Morningstar (NASDAQ:MORN) Sets New 12-Month High – What’s Next?

Shares of Morningstar, Inc. (NASDAQ:MORN) hit a new 52-week high during trading on Monday . The stock traded as high as $352.80 and last traded at $351.26, with a volume of 67397 shares changing hands. The stock had previously closed at $346.21.

Analyst Upgrades and Downgrades

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

Morningstar Stock Up 0.3 %

The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.14 and a current ratio of 1.14. The firm’s 50 day moving average price is $334.69 and its two-hundred day moving average price is $314.24. The company has a market cap of $15.25 billion, a P/E ratio of 46.98 and a beta of 1.18.

Morningstar (NASDAQ:MORN) last posted its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $2.00 earnings per share 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 net margin of 14.69% and a return on equity of 23.28%.

Morningstar Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were paid a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date was Friday, October 4th. Morningstar’s dividend payout ratio (DPR) is currently 21.40%.

Insider Buying and Selling at Morningstar

In other news, Chairman Joseph D. Mansueto sold 118 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $342.13, for a total transaction of $40,371.34. Following the completion of the sale, the chairman now directly owns 10,788,378 shares of the company’s stock, valued at $3,691,027,765.14. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 $4,261,339.20. This represents a 5.52 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 64,879 shares of company stock valued at $21,672,132. Company insiders own 37.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. CIBC Asset Management Inc lifted its stake in Morningstar by 3.4% during the 3rd quarter. CIBC Asset Management Inc now owns 1,259 shares of the business services provider’s stock valued at $402,000 after acquiring an additional 41 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of Morningstar by 21.9% during the second quarter. Versant Capital Management Inc now owns 245 shares of the business services provider’s stock valued at $72,000 after purchasing an additional 44 shares in the last quarter. Legacy Advisors LLC lifted its position in shares of Morningstar by 1.6% during the second quarter. Legacy Advisors LLC now owns 3,025 shares of the business services provider’s stock valued at $895,000 after purchasing an additional 49 shares in the last quarter. Planning Alternatives Ltd. ADV boosted its holdings in Morningstar by 2.2% during the third quarter. Planning Alternatives Ltd. ADV now owns 2,254 shares of the business services provider’s stock worth $719,000 after purchasing an additional 49 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in Morningstar by 38.6% in the 2nd quarter. GAMMA Investing LLC now owns 183 shares of the business services provider’s stock worth $54,000 after purchasing an additional 51 shares in the last quarter. Hedge funds and other institutional investors own 57.02% of the company’s stock.

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.