Joseph D. Mansueto, the Executive Chairman of Morningstar, Inc. (NASDAQ: MORN), sold a total of 13,858 shares of common stock across multiple transactions on February 19 and 20, 2026, generating proceeds of approximately $2.2 million.
The disposals took place in tranches. On February 19, Mansueto sold 7,250 shares. Of those, 7,138 shares were transacted at a weighted average price of $161.8556 per share, with individual trade prices ranging from $161.7500 to $162.7250. An additional 112 shares were sold that day at $162.75 per share.
On February 20, he sold 6,608 shares. Within that total, 5,147 shares were disposed of at a weighted average price of $161.1027, with prices for that group spanning $160.8500 to $161.7900. The remaining 1,461 shares sold on February 20 traded at a weighted average price of $162.1599, with trade prices in that lot ranging from $161.8900 to $162.6750.
Across the two days, the per‑share prices reported for the sales fell within the range of $161.1027 to $162.75.
After completing these transactions, Mansueto directly owns 8,170,354 shares of Morningstar common stock. He also retains indirect holdings of 6,282,935 shares held in grantor retained annuity trusts and 150,000 shares held in trusts for the benefit of his children.
The insider sales were executed under a Rule 10b5-1 trading plan that Mansueto adopted on November 15, 2024.
Morningstar shares were trading at $159.48 at the time of the report, approximately 51% below their 52-week high of $328.70. InvestingPro data cited in connection with the company shows the stock has lost about 50% of its value over the past year. The company carries a market capitalization of $6.31 billion and a price-to-earnings ratio of 18.03. InvestingPro analysis is referenced as suggesting the stock is currently undervalued, with additional insights available to subscribers.
The company continues to return capital to shareholders through dividends. Morningstar offers a dividend yield of 1.25% and announced a 10% increase in its quarterly dividend to $0.50 per share, payable January 30, 2026, to shareholders of record as of January 2, 2026.
On the corporate development front, Morningstar completed its $365 million acquisition of the Center for Research in Security Prices (CRSP) from the University of Chicago. The deal brings the CRSP Market Indexes into Morningstar’s index family; those indexes benchmark more than $3 trillion in U.S. equity assets and are planned to be rebranded under the Morningstar name.
Leadership changes were also announced. Scott Brown will become President of Morningstar’s Direct Platform business effective March 2, 2026, overseeing the company’s largest segment which includes Morningstar Direct, Morningstar Data, and the Direct Advisory Suite. In addition, Anne Bramman was elected to Morningstar’s board of directors; her background is described as more than 30 years of leadership experience, including prior chief financial officer roles at Nordstrom and Avery Dennison.
These operational and governance updates accompany the insider sale activity and broader market performance noted above. The transactions described were specific in their timing, share counts and price ranges and were conducted pursuant to the previously adopted 10b5-1 plan.
Key points
- Joseph D. Mansueto sold 13,858 Morningstar shares on Feb 19-20, 2026, for roughly $2.2 million under a Rule 10b5-1 plan.
- Morningstar has completed the $365 million acquisition of CRSP and plans to rebrand the CRSP Market Indexes within its index family.
- The company raised its quarterly dividend 10% to $0.50, and named Scott Brown president of its Direct Platform business effective March 2, 2026.
Risks and uncertainties
- Market performance - Morningstar shares were trading at $159.48, about 51% below the 52-week high, and have declined roughly 50% over the past year per InvestingPro data.
- Valuation and investor perception - While InvestingPro analysis suggests the stock may be undervalued, that assessment is subject to the limitations of subscriber-only analytic services.
- Execution risks related to integration - The CRSP acquisition and planned rebranding introduce integration and rebranding execution tasks that the company will need to manage.