Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph D. Mansueto Sells 7,250 Shares

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph D. Mansueto sold 7,250 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $306.43, for a total transaction of $2,221,617.50. Following the sale, the chairman now owns 9,430,378 shares of the company’s stock, valued at $2,889,750,730.54. This trade represents a 0.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Morningstar Stock Up 1.6%

Shares of NASDAQ:MORN traded up $4.90 on Tuesday, hitting $309.02. 169,487 shares of the company traded hands, compared to its average volume of 142,671. Morningstar, Inc. has a 52 week low of $250.34 and a 52 week high of $365.00. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.55. The stock has a 50 day simple moving average of $290.14 and a 200-day simple moving average of $315.77. The company has a market cap of $13.06 billion, a PE ratio of 40.82 and a beta of 0.99.

Morningstar (NASDAQ:MORN) last released its quarterly earnings results on Wednesday, April 30th. The business services provider reported $2.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.13. Morningstar had a return on equity of 23.28% and a net margin of 14.69%. The business had revenue of $581.90 million during the quarter, compared to the consensus estimate of $589.07 million.

Morningstar Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th were given a $0.455 dividend. This is a positive change from Morningstar’s previous quarterly dividend of $0.41. This represents a $1.82 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date was Friday, April 4th. Morningstar’s dividend payout ratio is presently 20.45%.

Hedge Funds Weigh In On Morningstar

A number of hedge funds have recently made changes to their positions in the business. Smartleaf Asset Management LLC boosted its holdings in shares of Morningstar by 178.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 78 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 50 shares during the last quarter. Bradley & Co. Private Wealth Management LLC bought a new stake in Morningstar in the fourth quarter worth $28,000. Hughes Financial Services LLC purchased a new stake in Morningstar during the first quarter valued at $25,000. R Squared Ltd purchased a new stake in Morningstar during the fourth quarter valued at $40,000. Finally, V Square Quantitative Management LLC lifted its position in Morningstar by 49.5% during the fourth quarter. V Square Quantitative Management LLC now owns 139 shares of the business services provider’s stock valued at $47,000 after purchasing an additional 46 shares during the last quarter. Institutional investors own 57.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on MORN shares. Wall Street Zen upgraded shares of Morningstar from a “hold” rating to a “buy” rating in a research report on Friday, May 2nd. BMO Capital Markets upped their price target on shares of Morningstar from $339.00 to $355.00 and gave the company an “outperform” rating in a research report on Monday, May 12th.

Morningstar Company Profile

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.