Joseph D. Mansueto Sells 10,315 Shares of Morningstar, Inc. (NASDAQ:MORN) Stock

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph D. Mansueto sold 10,315 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $226.91, for a total transaction of $2,340,576.65. Following the sale, the chairman now directly owns 11,541,549 shares of the company’s stock, valued at $2,618,892,883.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Morningstar Stock Performance

MORN opened at $234.59 on Friday. The firm has a market cap of $10.01 billion, a P/E ratio of 442.62 and a beta of 1.16. Morningstar, Inc. has a 1-year low of $163.28 and a 1-year high of $259.28. The company has a 50 day simple moving average of $213.95 and a two-hundred day simple moving average of $205.63. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.99 and a quick ratio of 0.99.

Morningstar (NASDAQ:MORN) last posted its quarterly earnings results on Wednesday, July 26th. The business services provider reported $1.60 earnings per share for the quarter. Morningstar had a net margin of 1.18% and a return on equity of 12.16%. The business had revenue of $504.70 million during the quarter.

Morningstar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Friday, July 7th were given a dividend of $0.375 per share. The ex-dividend date of this dividend was Thursday, July 6th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.64%. Morningstar’s dividend payout ratio is 283.02%.

Hedge Funds Weigh In On Morningstar

Hedge funds and other institutional investors have recently modified their holdings of the stock. Brown Brothers Harriman & Co. bought a new position in shares of Morningstar during the first quarter worth $25,000. Allworth Financial LP lifted its position in Morningstar by 90.1% during the second quarter. Allworth Financial LP now owns 135 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 64 shares during the last quarter. Benjamin Edwards Inc. bought a new position in Morningstar during the fourth quarter valued at $27,000. Meeder Asset Management Inc. lifted its position in Morningstar by 7,500.0% during the fourth quarter. Meeder Asset Management Inc. now owns 152 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 150 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its position in Morningstar by 60.2% during the second quarter. First Horizon Advisors Inc. now owns 173 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 65 shares during the last quarter. Institutional investors own 57.02% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on shares of Morningstar in a research report on Thursday, August 17th. They issued a “hold” rating for the company.

About Morningstar

Morningstar, Inc provides independent investment insights in the United States, Canada, Asia, Australia, Europe, the United Kingdom, and internationally. The company provides investment data, fundamental equity and manager research, private capital markets research, credit and fund rating, and index; environmental, social, and governance (ESG) rating, as well as indexes directly on its proprietary desktop or web-based software platforms, or through subscriptions, data feeds, and third-party distributors; and investment offerings, including managed investment products, publicly listed and private companies, fixed income securities, private credit, and bank loans.