Morningstar (NASDAQ:MORN) Chairman Sells $1,197,197.44 in Stock

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph Mansueto sold 6,464 shares of the business’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $185.21, for a total value of $1,197,197.44. Following the transaction, the chairman owned 8,223,661 shares of the company’s stock, valued at approximately $1,523,104,253.81. This represents a 0.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Morningstar Stock Down 2.2%

MORN opened at $165.47 on Monday. The stock’s 50 day moving average price is $210.44 and its 200 day moving average price is $228.52. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market cap of $6.81 billion, a P/E ratio of 18.82 and a beta of 1.08. Morningstar, Inc. has a 12 month low of $164.62 and a 12 month high of $330.55.

Morningstar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 2nd will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $2.00 annualized dividend and a yield of 1.2%. Morningstar’s dividend payout ratio is presently 22.75%.

Hedge Funds Weigh In On Morningstar

A number of hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Morningstar by 23.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 178 shares of the business services provider’s stock valued at $53,000 after purchasing an additional 34 shares during the last quarter. Focus Partners Wealth raised its holdings in Morningstar by 3.4% during the 1st quarter. Focus Partners Wealth now owns 3,838 shares of the business services provider’s stock worth $1,151,000 after buying an additional 126 shares during the period. Geneos Wealth Management Inc. boosted its holdings in shares of Morningstar by 278.2% in the first quarter. Geneos Wealth Management Inc. now owns 208 shares of the business services provider’s stock worth $62,000 after buying an additional 153 shares during the period. QRG Capital Management Inc. increased its position in shares of Morningstar by 12.6% in the second quarter. QRG Capital Management Inc. now owns 1,181 shares of the business services provider’s stock worth $371,000 after acquiring an additional 132 shares in the last quarter. Finally, KLP Kapitalforvaltning AS raised its holdings in shares of Morningstar by 1.8% during the second quarter. KLP Kapitalforvaltning AS now owns 5,800 shares of the business services provider’s stock valued at $1,821,000 after acquiring an additional 100 shares during the period. 57.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MORN has been the topic of a number of recent analyst reports. UBS Group dropped their price target on shares of Morningstar from $350.00 to $320.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. BMO Capital Markets set a $250.00 price target on Morningstar in a research note on Thursday, October 30th. Wall Street Zen upgraded Morningstar from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Morningstar in a report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $285.00.

About Morningstar

Morningstar, Inc is a leading provider of independent investment research, data, and analytics, serving both individual investors and financial professionals. The company offers comprehensive coverage of financial products, including mutual funds, exchange-traded funds (ETFs), stocks, bonds and market indexes. Morningstar’s proprietary rating systems and research methodologies help clients assess the risk and return profiles of investment opportunities and make informed decisions.

Its core products include Morningstar Direct, an institutional investment analysis platform; Morningstar Office Cloud, a portfolio management solution for advisors; and Morningstar Data, which delivers extensive datasets through APIs and data feeds.