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

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph Mansueto sold 7,250 shares of the firm’s stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $258.65, for a total transaction of $1,875,212.50. Following the completion of the transaction, the chairman owned 9,354,731 shares of the company’s stock, valued at $2,419,601,173.15. This trade represents a 0.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Morningstar Stock Performance

Morningstar stock opened at $262.29 on Thursday. Morningstar, Inc. has a 1-year low of $250.34 and a 1-year high of $365.00. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $11.06 billion, a PE ratio of 27.93 and a beta of 0.96. The firm’s 50 day simple moving average is $287.00 and its 200 day simple moving average is $295.30.

Morningstar (NASDAQ:MORN) last released its quarterly earnings results on Wednesday, July 30th. The business services provider reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.19. The firm 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 firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Friday, July 11th were paid a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Friday, July 11th. Morningstar’s dividend payout ratio is currently 19.38%.

Hedge Funds Weigh In On Morningstar

A number of large investors have recently modified their holdings of the company. Hughes Financial Services LLC purchased a new stake in Morningstar in the first quarter worth approximately $25,000. Osterweis Capital Management Inc. bought a new stake in shares of Morningstar in the 2nd quarter worth approximately $29,000. IFP Advisors Inc lifted its holdings in shares of Morningstar by 270.3% in the 2nd quarter. IFP Advisors Inc now owns 137 shares of the business services provider’s stock worth $43,000 after acquiring an additional 100 shares during the last quarter. Larson Financial Group LLC boosted its stake in shares of Morningstar by 5,066.7% in the 1st quarter. Larson Financial Group LLC now owns 155 shares of the business services provider’s stock valued at $46,000 after purchasing an additional 152 shares in the last quarter. Finally, MAI Capital Management grew its holdings in shares of Morningstar by 37.8% during the 1st quarter. MAI Capital Management now owns 153 shares of the business services provider’s stock valued at $46,000 after purchasing an additional 42 shares during the last quarter. 57.02% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MORN. Wall Street Zen downgraded Morningstar from a “buy” rating to a “hold” rating in a research report on Saturday, July 5th. BMO Capital Markets raised their target price on shares of Morningstar from $339.00 to $355.00 and gave the company an “outperform” rating in a research note on Monday, May 12th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $361.67.

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.