Intel stock extends gains after report of possible U.S. government stake
Joseph Mansueto, Executive Chairman of Morningstar , Inc. (NASDAQ:MORN), recently sold a significant portion of his holdings in the company. According to a recent SEC filing, Mansueto disposed of a total of 9,062 shares of Morningstar’s common stock on March 5, 2025. The shares were sold at prices ranging from $298.5538 to $304.4924, amounting to a total transaction value of approximately $2.7 million. The transaction comes as the $12.66 billion market cap company maintains strong financial health, with revenue growing 11.6% over the last twelve months.
Following these transactions, Mansueto retains direct ownership of 10,047,332 shares. Additionally, he holds indirect ownership of 4,836,106 shares through grantor retained annuity trusts and 150,000 shares through trusts for his children. The sales were conducted under a pre-arranged trading plan adopted on November 17, 2023, in accordance with Rule 10b5-1. The stock, currently trading at a P/E ratio of 34.32, has declined 10.18% year-to-date. InvestingPro analysis suggests the stock is fairly valued, with additional insights available through their comprehensive financial analysis tools.
In other recent news, Morningstar, Inc. reported its fourth-quarter 2024 earnings, surpassing consensus expectations, primarily due to robust performance in its Credit segment. The company’s revenue growth and margin expansion exceeded forecasts across most operating segments, although the Data & Analytics division experienced slower growth due to a recent divestiture. BMO Capital Markets adjusted its outlook on Morningstar, reducing the price target from $387.00 to $370.00, while maintaining an Outperform rating. Additionally, Morningstar has engaged in share repurchases, buying back approximately $12 million worth of its shares in the fourth quarter of 2024.
Morningstar announced a strategic partnership with SS&C Technologies, integrating its Direct Advisory Suite with SS&C’s Black Diamond (NASDAQ:CLAR) Wealth Platform, enhancing advisor productivity and client engagement. In regulatory news, Morningstar disclosed responses to investor questions in a recent SEC filing, emphasizing transparency and outlining potential risks and uncertainties in its forward-looking statements. Michael Holt will take over as the new chief financial officer of Morningstar on January 1, 2025, succeeding Jason Dubinsky, who will move to a consulting role. Holt has been with Morningstar since 2008 and has held various leadership positions, including chief strategy officer and president of the Research and Investments group.
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