18. Morningstar, Inc. has a 52 week low of $259.50 and a 52 week high of $349.07. The business has a 50-day simple moving average of $324.70 and a two-hundred day simple moving average of $308.92.

Morningstar (NASDAQ:MORN) last released its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $2.00 EPS for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.01). The firm had revenue of $569.40 million during the quarter. Morningstar had a net margin of 14.69% and a return on equity of 23.28%.

Morningstar Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were issued a $0.405 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $1.62 annualized dividend and a dividend yield of 0.47%. Morningstar’s payout ratio is currently 21.40%.

Institutional Investors Weigh In On Morningstar

Several large investors have recently added to or reduced their stakes in MORN. Massachusetts Financial Services Co. MA increased its stake in Morningstar by 0.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,099,502 shares of the business services provider’s stock worth $325,288,000 after acquiring an additional 4,822 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Morningstar by 154.0% during the second quarter. Millennium Management LLC now owns 320,186 shares of the business services provider’s stock worth $94,727,000 after purchasing an additional 194,122 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Morningstar by 1.8% in the second quarter. Dimensional Fund Advisors LP now owns 272,075 shares of the business services provider’s stock worth $80,492,000 after purchasing an additional 4,722 shares during the last quarter. M&G PLC raised its stake in Morningstar by 5.6% in the third quarter. M&G PLC now owns 182,808 shares of the business services provider’s stock valued at $58,316,000 after purchasing an additional 9,703 shares in the last quarter. Finally, M&G Plc lifted its position in Morningstar by 2.0% during the second quarter. M&G Plc now owns 173,105 shares of the business services provider’s stock valued at $51,239,000 after purchasing an additional 3,322 shares during the last quarter. Institutional investors own 57.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. BMO Capital Markets restated an “outperform” rating and issued a $352.00 price objective on shares of Morningstar in a research note on Wednesday, August 28th. Redburn Atlantic cut shares of Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 price target on the stock. in a research note on Wednesday, October 9th. Finally, UBS Group started coverage on shares of Morningstar in a report on Tuesday, October 8th. They issued a “buy” rating and a $390.00 price objective for the company. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $360.67.

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.