Morningstar, Inc. (NASDAQ:MORN) Chairman Sells $106,533.66 in Stock

Key Points

• Morningstar, Inc. Chairman Joseph D. Mansueto sold 394 shares of the company's stock for a total of $106,533.66 at an average price of $270.39, after which he retained over 9.4 million shares valued at approximately $2.54 billion.
• The company reported an earnings per share (EPS) of $2.40 for the last quarter, exceeding analyst expectations of $2.21, while revenue was slightly below estimates at $605.10 million.
• Morningstar's quarterly dividend of $0.455 per share reflects an annualized yield of 0.7%, with a payout ratio of 19.38%.

Morningstar, Inc. (NASDAQ:MORN - Get Free Report) Chairman Joseph D. Mansueto sold 394 shares of the stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $270.39, for a total transaction of $106,533.66. Following the sale, the chairman owned 9,405,818 shares in the company, valued at approximately $2,543,239,129.02. This trade represents a 0.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Morningstar Stock Performance

MORN stock traded down $1.13 during trading on Friday, reaching $258.92. 239,084 shares of the company's stock were exchanged, compared to its average volume of 218,849. Morningstar, Inc. has a 1-year low of $250.34 and a 1-year high of $365.00. The firm has a market cap of $10.92 billion, a PE ratio of 27.57 and a beta of 0.96. The company's fifty day moving average price is $295.66 and its 200-day moving average price is $299.67. 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 announced its earnings results on Wednesday, July 30th. The business services provider reported $2.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.21 by $0.19. The firm had revenue of $605.10 million during the quarter, compared to analyst estimates of $605.84 million. Morningstar had a net margin of 17.22% and a return on equity of 23.54%.

Morningstar Dividend Announcement

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

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Morningstar

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Millennium Management LLC lifted its position in shares of Morningstar by 88.0% in the 1st quarter. Millennium Management LLC now owns 540,795 shares of the business services provider's stock valued at $162,168,000 after acquiring an additional 253,137 shares in the last quarter. Balyasny Asset Management L.P. acquired a new position in Morningstar during the fourth quarter valued at $56,584,000. GAMMA Investing LLC lifted its stake in Morningstar by 30,785.9% in the 1st quarter. GAMMA Investing LLC now owns 144,237 shares of the business services provider's stock worth $43,252,000 after acquiring an additional 143,770 shares in the last quarter. Nuveen LLC acquired a new position in shares of Morningstar in the 1st quarter valued at about $38,269,000. Finally, Assenagon Asset Management S.A. purchased a new position in Morningstar during the second quarter valued at approximately $33,098,000. 57.02% of the stock is owned by institutional investors and hedge funds.

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.