Morningstar (NASDAQ:MORN) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Morningstar (NASDAQ:MORN) from a hold rating to a buy rating in a report issued on Friday morning.

Several other analysts also recently weighed in on the stock. BMO Capital Markets reissued an “outperform” rating and issued a $352.00 price target on shares of Morningstar in a research note on Wednesday, August 28th. Redburn Atlantic cut Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 target price for the company. in a report on Wednesday, October 9th. Finally, UBS Group began coverage on Morningstar in a research note on Tuesday, October 8th. They issued a “buy” rating and a $390.00 price target on the stock. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Morningstar has a consensus rating of “Moderate Buy” and a consensus price target of $360.67.

Morningstar Stock Performance

Shares of NASDAQ MORN opened at $337.57 on Friday. The stock’s 50-day moving average is $329.41 and its 200 day moving average is $311.52. The stock has a market cap of $14.48 billion, a price-to-earnings ratio of 44.59 and a beta of 1.18. Morningstar has a 1-year low of $264.79 and a 1-year high of $352.55. 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 issued its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $2.00 EPS for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.01). The business had revenue of $569.40 million for the quarter. Morningstar had a net margin of 14.69% and a return on equity of 23.28%.

Morningstar Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were paid a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend was Friday, October 4th. Morningstar’s dividend payout ratio (DPR) is 21.40%.

Insider Transactions at Morningstar

In other Morningstar news, Chairman Joseph D. Mansueto sold 3,825 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $351.05, for a total value of $1,342,766.25. Following the completion of the sale, the chairman now owns 10,791,380 shares in the company, valued at approximately $3,788,313,949. This trade represents a 0.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director William M. Lyons sold 750 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $316.48, for a total value of $237,360.00. Following the transaction, the director now directly owns 13,590 shares in the company, valued at $4,300,963.20. This trade represents a 5.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,357 shares of company stock worth $22,039,835. Company insiders own 39.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MORN. Massachusetts Financial Services Co. MA increased its position in shares of Morningstar by 9.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,201,708 shares of the business services provider’s stock valued at $383,489,000 after buying an additional 102,206 shares during the period. Wellington Management Group LLP boosted its position in Morningstar by 0.5% during the 3rd quarter. Wellington Management Group LLP now owns 950,512 shares of the business services provider’s stock valued at $303,327,000 after acquiring an additional 5,158 shares in the last quarter. State Street Corp grew its holdings in shares of Morningstar by 3.7% during the 3rd quarter. State Street Corp now owns 804,293 shares of the business services provider’s stock worth $256,666,000 after acquiring an additional 28,698 shares during the period. Wasatch Advisors LP raised its position in shares of Morningstar by 13.9% in the 3rd quarter. Wasatch Advisors LP now owns 696,023 shares of the business services provider’s stock worth $222,115,000 after acquiring an additional 85,098 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Morningstar by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 497,411 shares of the business services provider’s stock valued at $158,772,000 after purchasing an additional 10,437 shares during the period. 57.02% of the stock is currently owned by institutional investors.

Morningstar Company Profile

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.