Morningstar, Inc. (NASDAQ:MORN - Get Free Report) CFO Jason Dubinsky sold 3,223 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $352.88, for a total value of $1,137,332.24. Following the completion of the sale, the chief financial officer now owns 17,304 shares in the company, valued at approximately $6,106,235.52. This trade represents a 15.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Morningstar Price Performance
NASDAQ:MORN opened at $355.53 on Tuesday. Morningstar, Inc. has a 52 week low of $269.51 and a 52 week high of $365.00. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.14 and a current ratio of 1.14. The firm's 50-day simple moving average is $343.52 and its 200 day simple moving average is $319.33. The firm has a market cap of $15.25 billion, a price-to-earnings ratio of 46.97 and a beta of 1.19.
Morningstar (NASDAQ:MORN - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The business services provider reported $2.00 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.01 by ($0.01). The business had revenue of $569.40 million for the quarter. Morningstar had a return on equity of 23.28% and a net margin of 14.69%.
Morningstar Increases Dividend
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The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 3rd will be given a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 0.51%. This is an increase from Morningstar's previous quarterly dividend of $0.41. The ex-dividend date is Friday, October 3rd. Morningstar's dividend payout ratio is presently 24.04%.
Institutional Trading of Morningstar
Several large investors have recently modified their holdings of MORN. CIBC Asset Management Inc lifted its position in Morningstar by 3.4% during the third quarter. CIBC Asset Management Inc now owns 1,259 shares of the business services provider's stock worth $402,000 after purchasing an additional 41 shares during the period. Legacy Advisors LLC raised its position in shares of Morningstar by 1.6% in the 2nd quarter. Legacy Advisors LLC now owns 3,025 shares of the business services provider's stock valued at $895,000 after buying an additional 49 shares in the last quarter. Planning Alternatives Ltd. ADV lifted its holdings in shares of Morningstar by 2.2% during the 3rd quarter. Planning Alternatives Ltd. ADV now owns 2,254 shares of the business services provider's stock worth $719,000 after acquiring an additional 49 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of Morningstar by 38.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 196 shares of the business services provider's stock worth $58,000 after acquiring an additional 54 shares in the last quarter. Finally, George Kaiser Family Foundation increased its stake in Morningstar by 0.7% in the second quarter. George Kaiser Family Foundation now owns 7,693 shares of the business services provider's stock valued at $2,276,000 after acquiring an additional 55 shares during the last quarter. 57.02% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on MORN shares. StockNews.com raised shares of Morningstar from a "hold" rating to a "buy" rating in a research report on Thursday, December 12th. Redburn Atlantic cut shares of Morningstar from a "buy" rating to a "neutral" rating and set a $340.00 price target on the stock. in a report on Wednesday, October 9th. UBS Group started coverage on Morningstar in a report on Tuesday, October 8th. They set a "buy" rating and a $390.00 price objective for the company. Finally, BMO Capital Markets reaffirmed an "outperform" rating and issued a $352.00 target price on shares of Morningstar in a research report on Wednesday, August 28th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $360.67.
Check Out Our Latest Report on MORN
About Morningstar
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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.
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