Morningstar (NASDAQ:MORN) Chairman Sells $1,077,108.64 in Stock

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph Mansueto sold 6,352 shares of the stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $169.57, for a total transaction of $1,077,108.64. Following the completion of the transaction, the chairman directly owned 8,217,309 shares of the company’s stock, valued at approximately $1,393,409,087.13. This trade represents a 0.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Morningstar Stock Down 2.2%

MORN opened at $165.47 on Monday. The business’s fifty day moving average is $210.44 and its two-hundred day moving average is $228.52. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market cap of $6.81 billion, a price-to-earnings ratio of 18.82 and a beta of 1.08. Morningstar, Inc. has a one year low of $164.62 and a one year high of $330.55.

Morningstar Dividend Announcement

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

Hedge Funds Weigh In On Morningstar

Hedge funds and other institutional investors have recently made changes to their positions in the business. Creative Planning boosted its position in Morningstar by 75.3% during the second quarter. Creative Planning now owns 4,506 shares of the business services provider’s stock valued at $1,415,000 after purchasing an additional 1,936 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Morningstar by 32.0% in the 3rd quarter. Principal Financial Group Inc. now owns 91,155 shares of the business services provider’s stock valued at $21,149,000 after buying an additional 22,109 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Morningstar by 3.0% in the second quarter. Nordea Investment Management AB now owns 60,181 shares of the business services provider’s stock valued at $18,801,000 after buying an additional 1,755 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Morningstar by 17.7% during the second quarter. JPMorgan Chase & Co. now owns 236,324 shares of the business services provider’s stock worth $74,191,000 after buying an additional 35,561 shares during the last quarter. Finally, Chicago Capital LLC increased its holdings in Morningstar by 24.2% during the third quarter. Chicago Capital LLC now owns 70,042 shares of the business services provider’s stock worth $16,251,000 after buying an additional 13,627 shares during the last quarter. Institutional investors and hedge funds own 57.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. BMO Capital Markets set a $250.00 price objective on shares of Morningstar in a research report on Thursday, October 30th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Morningstar in a report on Monday, December 29th. Wall Street Zen upgraded Morningstar from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Finally, UBS Group lowered their price objective on Morningstar from $350.00 to $320.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.