Insider Selling: Morningstar, Inc. (NASDAQ:MORN) Chairman Sells $40,371.34 in Stock

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph D. Mansueto sold 118 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $342.13, for a total transaction of $40,371.34. Following the completion of the transaction, the chairman now directly owns 10,788,378 shares in the company, valued at approximately $3,691,027,765.14. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Morningstar Price Performance

Shares of NASDAQ:MORN opened at $335.77 on Thursday. Morningstar, Inc. has a fifty-two week low of $269.51 and a fifty-two week high of $352.55. The company’s 50-day moving average is $330.54 and its 200 day moving average is $312.28. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.14 and a current ratio of 1.14. The company has a market capitalization of $14.40 billion, a P/E ratio of 44.36 and a beta of 1.18.

Morningstar (NASDAQ:MORN) last released its earnings results on Wednesday, October 23rd. The business services provider reported $2.00 earnings per share for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.01). Morningstar had a net margin of 14.69% and a return on equity of 23.28%. The company had revenue of $569.40 million for the quarter.

Morningstar Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were issued a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Friday, October 4th. Morningstar’s dividend payout ratio (DPR) is currently 21.40%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on MORN shares. UBS Group began coverage on Morningstar in a research report on Tuesday, October 8th. They set a “buy” rating and a $390.00 target price on the stock. BMO Capital Markets reaffirmed an “outperform” rating and set a $352.00 price objective on shares of Morningstar in a report on Wednesday, August 28th. StockNews.com upgraded shares of Morningstar from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Finally, Redburn Atlantic lowered shares of Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 price target on the stock. in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Morningstar presently has a consensus rating of “Moderate Buy” and a consensus price target of $360.67.

Institutional Investors Weigh In On Morningstar

Several institutional investors have recently added to or reduced their stakes in MORN. M&G Plc increased its stake in shares of Morningstar by 2.0% in the second quarter. M&G Plc now owns 173,105 shares of the business services provider’s stock worth $51,239,000 after purchasing an additional 3,322 shares in the last quarter. Tidal Investments LLC purchased a new position in Morningstar in the 1st quarter valued at approximately $1,207,000. Harbor Capital Advisors Inc. lifted its position in shares of Morningstar by 295.4% during the second quarter. Harbor Capital Advisors Inc. now owns 2,637 shares of the business services provider’s stock worth $780,000 after acquiring an additional 1,970 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Morningstar in the second quarter worth $9,366,000. Finally, CANADA LIFE ASSURANCE Co raised its stake in shares of Morningstar by 12.7% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 17,696 shares of the business services provider’s stock valued at $5,452,000 after purchasing an additional 1,997 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.