Joseph D. Mansueto Sells 7,222 Shares of Morningstar, Inc. (NASDAQ:MORN) Stock

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph D. Mansueto sold 7,222 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $349.67, for a total value of $2,525,316.74. Following the transaction, the chairman now directly owns 10,801,361 shares of the company’s stock, valued at approximately $3,776,911,900.87. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Morningstar Stock Down 1.4 %

MORN stock opened at $345.47 on Thursday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.55. The firm has a 50-day moving average of $327.49 and a two-hundred day moving average of $310.48. Morningstar, Inc. has a 12 month low of $264.79 and a 12 month high of $352.55. The company has a market cap of $14.81 billion, a price-to-earnings ratio of 45.64 and a beta of 1.18.

Morningstar (NASDAQ:MORN) last announced its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $2.00 EPS for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.01). The company had revenue of $569.40 million for the quarter. Morningstar had a return on equity of 23.28% and a net margin of 14.69%.

Morningstar Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were given a dividend of $0.405 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $1.62 annualized dividend and a dividend yield of 0.47%. Morningstar’s payout ratio is 21.40%.

Institutional Investors Weigh In On Morningstar

Hedge funds and other institutional investors have recently bought and sold shares of the company. Millennium Management LLC boosted its holdings in Morningstar by 154.0% in the 2nd quarter. Millennium Management LLC now owns 320,186 shares of the business services provider’s stock valued at $94,727,000 after purchasing an additional 194,122 shares during the last quarter. M&G Plc acquired a new position in Morningstar in the first quarter valued at approximately $52,293,000. Massachusetts Financial Services Co. MA lifted its holdings in Morningstar by 9.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,201,708 shares of the business services provider’s stock valued at $383,489,000 after acquiring an additional 102,206 shares during the last quarter. Boston Financial Mangement LLC purchased a new position in Morningstar in the third quarter worth approximately $19,666,000. Finally, FMR LLC increased its stake in Morningstar by 10.9% during the third quarter. FMR LLC now owns 400,520 shares of the business services provider’s stock worth $127,814,000 after acquiring an additional 39,263 shares during the last quarter. 57.02% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. UBS Group initiated coverage on shares of Morningstar in a research report on Tuesday, October 8th. They issued a “buy” rating and a $390.00 target price on the stock. BMO Capital Markets reiterated an “outperform” rating and issued a $352.00 price objective on shares of Morningstar in a report on Wednesday, August 28th. StockNews.com cut Morningstar from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Redburn Atlantic lowered Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 price target on the stock. in a research note on Wednesday, October 9th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $360.67.

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.