Joseph Mansueto, Executive Chairman of Morningstar , Inc. (NASDAQ:MORN), a $14 billion market cap financial services company, has sold a significant portion of his holdings in the company. According to InvestingPro data, the company maintains strong financial health with consistent revenue growth of 12.5% over the last twelve months. According to a recent SEC filing, Mansueto sold a total of 10,972 shares of Morningstar common stock over two days, from February 12 to February 13, 2025. The sales were executed at prices ranging from $320.57 to $328.67 per share, amounting to a total transaction value of approximately $3.18 million. The stock currently trades at a P/E ratio of 42.7, with analysts expecting continued profitability this year.
Following these transactions, Mansueto's direct ownership in Morningstar stands at 10,121,886 shares. The sales were conducted under a Rule 10b5-1 trading plan, which allows company insiders to set up a predetermined plan to sell stock, helping to avoid concerns about insider trading.
In addition to his direct holdings, Mansueto also holds shares indirectly through trusts, which remain unchanged following these transactions.
In other recent news, Morningstar, Inc. has made several significant developments. The company announced a strategic partnership with SS&C Technologies, Inc., integrating Morningstar's Direct Advisory Suite with SS&C's Black Diamond (NASDAQ:CLAR) Wealth Platform. This collaboration introduces Morningstar's investment data and research tools into the Black Diamond platform, aiming to enhance advisor productivity and client engagement.
In addition to this, Morningstar has disclosed responses to investor queries in a recent filing with the Securities and Exchange Commission. The company also announced that Michael Holt will assume the role of chief financial officer starting January 1, 2025. Holt, who has been with the company since 2008, will succeed Jason Dubinsky, who is transitioning to a consulting role.
These are among the latest developments for Morningstar, which continues to make strides in its operations and strategic partnerships. The company's emphasis on transparent corporate communication is evident in their recent SEC filings, and the appointment of a new CFO indicates a commitment to leadership continuity and growth.
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