Joseph D. Mansueto Sells 7,486 Shares of Morningstar, Inc. (NASDAQ:MORN) Stock

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph D. Mansueto sold 7,486 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $298.30, for a total value of $2,233,073.80. Following the completion of the sale, the chairman now directly owns 10,733,826 shares of the company’s stock, valued at $3,201,900,295.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Morningstar Price Performance

NASDAQ:MORN traded up $0.88 during mid-day trading on Tuesday, hitting $299.86. 114,781 shares of the stock traded hands, compared to its average volume of 126,191. Morningstar, Inc. has a 12-month low of $185.10 and a 12-month high of $316.05. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.66. The company has a market cap of $12.82 billion, a PE ratio of 60.40 and a beta of 1.15. The business’s 50-day moving average price is $302.06 and its 200 day moving average price is $283.43.

Morningstar (NASDAQ:MORN) last released its quarterly earnings results on Wednesday, April 24th. The business services provider reported $1.73 earnings per share for the quarter. The firm had revenue of $542.80 million for the quarter. Morningstar had a net margin of 10.13% and a return on equity of 21.79%.

Morningstar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Friday, April 5th were paid a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend was Thursday, April 4th. Morningstar’s dividend payout ratio is currently 32.73%.

Analysts Set New Price Targets

MORN has been the topic of a number of research reports. TheStreet upgraded Morningstar from a “c” rating to a “b” rating in a research note on Friday, February 23rd. StockNews.com upgraded Morningstar from a “hold” rating to a “buy” rating in a research report on Thursday, February 29th.

Hedge Funds Weigh In On Morningstar

A number of hedge funds and other institutional investors have recently bought and sold shares of MORN. Principal Securities Inc. bought a new position in Morningstar during the fourth quarter valued at approximately $29,000. GAMMA Investing LLC purchased a new stake in Morningstar during the fourth quarter valued at about $35,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Morningstar in the third quarter worth about $42,000. Fifth Third Bancorp lifted its stake in shares of Morningstar by 55.2% in the 3rd quarter. Fifth Third Bancorp now owns 194 shares of the business services provider’s stock valued at $45,000 after acquiring an additional 69 shares during the last quarter. Finally, CVA Family Office LLC purchased a new stake in Morningstar during the 4th quarter valued at about $65,000. Hedge funds and other institutional investors own 57.02% of the company’s stock.

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.