Morningstar, Inc. (NASDAQ:MORN - Get Free Report) Chairman Joseph D. Mansueto sold 1,246 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $306.52, for a total transaction of $381,923.92. Following the transaction, the chairman now directly owns 9,427,836 shares in the company, valued at approximately $2,889,820,290.72. The trade was a 0.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.
Morningstar Stock Performance
Morningstar stock traded down $2.63 during midday trading on Friday, reaching $306.30. 170,477 shares of the company traded hands, compared to its average volume of 143,406. The firm has a market capitalization of $12.94 billion, a price-to-earnings ratio of 40.46 and a beta of 0.99. The business has a 50 day moving average of $290.70 and a two-hundred day moving average of $314.87. Morningstar, Inc. has a 12 month low of $250.34 and a 12 month high of $365.00. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.14 and a quick ratio of 1.14.
Morningstar (NASDAQ:MORN - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The business services provider reported $2.23 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.13. Morningstar had a net margin of 14.69% and a return on equity of 23.28%. The firm had revenue of $581.90 million for the quarter, compared to analysts' expectations of $589.07 million.
Morningstar Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th were paid a dividend of $0.455 per share. This is a boost from Morningstar's previous quarterly dividend of $0.41. The ex-dividend date was Friday, April 4th. This represents a $1.82 dividend on an annualized basis and a yield of 0.59%. Morningstar's dividend payout ratio (DPR) is presently 20.45%.
Institutional Investors Weigh In On Morningstar
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. raised its stake in Morningstar by 278.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 208 shares of the business services provider's stock worth $62,000 after acquiring an additional 153 shares during the period. Focus Partners Wealth grew its holdings in Morningstar by 3.4% during the 1st quarter. Focus Partners Wealth now owns 3,838 shares of the business services provider's stock valued at $1,151,000 after buying an additional 126 shares in the last quarter. Bayforest Capital Ltd grew its holdings in Morningstar by 19.6% during the 1st quarter. Bayforest Capital Ltd now owns 855 shares of the business services provider's stock valued at $256,000 after buying an additional 140 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Morningstar by 11.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 109,257 shares of the business services provider's stock valued at $32,763,000 after buying an additional 10,920 shares in the last quarter. Finally, United Services Automobile Association purchased a new stake in Morningstar during the 1st quarter valued at approximately $523,000. Institutional investors own 57.02% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on the stock. BMO Capital Markets upped their target price on shares of Morningstar from $339.00 to $355.00 and gave the stock an "outperform" rating in a research report on Monday, May 12th. Wall Street Zen raised shares of Morningstar from a "hold" rating to a "buy" rating in a research report on Friday, May 2nd.
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About Morningstar
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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.
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