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 transaction of $2,635,520.36. Following 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 this link.

Morningstar Price Performance

Shares of MORN opened at $295.94 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market cap of $12.65 billion, a PE ratio of 59.79 and a beta of 1.15. Morningstar, Inc. has a twelve month low of $185.10 and a twelve month high of $316.05. The firm’s 50 day moving average price is $302.10 and its 200 day moving average price is $284.04.

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

Morningstar Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, April 5th were issued a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend was Thursday, April 4th. Morningstar’s dividend payout ratio is 32.73%.

Institutional Investors Weigh In On Morningstar

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

Analyst Ratings Changes

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

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.