Morningstar, Inc. (NASDAQ:MORN) Chairman Sells $2,221,617.50 in Stock

Morningstar, Inc. (NASDAQ:MORN - Get Free Report) Chairman Joseph D. Mansueto sold 7,250 shares of the business's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $306.43, for a total transaction of $2,221,617.50. Following the sale, the chairman now directly owns 9,430,378 shares of the company's stock, valued at approximately $2,889,750,730.54. This represents a 0.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Morningstar Stock Performance

Shares of MORN traded down $2.63 during mid-day trading on Friday, reaching $306.30. 170,477 shares of the company's stock traded hands, compared to its average volume of 143,925. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.14 and a current ratio of 1.14. The business's 50-day moving average price is $290.68 and its 200-day moving average price is $315.39. The stock has a market capitalization of $12.94 billion, a P/E ratio of 40.46 and a beta of 0.99. Morningstar, Inc. has a 12 month low of $250.34 and a 12 month high of $365.00.

Morningstar (NASDAQ:MORN - Get Free Report) last posted its earnings results on Wednesday, April 30th. The business services provider reported $2.23 EPS for the quarter, beating the consensus estimate 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 business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors 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. This represents a $1.82 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend was Friday, April 4th. Morningstar's payout ratio is currently 20.45%.

Analyst Upgrades and Downgrades

MORN has been the topic of several recent research reports. Wall Street Zen raised Morningstar from a "hold" rating to a "buy" rating in a report on Friday, May 2nd. BMO Capital Markets increased their target price on Morningstar from $339.00 to $355.00 and gave the stock an "outperform" rating in a research report on Monday, May 12th.

Institutional Investors Weigh In On Morningstar

Several institutional investors have recently bought and sold shares of the stock. Smartleaf Asset Management LLC increased its stake in Morningstar by 178.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 78 shares of the business services provider's stock valued at $26,000 after buying an additional 50 shares during the period. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Morningstar during the fourth quarter valued at approximately $28,000. Hughes Financial Services LLC acquired a new position in shares of Morningstar during the first quarter valued at approximately $25,000. R Squared Ltd bought a new stake in Morningstar during the fourth quarter worth approximately $40,000. Finally, V Square Quantitative Management LLC lifted its position in Morningstar by 49.5% in the fourth quarter. V Square Quantitative Management LLC now owns 139 shares of the business services provider's stock worth $47,000 after purchasing an additional 46 shares during the period. Institutional investors and hedge funds own 57.02% of the company's stock.

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.