Morningstar, Inc. (NASDAQ:MORN – Get Rating) Chairman Joseph D. Mansueto sold 14,500 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $245.43, for a total value of $3,558,735.00. Following the completion of the transaction, the chairman now owns 12,408,580 shares in the company, valued at $3,045,437,789.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Morningstar Price Performance
Shares of MORN traded down $0.71 during midday trading on Friday, reaching $249.00. The stock had a trading volume of 50,929 shares, compared to its average volume of 151,818. The company has a market capitalization of $10.58 billion, a price-to-earnings ratio of 59.43 and a beta of 1.11. Morningstar, Inc. has a 12-month low of $218.25 and a 12-month high of $350.21. The company’s 50-day moving average is $241.72 and its 200 day moving average is $259.70. The company has a current ratio of 1.02, a quick ratio of 1.25 and a debt-to-equity ratio of 0.92.
Morningstar Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, July 29th. Investors of record on Friday, July 1st were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend was Thursday, June 30th. Morningstar’s dividend payout ratio is presently 34.37%.
Analyst Upgrades and Downgrades
Institutional Investors Weigh In On Morningstar
Institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE raised its position in shares of Morningstar by 866.9% in the 1st quarter. Bank of America Corp DE now owns 1,352,449 shares of the business services provider’s stock worth $369,449,000 after acquiring an additional 1,212,570 shares in the last quarter. Select Equity Group L.P. grew its position in Morningstar by 16.5% during the 4th quarter. Select Equity Group L.P. now owns 4,850,288 shares of the business services provider’s stock valued at $1,658,750,000 after purchasing an additional 688,048 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in Morningstar during the 4th quarter valued at about $128,670,000. JPMorgan Chase & Co. grew its position in Morningstar by 27.3% during the 1st quarter. JPMorgan Chase & Co. now owns 733,609 shares of the business services provider’s stock valued at $200,402,000 after purchasing an additional 157,262 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Morningstar by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 2,403,202 shares of the business services provider’s stock valued at $656,482,000 after purchasing an additional 129,956 shares during the last quarter. 54.01% of the stock is currently owned by hedge funds and other institutional investors.
Morningstar, Inc provides independent investment research services in North America, Europe, Australia, and Asia. The company offers web-based tools; investment data, fundamental equity and manager research, private capital markets research, credit and fund rating, and index, as well as environmental, social, and governance (ESG) rating services; and investment offerings, including managed investment products, publicly listed and private companies, fixed income securities, and real-time global market data for financial advisors, asset managers, retirement plan providers and sponsors, and individual and institutional investors.
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