Morningstar, Inc. (NASDAQ:MORN) Chairman Sells $2,324,886.84 in Stock

Morningstar, Inc. (NASDAQ:MORNGet Rating) Chairman Joseph D. Mansueto sold 9,007 shares of the company’s stock in a transaction that occurred on Wednesday, May 4th. The shares were sold at an average price of $258.12, for a total value of $2,324,886.84. Following the completion of the sale, the chairman now owns 12,591,784 shares in the company, valued at $3,250,191,286.08. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

MORN stock opened at $246.08 on Friday. The firm has a market cap of $10.51 billion, a P/E ratio of 57.90 and a beta of 1.16. Morningstar, Inc. has a 1-year low of $229.33 and a 1-year high of $350.21. The business’s 50 day moving average is $269.88 and its 200-day moving average is $294.10. The company has a current ratio of 1.25, a quick ratio of 1.13 and a debt-to-equity ratio of 0.37.

Morningstar (NASDAQ:MORNGet Rating) last released its quarterly earnings results on Thursday, February 24th. The business services provider reported $1.50 EPS for the quarter. The business had revenue of $462.20 million for the quarter. Morningstar had a return on equity of 19.08% and a net margin of 10.46%.

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 29th. Shareholders of record on Friday, April 1st were given a $0.36 dividend. The ex-dividend date of this dividend was Thursday, March 31st. This represents a $1.44 dividend on an annualized basis and a yield of 0.59%. Morningstar’s payout ratio is 33.88%.

Separately, StockNews.com lowered Morningstar from a “buy” rating to a “hold” rating in a research note on Wednesday, April 13th.

A number of institutional investors and hedge funds have recently made changes to their positions in MORN. Select Equity Group L.P. boosted its position in Morningstar by 16.5% in the 4th quarter. Select Equity Group L.P. now owns 4,850,288 shares of the business services provider’s stock valued at $1,658,750,000 after buying an additional 688,048 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of Morningstar in the 4th quarter valued at $128,670,000. Norges Bank acquired a new position in shares of Morningstar in the 4th quarter valued at $77,278,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Morningstar in the 4th quarter valued at $39,313,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of Morningstar by 20.5% in the 4th quarter. JPMorgan Chase & Co. now owns 576,347 shares of the business services provider’s stock valued at $197,104,000 after purchasing an additional 97,873 shares during the period. Hedge funds and other institutional investors own 54.01% of the company’s stock.

Morningstar Company Profile (Get Rating)

Morningstar, Inc provides independent investment research services in North America, Europe, Australia, and Asia. The company offers web-based tools; investment data, fundamental equity and manager research, private capital markets research, credit and fund rating, and index, as well as environmental, social, and governance (ESG) rating services; and investment offerings, including managed investment products, publicly listed and private companies, fixed income securities, and real-time global market data for financial advisors, asset managers, retirement plan providers and sponsors, and individual and institutional investors.

Read More

Insider Buying and Selling by Quarter for Morningstar (NASDAQ:MORN)

Receive News & Ratings for Morningstar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Morningstar and related companies with MarketBeat.com's FREE daily email newsletter.