Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph D. Mansueto Sells 2,495 Shares of Stock

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph D. Mansueto sold 2,495 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $326.44, for a total transaction of $814,467.80. Following the completion of the transaction, the chairman now directly owns 10,133,353 shares of the company’s stock, valued at approximately $3,307,931,753.32. This represents a 0.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Morningstar Stock Performance

Shares of MORN stock opened at $321.53 on Wednesday. The stock has a market cap of $13.79 billion, a PE ratio of 42.47 and a beta of 1.20. Morningstar, Inc. has a 52-week low of $269.51 and a 52-week high of $365.00. The business has a 50-day simple moving average of $335.77 and a 200-day simple moving average of $329.19. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.55.

Morningstar Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 3rd will be given a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 0.57%. The ex-dividend date is Friday, October 3rd. This is a positive change from Morningstar’s previous quarterly dividend of $0.41. Morningstar’s dividend payout ratio is currently 24.04%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Morningstar from a “hold” rating to a “buy” rating in a research note on Wednesday, January 15th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $360.67.

Hedge Funds Weigh In On Morningstar

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Morningstar by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 2,803,611 shares of the business services provider’s stock valued at $944,144,000 after buying an additional 51,598 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Morningstar by 9.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,201,708 shares of the business services provider’s stock worth $383,489,000 after acquiring an additional 102,206 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Morningstar by 0.5% during the 3rd quarter. Wellington Management Group LLP now owns 950,512 shares of the business services provider’s stock valued at $303,327,000 after acquiring an additional 5,158 shares during the period. State Street Corp increased its stake in shares of Morningstar by 3.7% in the 3rd quarter. State Street Corp now owns 804,293 shares of the business services provider’s stock valued at $256,666,000 after purchasing an additional 28,698 shares in the last quarter. Finally, Wasatch Advisors LP raised its holdings in Morningstar by 13.9% in the 3rd quarter. Wasatch Advisors LP now owns 696,023 shares of the business services provider’s stock worth $222,115,000 after purchasing an additional 85,098 shares during the period. 57.02% of the stock is owned by hedge funds and other institutional investors.

About Morningstar

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.