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Morningstar, Inc. (NASDAQ:MORN) Chairman Sells $1,893,772.50 in Stock

Morningstar logo with Business Services background

Key Points

  • Joseph D. Mansueto, Chairman of Morningstar, Inc., sold 7,250 shares for a total of $1,893,772.50, reducing his ownership by 0.08% but still maintaining over 9.39 million shares valued at approximately $2.45 billion.
  • Morningstar's stock declined 1.4% on a recent trading day, reaching a price of $255.31, with trading volume exceeding its average.
  • The company reported earnings of $2.40 per share, surpassing estimates, while announcing a quarterly dividend of $0.455, reflecting a 0.7% dividend yield.
  • Want stock alerts on Morningstar? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Morningstar, Inc. (NASDAQ:MORN - Get Free Report) Chairman Joseph D. Mansueto sold 7,250 shares of Morningstar stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $261.21, for a total value of $1,893,772.50. Following the transaction, the chairman directly owned 9,394,257 shares in the company, valued at $2,453,873,870.97. The trade was a 0.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Morningstar Stock Down 1.4%

MORN traded down $3.61 during midday trading on Monday, reaching $255.31. 361,686 shares of the company were exchanged, compared to its average volume of 219,795. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.13 and a current ratio of 1.13. The company's fifty day moving average price is $293.67 and its 200 day moving average price is $298.25. The company has a market cap of $10.77 billion, a price-to-earnings ratio of 27.19 and a beta of 0.96. Morningstar, Inc. has a one year low of $250.34 and a one year high of $365.00.

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 for the quarter, topping analysts' consensus estimates of $2.21 by $0.19. Morningstar had a return on equity of 23.54% and a net margin of 17.22%. The firm had revenue of $605.10 million for the quarter, compared to the consensus estimate of $605.84 million.

Morningstar Dividend Announcement

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

Hedge Funds Weigh In On Morningstar

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC boosted its stake in shares of Morningstar by 1.9% in the 2nd quarter. Geode Capital Management LLC now owns 626,941 shares of the business services provider's stock worth $196,839,000 after buying an additional 11,408 shares during the last quarter. Millennium Management LLC boosted its stake 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 worth $162,168,000 after buying an additional 253,137 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Morningstar by 4.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 305,014 shares of the business services provider's stock worth $102,719,000 after buying an additional 13,155 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Morningstar by 18.6% in the 4th quarter. Northern Trust Corp now owns 230,149 shares of the business services provider's stock worth $77,505,000 after buying an additional 36,133 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Morningstar by 1.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 196,465 shares of the business services provider's stock valued at $58,914,000 after purchasing an additional 2,270 shares during the last quarter. Hedge funds and other institutional investors own 57.02% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. 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 report on Saturday, July 5th.

Read Our Latest Research Report on Morningstar

Morningstar Company Profile

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Morningstar (NASDAQ:MORN)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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