Insider Selling: Morningstar, Inc. (NASDAQ:MORN) Chairman Sells $2,962,005.32 in Stock

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph D. Mansueto sold 9,062 shares of Morningstar stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $326.86, for a total transaction of $2,962,005.32. Following the transaction, the chairman now owns 10,109,617 shares in the company, valued at $3,304,429,412.62. The trade was a 0.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Morningstar Stock Performance

Morningstar stock opened at $322.38 on Friday. Morningstar, Inc. has a 12-month low of $273.56 and a 12-month high of $365.00. The company has a market capitalization of $13.82 billion, a price-to-earnings ratio of 42.59 and a beta of 1.20. 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 firm’s fifty day moving average price is $330.24 and its 200 day moving average price is $329.54.

Morningstar Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 3rd will be paid a dividend of $0.455 per share. This is an increase from Morningstar’s previous quarterly dividend of $0.41. The ex-dividend date is Friday, October 3rd. This represents a $1.82 annualized dividend and a yield of 0.56%. Morningstar’s payout ratio is 24.04%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Morningstar from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $360.67.

Institutional Investors Weigh In On Morningstar

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MORN. Geode Capital Management LLC increased its position in shares of Morningstar by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 497,411 shares of the business services provider’s stock worth $158,772,000 after purchasing an additional 10,437 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Morningstar by 2.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 191,765 shares of the business services provider’s stock worth $61,196,000 after purchasing an additional 5,045 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Morningstar by 12.7% in the 3rd quarter. Victory Capital Management Inc. now owns 15,843 shares of the business services provider’s stock worth $5,056,000 after purchasing an additional 1,789 shares during the last quarter. Quantbot Technologies LP increased its position in shares of Morningstar by 259.3% in the 3rd quarter. Quantbot Technologies LP now owns 13,769 shares of the business services provider’s stock worth $4,394,000 after purchasing an additional 9,937 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Morningstar in the 3rd quarter worth about $3,181,000. Hedge funds and other institutional investors own 57.02% of the company’s stock.

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.