Morningstar (NASDAQ:MORN) Reaches New 1-Year High – Here’s What Happened

Morningstar, Inc. (NASDAQ:MORN)’s stock price reached a new 52-week high on Friday . The stock traded as high as $349.25 and last traded at $348.83, with a volume of 29720 shares changing hands. The stock had previously closed at $343.27.

Analyst Ratings Changes

MORN has been the topic of a number of research reports. StockNews.com downgraded Morningstar from a “buy” rating to a “hold” rating in a report on Thursday. UBS Group started coverage on shares of Morningstar in a research note on Tuesday, October 8th. They issued a “buy” rating and a $390.00 price objective on the stock. Redburn Atlantic lowered shares of Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 target price for the company. in a research note on Wednesday, October 9th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $352.00 price target on shares of Morningstar in a research note on Wednesday, August 28th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Morningstar presently has a consensus rating of “Moderate Buy” and an average target price of $360.67.

Morningstar Trading Up 1.5 %

The company has a fifty day moving average price of $326.03 and a 200-day moving average price of $309.54. The firm has a market capitalization of $14.95 billion, a price-to-earnings ratio of 46.05 and a beta of 1.18. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.55.

Morningstar (NASDAQ:MORN) last posted its earnings results on Wednesday, October 23rd. The business services provider reported $2.00 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.01). Morningstar had a return on equity of 23.28% and a net margin of 14.69%. The business had revenue of $569.40 million during the quarter.

Morningstar Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were given a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 0.46%. The ex-dividend date was Friday, October 4th. Morningstar’s payout ratio is 21.40%.

Insider Buying and Selling at Morningstar

In other news, Director William M. Lyons sold 750 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $331.88, for a total transaction of $248,910.00. Following the completion of the sale, the director now owns 12,840 shares in the company, valued at approximately $4,261,339.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Chairman Joseph D. Mansueto sold 5,257 shares of Morningstar stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $310.37, for a total value of $1,631,615.09. Following the transaction, the chairman now owns 10,599,799 shares in the company, valued at $3,289,859,615.63. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director William M. Lyons sold 750 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $331.88, for a total transaction of $248,910.00. Following the transaction, the director now directly owns 12,840 shares of the company’s stock, valued at approximately $4,261,339.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 61,492 shares of company stock worth $19,430,128 over the last three months. Corporate insiders own 39.90% of the company’s stock.

Hedge Funds Weigh In On Morningstar

A number of institutional investors have recently made changes to their positions in MORN. BNP Paribas Financial Markets increased its position in Morningstar by 104.2% in the 1st quarter. BNP Paribas Financial Markets now owns 6,114 shares of the business services provider’s stock worth $1,885,000 after buying an additional 3,120 shares during the period. Envestnet Portfolio Solutions Inc. increased its position in Morningstar by 60.8% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 1,140 shares of the business services provider’s stock worth $352,000 after acquiring an additional 431 shares during the period. SG Americas Securities LLC raised its stake in Morningstar by 506.2% during the 1st quarter. SG Americas Securities LLC now owns 13,202 shares of the business services provider’s stock valued at $4,071,000 after purchasing an additional 11,024 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in Morningstar in the 1st quarter valued at $654,000. Finally, Sei Investments Co. grew its position in Morningstar by 2.8% in the 1st quarter. Sei Investments Co. now owns 126,932 shares of the business services provider’s stock worth $39,143,000 after purchasing an additional 3,482 shares during the last quarter. 57.02% of the stock is currently owned by institutional investors.

About Morningstar

Morningstar, Inc provides independent investment insights in the United States, Asia. Australia, Continental Europe, the United Kingdom, and internationally. The company operates in five segments: Morningstar Data and Analytics; PitchBook; Morningstar Wealth; Morningstar Credit; and Morningstar Retirement.