Key Points
- Chairman Joseph Mansueto sold 7,250 shares of Morningstar at an average price of $159.47 for $1,156,157.50, leaving him with 8,163,104 shares valued at roughly $1.302 billion (a 0.09% drop in his ownership).
- Morningstar beat expectations with $2.71 EPS versus $2.34 expected and $641.1 million in revenue versus $634.4 million expected, reporting a 27.94% return on equity and a 15.3% net margin.
- The company declared a quarterly dividend of $0.50 ($2.00 annualized), implying a 1.1% yield and a payout ratio of 22.45%.
Morningstar, Inc. (NASDAQ:MORN - Get Free Report) Chairman Joseph Mansueto sold 7,250 shares of Morningstar stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $159.47, for a total transaction of $1,156,157.50. Following the completion of the sale, the chairman owned 8,163,104 shares in the company, valued at approximately $1,301,770,194.88. This represents a 0.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Morningstar Price Performance
MORN stock traded up $6.36 during mid-day trading on Thursday, hitting $178.77. The company had a trading volume of 72,820 shares, compared to its average volume of 586,413. The company has a 50-day moving average price of $196.28 and a 200 day moving average price of $218.66. Morningstar, Inc. has a 12-month low of $149.08 and a 12-month high of $322.48. The company has a market capitalization of $7.08 billion, a price-to-earnings ratio of 20.19 and a beta of 1.08. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.88.
Morningstar (NASDAQ:MORN - Get Free Report) last issued its earnings results on Thursday, February 12th. The business services provider reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.34 by $0.37. The firm had revenue of $641.10 million for the quarter, compared to analysts' expectations of $634.43 million. Morningstar had a return on equity of 27.94% and a net margin of 15.30%.
Morningstar Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 2nd will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $2.00 dividend on an annualized basis and a yield of 1.1%. Morningstar's payout ratio is presently 22.45%.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on MORN shares. BMO Capital Markets cut their target price on shares of Morningstar from $257.00 to $193.00 and set an "outperform" rating for the company in a report on Tuesday, February 17th. Weiss Ratings lowered shares of Morningstar from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Thursday, February 12th. UBS Group set a $280.00 target price on shares of Morningstar in a report on Friday, February 13th. Finally, Wall Street Zen upgraded shares of Morningstar from a "hold" rating to a "buy" rating in a research report on Friday, January 23rd. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $236.50.
View Our Latest Research Report on MORN
Institutional Investors Weigh In On Morningstar
Several institutional investors have recently made changes to their positions in MORN. MidFirst Bank purchased a new stake in Morningstar in the 4th quarter worth about $3,400,000. Kera Capital Partners Inc. purchased a new stake in shares of Morningstar in the fourth quarter worth approximately $686,000. Corient Private Wealth LLC lifted its stake in shares of Morningstar by 1,196.5% during the 4th quarter. Corient Private Wealth LLC now owns 260,978 shares of the business services provider's stock worth $56,713,000 after acquiring an additional 240,848 shares during the last quarter. Alberta Investment Management Corp purchased a new position in Morningstar during the 4th quarter valued at $1,369,000. Finally, Mercer Global Advisors Inc. ADV grew its position in Morningstar by 153.0% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 10,061 shares of the business services provider's stock valued at $2,186,000 after acquiring an additional 6,084 shares during the last quarter. Institutional investors own 57.02% of the company's stock.
Morningstar Company Profile
(
Get Free Report)
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.
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