Insider Selling: Morningstar, Inc. (NASDAQ:MORN) Chairman Sells 1,280 Shares of Stock

Morningstar, Inc. (NASDAQ:MORN - Get Free Report) Chairman Joseph D. Mansueto sold 1,280 shares of the business's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $320.57, for a total value of $410,329.60. Following the completion of the transaction, the chairman now directly owns 10,130,378 shares of the company's stock, valued at approximately $3,247,495,275.46. This trade represents a 0.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Morningstar Price Performance

Morningstar stock traded up $3.03 during midday trading on Tuesday, reaching $328.05. The company's stock had a trading volume of 33,884 shares, compared to its average volume of 107,084. Morningstar, Inc. has a 52 week low of $269.51 and a 52 week high of $365.00. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.55. The business has a 50-day moving average price of $332.66 and a 200-day moving average price of $329.30. The stock has a market cap of $14.07 billion, a PE ratio of 43.35 and a beta of 1.20.

Morningstar Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 3rd will be issued a dividend of $0.455 per share. This is a boost from Morningstar's previous quarterly dividend of $0.41. This represents a $1.82 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend is Friday, October 3rd. Morningstar's payout ratio is 24.04%.

Institutional Trading of Morningstar

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Harbor Capital Advisors Inc. grew its holdings in shares of Morningstar by 0.7% during the fourth quarter. Harbor Capital Advisors Inc. now owns 5,626 shares of the business services provider's stock worth $1,895,000 after purchasing an additional 37 shares during the last quarter. Versant Capital Management Inc boosted its holdings in Morningstar by 15.9% in the fourth quarter. Versant Capital Management Inc now owns 285 shares of the business services provider's stock valued at $96,000 after acquiring an additional 39 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in Morningstar by 3.4% in the third quarter. CIBC Asset Management Inc now owns 1,259 shares of the business services provider's stock valued at $402,000 after acquiring an additional 41 shares during the last quarter. Deutsche Bank AG boosted its holdings in Morningstar by 2.4% in the fourth quarter. Deutsche Bank AG now owns 1,798 shares of the business services provider's stock valued at $605,000 after acquiring an additional 42 shares during the last quarter. Finally, V Square Quantitative Management LLC boosted its holdings in Morningstar by 49.5% in the fourth quarter. V Square Quantitative Management LLC now owns 139 shares of the business services provider's stock valued at $47,000 after acquiring an additional 46 shares during the last quarter. 57.02% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Morningstar from a "buy" rating to a "hold" rating in a research report on Monday. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Morningstar presently has a consensus rating of "Moderate Buy" and a consensus target price of $360.67.

Morningstar Company Profile

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.