Morningstar (NASDAQ:MORN) Chairman Joseph Mansueto Sells 6,464 Shares

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph Mansueto sold 6,464 shares of the business’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $185.21, for a total transaction of $1,197,197.44. Following the transaction, the chairman owned 8,223,661 shares in the company, valued at $1,523,104,253.81. The trade was a 0.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Morningstar Price Performance

MORN stock opened at $165.47 on Friday. Morningstar, Inc. has a 1 year low of $164.62 and a 1 year high of $330.55. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market capitalization of $6.81 billion, a PE ratio of 18.82 and a beta of 1.08. The business has a 50 day simple moving average of $210.44 and a 200-day simple moving average of $229.19.

Morningstar Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 2nd will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $2.00 annualized dividend and a dividend yield of 1.2%. Morningstar’s payout ratio is presently 22.75%.

Hedge Funds Weigh In On Morningstar

A number of hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC lifted its stake in Morningstar by 88.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 819 shares of the business services provider’s stock worth $178,000 after purchasing an additional 384 shares in the last quarter. Legato Capital Management LLC acquired a new stake in shares of Morningstar in the fourth quarter valued at $323,000. Global Retirement Partners LLC raised its holdings in shares of Morningstar by 2,600.0% in the 4th quarter. Global Retirement Partners LLC now owns 351 shares of the business services provider’s stock valued at $76,000 after buying an additional 338 shares during the period. IFP Advisors Inc lifted its stake in Morningstar by 122.5% during the 4th quarter. IFP Advisors Inc now owns 563 shares of the business services provider’s stock worth $122,000 after acquiring an additional 310 shares in the last quarter. Finally, AlphaCore Capital LLC acquired a new position in Morningstar during the 4th quarter worth about $334,000. Hedge funds and other institutional investors own 57.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on MORN shares. UBS Group reduced their target price on shares of Morningstar from $350.00 to $320.00 and set a “buy” rating on the stock in a research note on Thursday, October 30th. Wall Street Zen raised shares of Morningstar from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Morningstar in a report on Monday, December 29th. Finally, BMO Capital Markets set a $250.00 price objective on Morningstar in a research report on Thursday, October 30th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Morningstar has an average rating of “Moderate Buy” and a consensus target price of $285.00.

About Morningstar

Morningstar, Inc is a leading provider of independent investment research, data, and analytics, serving both individual investors and financial professionals. The company offers comprehensive coverage of financial products, including mutual funds, exchange-traded funds (ETFs), stocks, bonds and market indexes. Morningstar’s proprietary rating systems and research methodologies help clients assess the risk and return profiles of investment opportunities and make informed decisions.

Its core products include Morningstar Direct, an institutional investment analysis platform; Morningstar Office Cloud, a portfolio management solution for advisors; and Morningstar Data, which delivers extensive datasets through APIs and data feeds.