Morningstar (NASDAQ:MORN) Sets New 52-Week High – Should You Buy?

Morningstar, Inc. (NASDAQ:MORN) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $365.00 and last traded at $356.27, with a volume of 17124 shares. The stock had previously closed at $352.91.

Wall Street Analysts Forecast Growth

MORN has been the subject of several recent analyst reports. StockNews.com raised Morningstar from a “hold” rating to a “buy” rating in a report on Thursday. BMO Capital Markets restated an “outperform” rating and issued a $352.00 target price on shares of Morningstar in a research note on Wednesday, August 28th. UBS Group started coverage on shares of Morningstar in a research report on Tuesday, October 8th. They issued a “buy” rating and a $390.00 price objective on the stock. Finally, 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 report on Wednesday, October 9th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $360.67.

Morningstar Stock Performance

The business has a 50 day moving average price of $343.52 and a two-hundred day moving average price of $319.33. The company has a market cap of $15.28 billion, a P/E ratio of 46.62 and a beta of 1.19. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.14 and a current ratio of 1.14.

Morningstar (NASDAQ:MORN) last issued its quarterly earnings data 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). The company had revenue of $569.40 million during the quarter. Morningstar had a return on equity of 23.28% and a net margin of 14.69%.

Morningstar Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 3rd will be paid a $0.455 dividend. This represents a $1.82 annualized dividend and a dividend yield of 0.51%. The ex-dividend date is Friday, October 3rd. This is an increase from Morningstar’s previous quarterly dividend of $0.41. Morningstar’s dividend payout ratio is currently 24.04%.

Insider Buying and Selling at Morningstar

In related news, Chairman Joseph D. Mansueto sold 9,062 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $328.22, for a total transaction of $2,974,329.64. Following the completion of the transaction, the chairman now directly owns 10,845,718 shares in the company, valued at approximately $3,559,781,561.96. The trade was a 0.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William M. Lyons sold 750 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $316.48, for a total value of $237,360.00. Following the completion of the transaction, the director now directly owns 13,590 shares of the company’s stock, valued at approximately $4,300,963.20. This trade represents a 5.23 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,188 shares of company stock worth $16,823,772. Insiders own 39.90% of the company’s stock.

Institutional Investors Weigh In On Morningstar

Hedge funds have recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new position in shares of Morningstar during the third quarter valued at approximately $30,000. Blue Trust Inc. raised its stake in shares of Morningstar by 326.9% during the 2nd quarter. Blue Trust Inc. now owns 111 shares of the business services provider’s stock worth $34,000 after acquiring an additional 85 shares in the last quarter. Crewe Advisors LLC acquired a new stake in Morningstar in the second quarter valued at approximately $35,000. DT Investment Partners LLC purchased a new position in Morningstar in the second quarter worth $36,000. Finally, Venturi Wealth Management LLC increased its position in shares of Morningstar by 101.7% during the third quarter. Venturi Wealth Management LLC now owns 121 shares of the business services provider’s stock worth $39,000 after purchasing an additional 61 shares in the last quarter. 57.02% of the stock is currently owned by hedge funds and other 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.