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Joseph Mansueto, Executive Chairman of Morningstar , Inc. (NASDAQ:MORN), recently sold shares worth approximately $3.2 million, according to a Form 4 filing with the Securities and Exchange Commission. The transactions took place over two days, February 20 and 21, 2025. Mansueto sold a total of 9,803 shares at prices ranging from $326.5603 to $328.6821 per share. The sales occurred with the stock trading at a P/E ratio of 42.24, near its 52-week high of $365.
The sales were conducted under a Rule 10b5-1 trading plan, which Mansueto adopted in November 2023. Following these transactions, Mansueto holds a direct ownership of 10,094,688 shares in Morningstar, Inc. Additionally, he has indirect ownership of 4,836,106 shares held in grantor retained annuity trusts and 150,000 shares in trusts for his children, managed by his spouse. These holdings represent a significant portion of Morningstar’s $13.82 billion market capitalization. According to InvestingPro, the company maintains strong financial health with consistent dividend growth over the past four years.
These transactions are part of a pre-arranged trading plan, which allows insiders to sell a predetermined number of shares at a predetermined time, providing a level of transparency and predictability in the market. Analysts maintain a positive outlook, with price targets ranging from $355 to $390 per share.
In other recent news, Morningstar, Inc. announced a strategic partnership with SS&C Technologies, integrating its Direct Advisory Suite with SS&C’s Black Diamond (NASDAQ:CLAR) Wealth Platform. This collaboration aims to enhance advisor productivity by providing access to Morningstar’s investment data and research tools directly within the Black Diamond platform. Additionally, Morningstar will retire its Morningstar Office product, facilitating a migration to the Black Diamond platform to offer a more connected experience for advisors. In regulatory developments, Morningstar filed a Form 8-K with the SEC, which included a Q&A section addressing investor queries. This filing is part of Morningstar’s commitment to transparent corporate communication and includes forward-looking statements highlighting various risks and uncertainties. The company also announced that Michael Holt will become the new chief financial officer starting January 1, 2025, succeeding Jason Dubinsky. Holt, who has been with Morningstar since 2008, has held several leadership roles and will now lead the global finance organization. These recent developments reflect Morningstar’s strategic initiatives and leadership changes as it continues to navigate the evolving financial landscape.
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