Joseph D. Mansueto Sells 1,280 Shares of Morningstar, Inc. (NASDAQ:MORN) Stock

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph D. Mansueto sold 1,280 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $320.57, for a total transaction of $410,329.60. Following the completion of the sale, the chairman now directly owns 10,130,378 shares in the company, valued at approximately $3,247,495,275.46. This trade represents a 0.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Morningstar Stock Down 1.1 %

MORN stock opened at $325.02 on Friday. 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, Inc. has a twelve month low of $269.51 and a twelve month high of $365.00. The company’s 50 day moving average is $333.28 and its two-hundred day moving average is $329.14. The stock has a market cap of $13.94 billion, a P/E ratio of 42.94 and a beta of 1.20.

Morningstar Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 3rd will be given a dividend of $0.455 per share. The ex-dividend date is Friday, October 3rd. This is a positive change from Morningstar’s previous quarterly dividend of $0.41. This represents a $1.82 dividend on an annualized basis and a dividend yield of 0.56%. Morningstar’s dividend payout ratio (DPR) is 24.04%.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Morningstar from a “hold” rating to a “buy” rating in a report on Wednesday, January 15th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Morningstar presently has a consensus rating of “Moderate Buy” and an average price target of $360.67.

Hedge Funds Weigh In On Morningstar

A number of hedge funds have recently modified their holdings of MORN. Norges Bank purchased a new position in shares of Morningstar during the fourth quarter worth approximately $111,694,000. Premier Fund Managers Ltd purchased a new position in shares of Morningstar during the fourth quarter worth approximately $50,694,000. Wellington Management Group LLP grew its position in shares of Morningstar by 13.7% during the fourth quarter. Wellington Management Group LLP now owns 1,080,599 shares of the business services provider’s stock worth $363,903,000 after acquiring an additional 130,087 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Morningstar by 9.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,201,708 shares of the business services provider’s stock worth $383,489,000 after acquiring an additional 102,206 shares during the last quarter. Finally, Schroder Investment Management Group purchased a new position in shares of Morningstar during the fourth quarter worth approximately $33,829,000. 57.02% of the stock is currently owned by hedge funds and other institutional investors.

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.