Joseph D. Mansueto Sells 9,062 Shares of Morningstar, Inc. (NASDAQ:MORN) Stock

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph D. Mansueto sold 9,062 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $355.22, for a total value of $3,219,003.64. Following the sale, the chairman now directly owns 10,738,224 shares in the company, valued at $3,814,431,929.28. This trade represents a 0.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Morningstar Trading Up 0.3 %

Morningstar stock traded up $0.91 during mid-day trading on Wednesday, hitting $355.65. The company’s stock had a trading volume of 109,473 shares, compared to its average volume of 119,709. The company has a 50 day moving average of $333.90 and a 200-day moving average of $313.95. The stock has a market cap of $15.25 billion, a PE ratio of 46.86 and a beta of 1.18. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.14 and a current ratio of 1.14. Morningstar, Inc. has a one year low of $269.51 and a one year high of $359.50.

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 the consensus estimate of $2.01 by ($0.01). The business had revenue of $569.40 million during the quarter. Morningstar had a net margin of 14.69% and a return on equity of 23.28%.

Morningstar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were given a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 0.46%. The ex-dividend date was Friday, October 4th. Morningstar’s dividend payout ratio (DPR) is presently 21.40%.

Wall Street Analysts Forecast Growth

MORN has been the topic of several recent research reports. BMO Capital Markets reaffirmed an “outperform” rating and set a $352.00 price objective on shares of Morningstar in a report on Wednesday, August 28th. Redburn Atlantic cut Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 price objective on the stock. in a report on Wednesday, October 9th. UBS Group assumed coverage on Morningstar in a report on Tuesday, October 8th. They set a “buy” rating and a $390.00 price objective on the stock. Finally, StockNews.com downgraded Morningstar from a “buy” rating to a “hold” rating in a research report on Saturday. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $360.67.

Hedge Funds Weigh In On Morningstar

Several hedge funds have recently bought and sold shares of the business. M&G Plc grew its position in shares of Morningstar by 2.0% during the 2nd quarter. M&G Plc now owns 173,105 shares of the business services provider’s stock worth $51,239,000 after buying an additional 3,322 shares in the last quarter. Tidal Investments LLC purchased a new position in shares of Morningstar in the first quarter worth about $1,207,000. Victory Capital Management Inc. raised its stake in shares of Morningstar by 12.7% in the third quarter. Victory Capital Management Inc. now owns 15,843 shares of the business services provider’s stock worth $5,056,000 after purchasing an additional 1,789 shares during the last quarter. Harbor Capital Advisors Inc. raised its stake in shares of Morningstar by 295.4% in the second quarter. Harbor Capital Advisors Inc. now owns 2,637 shares of the business services provider’s stock worth $780,000 after purchasing an additional 1,970 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in Morningstar during the second quarter worth about $9,366,000. 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.