Morningstar, Inc. (NASDAQ:MORN) Chairman Sells $1,847,151.12 in Stock

Key Points

• Chairman Joseph D. Mansueto of Morningstar, Inc. sold 7,068 shares of the company's stock for a total of $1,847,151.12, reducing his ownership by 0.08% to 9,387,189 shares valued at approximately $2.45 billion.
• Morningstar reported earnings of $2.40 per share for the last quarter, surpassing analysts’ expectations of $2.21, along with a net margin of 17.22% and a revenue of $605.10 million.
• The company announced a quarterly dividend of $0.455 per share, with a current dividend yield of 0.7% and a payout ratio of 19.38%.

Morningstar, Inc. (NASDAQ:MORN - Get Free Report) Chairman Joseph D. Mansueto sold 7,068 shares of the company's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $261.34, for a total transaction of $1,847,151.12. Following the completion of the transaction, the chairman directly owned 9,387,189 shares of the company's stock, valued at $2,453,247,973.26. This represents a 0.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Morningstar Price Performance

Shares of MORN traded down $3.61 during midday trading on Monday, hitting $255.31. 361,686 shares of the company traded hands, compared to its average volume of 219,795. The firm has a 50 day moving average of $293.67 and a 200-day moving average of $298.25. Morningstar, Inc. has a 52 week low of $250.34 and a 52 week high of $365.00. The stock has a market cap of $10.77 billion, a price-to-earnings ratio of 27.19 and a beta of 0.96. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.13 and a current ratio of 1.13.

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

Morningstar Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on MORN shares. 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 report on Monday, May 12th. Wall Street Zen downgraded shares of Morningstar from a "buy" rating to a "hold" rating in a report on Saturday, July 5th.

Institutional Trading of Morningstar

Hedge funds have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC raised its position in shares of Morningstar by 9.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 1,802 shares of the business services provider's stock valued at $540,000 after buying an additional 159 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Morningstar by 12.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 106,294 shares of the business services provider's stock valued at $31,874,000 after buying an additional 12,159 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Morningstar by 4.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 305,014 shares of the business services provider's stock valued at $102,719,000 after buying an additional 13,155 shares in the last quarter. Cetera Investment Advisers raised its position in Morningstar by 8.0% in the 4th quarter. Cetera Investment Advisers now owns 2,077 shares of the business services provider's stock worth $699,000 after purchasing an additional 154 shares during the period. Finally, CWM LLC lifted its stake in Morningstar by 9.8% in the first quarter. CWM LLC now owns 1,249 shares of the business services provider's stock worth $375,000 after purchasing an additional 111 shares during the last quarter. 57.02% of the stock is currently owned by hedge funds and other institutional investors.

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.

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