Morningstar, Inc. (NASDAQ:MORN) Chairman Sells $381,923.92 in Stock

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 stock was sold at an average price of $306.52, for a total value of $381,923.92. Following the completion of the transaction, the chairman now directly owns 9,427,836 shares in the company, valued at approximately $2,889,820,290.72. This represents a 0.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Morningstar Stock Performance

Morningstar stock traded down $2.63 during trading on Friday, hitting $306.30. The stock had a trading volume of 170,477 shares, compared to its average volume of 143,925. 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 stock's 50 day moving average is $290.68 and its two-hundred day moving average is $315.39. Morningstar, Inc. has a 1 year low of $250.34 and a 1 year high of $365.00. The stock has a market cap of $12.94 billion, a price-to-earnings ratio of 40.46 and a beta of 0.99.

Morningstar (NASDAQ:MORN - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The business services provider reported $2.23 EPS for the quarter, beating analysts' consensus estimates of $2.10 by $0.13. Morningstar had a return on equity of 23.28% and a net margin of 14.69%. The firm had revenue of $581.90 million for the quarter, compared to analysts' expectations of $589.07 million.

Morningstar Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th were issued a dividend of $0.455 per share. The ex-dividend date was Friday, April 4th. This is an increase from Morningstar's previous quarterly dividend of $0.41. This represents a $1.82 annualized dividend and a yield of 0.59%. Morningstar's dividend payout ratio is 20.45%.

Hedge Funds Weigh In On Morningstar

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Morningstar by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 2,803,611 shares of the business services provider's stock valued at $944,144,000 after purchasing an additional 51,598 shares during the period. Wellington Management Group LLP raised its holdings in Morningstar by 13.7% during the 4th quarter. Wellington Management Group LLP now owns 1,080,599 shares of the business services provider's stock valued at $363,903,000 after acquiring an additional 130,087 shares during the period. Geode Capital Management LLC raised its holdings in Morningstar by 12.9% during the 4th quarter. Geode Capital Management LLC now owns 561,431 shares of the business services provider's stock valued at $189,116,000 after acquiring an additional 64,020 shares during the period. Millennium Management LLC lifted its position in shares of Morningstar by 88.0% during the first quarter. Millennium Management LLC now owns 540,795 shares of the business services provider's stock worth $162,168,000 after acquiring an additional 253,137 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Morningstar during the fourth quarter worth $111,694,000. Institutional investors own 57.02% of the company's stock.

Analyst Ratings Changes

MORN has been the topic of a number of research analyst reports. BMO Capital Markets boosted their price target on shares of Morningstar from $339.00 to $355.00 and gave the stock an "outperform" rating in a 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.

Morningstar Company Profile

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.