Insider Selling: Morningstar, Inc. (NASDAQ:MORN) Chairman Sells 7,250 Shares of Stock

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph D. Mansueto sold 7,250 shares of the firm’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $261.21, for a total transaction of $1,893,772.50. Following the sale, the chairman directly owned 9,394,257 shares of the company’s stock, valued at approximately $2,453,873,870.97. The trade was a 0.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Morningstar Stock Performance

Shares of Morningstar stock opened at $255.31 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market cap of $10.77 billion, a P/E ratio of 27.19 and a beta of 0.96. The firm has a 50 day simple moving average of $293.67 and a 200 day simple moving average of $298.25. Morningstar, Inc. has a fifty-two week low of $250.34 and a fifty-two week high of $365.00.

Morningstar (NASDAQ:MORN) last issued its quarterly earnings results on Wednesday, July 30th. The business services provider reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.19. The business had revenue of $605.10 million during the quarter, compared to analyst estimates of $605.84 million. Morningstar had a net margin of 17.22% and a return on equity of 23.54%.

Morningstar Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Friday, July 11th were issued a $0.455 dividend. The ex-dividend date of this dividend was Friday, July 11th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 0.7%. Morningstar’s dividend payout ratio (DPR) is currently 19.38%.

Institutional Trading of Morningstar

A number of hedge funds and other institutional investors have recently modified their holdings of MORN. LPL Financial LLC grew its holdings in Morningstar by 13.6% during the 4th quarter. LPL Financial LLC now owns 5,092 shares of the business services provider’s stock worth $1,715,000 after acquiring an additional 610 shares during the period. Envestnet Asset Management Inc. grew its holdings in Morningstar by 22.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 94,135 shares of the business services provider’s stock worth $31,701,000 after acquiring an additional 17,139 shares during the period. Invesco Ltd. grew its holdings in Morningstar by 65.8% during the 4th quarter. Invesco Ltd. now owns 194,182 shares of the business services provider’s stock worth $65,393,000 after acquiring an additional 77,042 shares during the period. Raymond James Financial Inc. acquired a new stake in Morningstar during the 4th quarter worth $16,497,000. Finally, Treasurer of the State of North Carolina grew its holdings in Morningstar by 0.7% during the 4th quarter. Treasurer of the State of North Carolina now owns 11,739 shares of the business services provider’s stock worth $3,953,000 after acquiring an additional 80 shares during the period. Institutional investors and hedge funds own 57.02% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on MORN shares. Wall Street Zen lowered shares of Morningstar from a “buy” rating to a “hold” rating in a report on Saturday, July 5th. BMO Capital Markets raised their price objective on shares of Morningstar from $339.00 to $355.00 and gave the stock an “outperform” rating in a 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.