Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph D. Mansueto Sells 1,716 Shares of Stock

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph D. Mansueto sold 1,716 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $327.89, for a total transaction of $562,659.24. Following the completion of the sale, the chairman now directly owns 10,151,120 shares of the company’s stock, valued at $3,328,450,736.80. This represents a 0.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Morningstar Stock Down 0.4 %

MORN stock opened at $325.70 on Wednesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.14 and a quick ratio of 1.14. The company has a 50-day moving average of $338.68 and a two-hundred day moving average of $328.64. The stock has a market capitalization of $13.97 billion, a price-to-earnings ratio of 43.03 and a beta of 1.20. Morningstar, Inc. has a 52-week low of $269.51 and a 52-week high of $365.00.

Morningstar Increases Dividend

The firm also recently declared 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 is an increase from Morningstar’s previous quarterly dividend of $0.41. This represents a $1.82 annualized dividend and a yield of 0.56%. The ex-dividend date is Friday, October 3rd. Morningstar’s payout ratio is currently 24.04%.

Institutional Investors Weigh In On Morningstar

Hedge funds have recently modified their holdings of the business. Bradley & Co. Private Wealth Management LLC bought a new position in Morningstar during the fourth quarter worth $28,000. V Square Quantitative Management LLC bought a new position in shares of Morningstar during the 3rd quarter worth about $30,000. R Squared Ltd bought a new position in shares of Morningstar during the 4th quarter worth about $40,000. Venturi Wealth Management LLC raised its position in shares of Morningstar by 101.7% during the third quarter. Venturi Wealth Management LLC now owns 121 shares of the business services provider’s stock valued at $39,000 after buying an additional 61 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Morningstar in the 3rd quarter worth approximately $58,000. 57.02% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Redburn Atlantic cut shares of Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 price objective for the company. in a report on Wednesday, October 9th. UBS Group began coverage on Morningstar in a report on Tuesday, October 8th. They set a “buy” rating and a $390.00 price objective on the stock. Finally, StockNews.com upgraded Morningstar from a “hold” rating to a “buy” rating in a report on Wednesday, January 15th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $360.67.

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.