Joseph D. Mansueto Sells 8,393 Shares of Morningstar, Inc. (NASDAQ:MORN) Stock

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph D. Mansueto sold 8,393 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $327.89, for a total value of $2,751,980.77. Following the sale, the chairman now owns 10,096,098 shares of the company’s stock, valued at $3,310,409,573.22. The trade was a 0.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Morningstar Stock Up 0.4 %

NASDAQ MORN opened at $323.21 on Wednesday. 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 stock has a market capitalization of $13.86 billion, a P/E ratio of 42.70 and a beta of 1.20. The stock has a fifty day moving average of $329.57 and a 200-day moving average of $330.05. Morningstar, Inc. has a 52 week low of $281.37 and a 52 week high of $365.00.

Morningstar Increases Dividend

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

Hedge Funds Weigh In On Morningstar

Institutional investors and hedge funds have recently modified their holdings of the business. Blue Trust Inc. boosted its stake in shares of Morningstar by 125.2% during the 3rd quarter. Blue Trust Inc. now owns 250 shares of the business services provider’s stock worth $74,000 after buying an additional 139 shares during the last quarter. Louisiana State Employees Retirement System grew its holdings in Morningstar by 1.4% in the 3rd quarter. Louisiana State Employees Retirement System now owns 7,500 shares of the business services provider’s stock valued at $2,393,000 after buying an additional 100 shares in the last quarter. State of Alaska Department of Revenue raised its stake in Morningstar by 2.1% in the 3rd quarter. State of Alaska Department of Revenue now owns 15,202 shares of the business services provider’s stock worth $4,850,000 after purchasing an additional 315 shares in the last quarter. Boston Financial Mangement LLC bought a new stake in shares of Morningstar in the third quarter valued at approximately $19,666,000. Finally, Diversify Wealth Management LLC lifted its position in shares of Morningstar by 6.8% during the 3rd quarter. Diversify Wealth Management LLC now owns 2,245 shares of the business services provider’s stock valued at $767,000 after acquiring an additional 143 shares during the period. 57.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Morningstar from a “buy” rating to a “hold” rating in a research report on Monday, February 17th.

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.