Insider Selling: Morningstar, Inc. (MORN) Director Sells 20,000 Shares of Stock
Morningstar, Inc. (NASDAQ:MORN) Director Jack Noonan sold 20,000 shares of the firm’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $85.46, for a total value of $1,709,200.00. Following the transaction, the director now directly owns 3,344 shares in the company, valued at $285,778.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Morningstar, Inc. (NASDAQ:MORN) traded up 0.91% during midday trading on Tuesday, hitting $85.53. The stock had a trading volume of 38,380 shares. The firm has a market cap of $3.64 billion, a P/E ratio of 22.44 and a beta of 0.74. Morningstar, Inc. has a 52 week low of $67.74 and a 52 week high of $89.45. The stock has a 50-day moving average of $84.50 and a 200-day moving average of $79.65.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Wednesday, October 18th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, October 17th. This represents a $0.92 annualized dividend and a dividend yield of 1.09%. Morningstar’s dividend payout ratio is currently 23.53%.
Separately, BidaskClub upgraded Morningstar from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 14th.
Several hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company increased its stake in shares of Morningstar by 6.9% during the second quarter. The Manufacturers Life Insurance Company now owns 1,510 shares of the business services provider’s stock worth $118,000 after purchasing an additional 98 shares during the period. Pacer Advisors Inc. grew its position in Morningstar by 12.2% during the second quarter. Pacer Advisors Inc. now owns 2,321 shares of the business services provider’s stock worth $182,000 after buying an additional 253 shares in the last quarter. Farr Miller & Washington LLC DC acquired a new stake in Morningstar during the second quarter worth approximately $253,000. Public Employees Retirement Association of Colorado grew its position in Morningstar by 0.9% during the second quarter. Public Employees Retirement Association of Colorado now owns 3,383 shares of the business services provider’s stock worth $265,000 after buying an additional 29 shares in the last quarter. Finally, Utah Retirement Systems grew its position in Morningstar by 6.1% during the second quarter. Utah Retirement Systems now owns 3,490 shares of the business services provider’s stock worth $274,000 after buying an additional 200 shares in the last quarter. 38.37% of the stock is owned by institutional investors.
Morningstar Company Profile
Morningstar, Inc is a provider of independent investment research in North America, Europe, Australia, and Asia. The Company focuses to create products that help investors reach their financial goals. It offers a range of data, software, research, and investment management offerings for financial advisors, asset managers, sponsors, and individual investors.
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