Joseph D. Mansueto Sells 3,825 Shares of Morningstar, Inc. (NASDAQ:MORN) Stock

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph D. Mansueto sold 3,825 shares of Morningstar stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $351.05, for a total transaction of $1,342,766.25. Following the sale, the chairman now owns 10,791,380 shares of the company’s stock, valued at approximately $3,788,313,949. The trade was a 0.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Morningstar Price Performance

NASDAQ:MORN opened at $337.57 on Friday. Morningstar, Inc. has a 12-month low of $264.79 and a 12-month high of $352.55. The firm has a market cap of $14.48 billion, a price-to-earnings ratio of 44.59 and a beta of 1.18. The company’s 50-day moving average is $328.76 and its two-hundred day moving average is $310.94. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.55.

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

Morningstar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were given a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend was Friday, October 4th. Morningstar’s dividend payout ratio is currently 21.40%.

Hedge Funds Weigh In On Morningstar

Several large investors have recently added to or reduced their stakes in the business. CIBC Asset Management Inc increased its stake in shares of Morningstar by 3.4% during the 3rd quarter. CIBC Asset Management Inc now owns 1,259 shares of the business services provider’s stock valued at $402,000 after acquiring an additional 41 shares during the last quarter. Versant Capital Management Inc grew its holdings in Morningstar by 21.9% in the second quarter. Versant Capital Management Inc now owns 245 shares of the business services provider’s stock valued at $72,000 after purchasing an additional 44 shares during the period. Legacy Advisors LLC increased its position in Morningstar by 1.6% during the second quarter. Legacy Advisors LLC now owns 3,025 shares of the business services provider’s stock worth $895,000 after purchasing an additional 49 shares during the last quarter. Planning Alternatives Ltd. ADV raised its stake in Morningstar by 2.2% during the third quarter. Planning Alternatives Ltd. ADV now owns 2,254 shares of the business services provider’s stock worth $719,000 after purchasing an additional 49 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Morningstar by 38.6% in the 2nd quarter. GAMMA Investing LLC now owns 183 shares of the business services provider’s stock valued at $54,000 after purchasing an additional 51 shares during the last quarter. 57.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on MORN. UBS Group began coverage on Morningstar in a report on Tuesday, October 8th. They set a “buy” rating and a $390.00 price objective for the company. BMO Capital Markets reiterated an “outperform” rating and issued a $352.00 price objective on shares of Morningstar in a research report on Wednesday, August 28th. StockNews.com raised shares of Morningstar from a “hold” rating to a “buy” rating in a report on Friday. Finally, Redburn Atlantic cut shares of Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 price objective for the company. in a research note on Wednesday, October 9th. One investment 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, Morningstar 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.