Morningstar, Inc. (NASDAQ:MORN) Chairman Sells $1,026,544.32 in Stock

Key Points

• Joseph D. Mansueto, Chairman of Morningstar, sold 3,944 shares of stock worth over $1 million, decreasing his position by 0.04% while still holding over 9.3 million shares valued at approximately $2.4 billion.
• Morningstar has reported a quarterly EPS of $2.40, surpassing estimates and maintaining strong net margins and return on equity metrics.
• The company recently declared a quarterly dividend of $0.455 per share, translating to an annualized yield of 0.7% and a dividend payout ratio of 19.38%.

Morningstar, Inc. (NASDAQ:MORN - Get Free Report) Chairman Joseph D. Mansueto sold 3,944 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $260.28, for a total value of $1,026,544.32. Following the transaction, the chairman owned 9,361,981 shares of the company's stock, valued at $2,436,736,414.68. This trade represents a 0.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Morningstar Trading Down 0.8%

MORN stock traded down $1.97 during trading on Thursday, hitting $259.08. The company had a trading volume of 206,125 shares, compared to its average volume of 350,093. The firm has a market capitalization of $10.93 billion, a P/E ratio of 27.59 and a beta of 0.96. Morningstar, Inc. has a 52-week low of $250.34 and a 52-week high of $365.00. The company has a 50 day simple moving average of $290.74 and a 200-day simple moving average of $297.21. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.52.

Morningstar (NASDAQ:MORN - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The business services provider reported $2.40 EPS for the quarter, topping the consensus estimate of $2.21 by $0.19. The company had revenue of $605.10 million for the quarter, compared to the consensus estimate of $605.84 million. Morningstar had a net margin of 17.22% and a return on equity of 23.54%.

Morningstar Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Friday, July 11th were given a dividend of $0.455 per share. The ex-dividend date of this dividend was Friday, July 11th. This represents a $1.82 dividend on an annualized basis and a yield of 0.7%. Morningstar's dividend payout ratio (DPR) is 19.38%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. LPL Financial LLC boosted its stake in shares of Morningstar by 13.6% during the fourth quarter. LPL Financial LLC now owns 5,092 shares of the business services provider's stock valued at $1,715,000 after purchasing an additional 610 shares in the last quarter. Raymond James Financial Inc. bought a new position in Morningstar in the fourth quarter worth approximately $16,497,000. Treasurer of the State of North Carolina lifted its holdings in Morningstar by 0.7% during the fourth quarter. Treasurer of the State of North Carolina now owns 11,739 shares of the business services provider's stock worth $3,953,000 after buying an additional 80 shares during the period. Barclays PLC boosted its position in Morningstar by 29.6% during the 4th quarter. Barclays PLC now owns 21,469 shares of the business services provider's stock valued at $7,230,000 after acquiring an additional 4,906 shares in the last quarter. Finally, Mariner LLC increased its holdings in shares of Morningstar by 10.7% in the 4th quarter. Mariner LLC now owns 1,705 shares of the business services provider's stock valued at $574,000 after acquiring an additional 165 shares during the period. Hedge funds and other institutional investors own 57.02% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on MORN. BMO Capital Markets boosted their target price on Morningstar from $339.00 to $355.00 and gave the company an "outperform" rating in a research report on Monday, May 12th. Wall Street Zen lowered Morningstar from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th.

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.

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