Morningstar, Inc. (NASDAQ:MORN - Get Free Report) Chairman Joseph Mansueto sold 3,122 shares of the firm's stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $182.32, for a total value of $569,203.04. Following the transaction, the chairman owned 8,138,232 shares of the company's stock, valued at approximately $1,483,762,458.24. This represents a 0.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Morningstar Trading Down 0.5%
Shares of NASDAQ MORN opened at $182.31 on Tuesday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $7.22 billion, a PE ratio of 20.46 and a beta of 1.10. Morningstar, Inc. has a twelve month low of $149.08 and a twelve month high of $318.95. The stock has a fifty day simple moving average of $194.41 and a 200-day simple moving average of $216.78.
Morningstar (NASDAQ:MORN - Get Free Report) last announced its earnings results on Thursday, February 12th. The business services provider reported $2.71 EPS for the quarter, beating analysts' consensus estimates of $2.34 by $0.37. The company had revenue of $641.10 million during 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 Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders 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 annualized dividend and a dividend yield of 1.1%. Morningstar's dividend payout ratio (DPR) is presently 22.45%.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in MORN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Morningstar by 23.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 178 shares of the business services provider's stock worth $53,000 after acquiring an additional 34 shares in the last quarter. Focus Partners Wealth increased its stake in Morningstar by 3.4% in the first quarter. Focus Partners Wealth now owns 3,838 shares of the business services provider's stock valued at $1,151,000 after purchasing an additional 126 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in Morningstar by 278.2% during the first quarter. Geneos Wealth Management Inc. now owns 208 shares of the business services provider's stock worth $62,000 after purchasing an additional 153 shares in the last quarter. Burney Co. purchased a new stake in shares of Morningstar during the 2nd quarter worth approximately $226,000. Finally, Bank of Montreal Can boosted its holdings in shares of Morningstar by 879.8% in the 2nd quarter. Bank of Montreal Can now owns 52,342 shares of the business services provider's stock valued at $16,432,000 after buying an additional 47,000 shares in the last quarter. Hedge funds and other institutional investors own 57.02% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts have issued reports on MORN shares. Wall Street Zen upgraded shares of Morningstar from a "hold" rating to a "buy" rating in a report on Friday, January 23rd. Weiss Ratings upgraded Morningstar from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday. UBS Group set a $280.00 target price on Morningstar in a report on Friday, February 13th. Finally, BMO Capital Markets cut their price target on Morningstar from $257.00 to $193.00 and set an "outperform" rating on the stock in a report on Tuesday, February 17th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $236.50.
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Morningstar Company Profile
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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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