Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph D. Mansueto Sells 9,062 Shares of Stock

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph D. Mansueto sold 9,062 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $323.03, for a total value of $2,927,297.86. Following the sale, the chairman now owns 10,085,626 shares in the company, valued at approximately $3,257,959,766.78. This trade represents a 0.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Morningstar Stock Down 1.0 %

Morningstar stock opened at $319.96 on Thursday. The firm has a market capitalization of $13.72 billion, a price-to-earnings ratio of 42.27 and a beta of 1.20. The company’s 50 day simple moving average is $328.69 and its 200 day simple moving average is $330.11. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.14 and a quick ratio of 1.14. Morningstar, Inc. has a fifty-two week low of $281.37 and a fifty-two week high of $365.00.

Morningstar (NASDAQ:MORN) last posted its earnings results on Wednesday, February 26th. The business services provider reported $2.14 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.15. Morningstar had a return on equity of 23.28% and a net margin of 14.69%.

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 issued a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend is Friday, October 3rd. This is a boost from Morningstar’s previous quarterly dividend of $0.41. Morningstar’s dividend payout ratio is 24.04%.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Morningstar

Several hedge funds and other institutional investors have recently modified their holdings of MORN. Mackenzie Financial Corp acquired a new stake in Morningstar in the 4th quarter valued at approximately $915,000. Forum Financial Management LP bought a new position in shares of Morningstar during the 4th quarter worth approximately $223,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Morningstar by 10.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 98,337 shares of the business services provider’s stock valued at $33,116,000 after purchasing an additional 9,658 shares during the last quarter. Two Sigma Advisers LP lifted its position in shares of Morningstar by 795.7% in the fourth quarter. Two Sigma Advisers LP now owns 20,600 shares of the business services provider’s stock worth $6,937,000 after purchasing an additional 18,300 shares in the last quarter. Finally, Two Sigma Investments LP acquired a new position in Morningstar during the fourth quarter worth $12,203,000. Institutional investors and hedge funds 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.