Insider Selling: Morningstar, Inc. (NASDAQ:MORN) Chairman Sells 9,062 Shares of Stock

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph D. Mansueto sold 9,062 shares of the firm’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 transaction of $3,219,003.64. Following the sale, the chairman now directly owns 10,738,224 shares of the company’s stock, valued at approximately $3,814,431,929.28. This trade represents a 0.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Morningstar Price Performance

Shares of NASDAQ MORN traded up $0.91 during midday trading on Wednesday, hitting $355.65. 109,473 shares of the company’s stock were exchanged, compared to its average volume of 119,709. The company has a market cap of $15.25 billion, a price-to-earnings ratio of 46.86 and a beta of 1.18. The business’s fifty day moving average price is $333.90 and its two-hundred day moving average price is $313.95. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.55. Morningstar, Inc. has a 12-month low of $269.51 and a 12-month high of $359.50.

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

Morningstar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were paid a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date was Friday, October 4th. Morningstar’s payout ratio is 21.40%.

Hedge Funds Weigh In On Morningstar

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. CIBC Asset Management Inc grew its stake in shares of Morningstar by 3.4% during the 3rd quarter. CIBC Asset Management Inc now owns 1,259 shares of the business services provider’s stock valued at $402,000 after purchasing an additional 41 shares during the period. Versant Capital Management Inc lifted its holdings in Morningstar by 21.9% in the 2nd quarter. Versant Capital Management Inc now owns 245 shares of the business services provider’s stock worth $72,000 after purchasing an additional 44 shares in the last quarter. Legacy Advisors LLC lifted its holdings in Morningstar by 1.6% in the 2nd quarter. Legacy Advisors LLC now owns 3,025 shares of the business services provider’s stock worth $895,000 after purchasing an additional 49 shares in the last quarter. Planning Alternatives Ltd. ADV lifted its holdings in Morningstar by 2.2% in the 3rd quarter. Planning Alternatives Ltd. ADV now owns 2,254 shares of the business services provider’s stock worth $719,000 after purchasing an additional 49 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Morningstar by 38.6% in the 2nd quarter. GAMMA Investing LLC now owns 183 shares of the business services provider’s stock worth $54,000 after purchasing an additional 51 shares in the last quarter. Hedge funds and other institutional investors own 57.02% of the company’s stock.

Analyst Ratings Changes

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

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.